Results & Dividends

LASACO Assurance Post-Tax Profit down by -185.1% in 2012 End

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By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-LASACO Assurance Plc, Monday reported a decline in post-tax profit of -185.1 percent (-185.1%) in the 2012 audited report as the insurance company recorded a loss of N255.024 million.

To record the -185.1% decline in post-tax profit, the company in 2012 end made a negative of N255.024 million compared to N299.711 million in the corresponding period of 2011.

Pre-tax profit also dipped by -136% as LASACO Assurance reported a negative N180.090 million compared to N500.310 million recorded in the same period of 2011.

However, gross profit increased from N3.988 billion in 2011 end to N4.437 billion in the review period of 2012; indicating an increase of 11.3%.

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