Executives of United Insurance have rewarded shareholders with generous results from last year’s operation, making them bag 15pc more earnings per share (EPS) than the previous year. EPS surged by 55 Br for a share to 370 Br after the company netted a 181 million Br profit, showing an increase of 25pc.
Executives of United Insurance have rewarded shareholders with generous results from last year’s operation, making them bag 15pc more earnings per share (EPS) than the previous year. EPS surged by 55 Br for a share to 370 Br after the company netted a 181 million Br profit, showing an increase of 25pc.
In the words of Mulualem Berhane, board chairman, this was recorded against the backdrop of “a country grappling with continued political and economic vulnerabilities.” He praised the outcome as “commendable.”
Abdulmenan Mohammed, a finance expert based in London, attributed the increase in EPS to the “modest growth in paid-up capital.”
Executives of United Insurance believe that the minimum paid-up capital requirement is on the low side, considering the continuous depreciation of the Birr against a basket of major currencies.
Shareholders who met at the Sheraton Addis last month agreed. They have resolved to increase the firm’s capital to 1.5 billion Br by the end of 2024.
<br> PUBLISHED BY FORUNE – ON Jan 07,2023 [ VOL 23 , NO 1184]
FORUNE ETHIOPIA
PUBLISHED BY FORUNE – ON Jan 07,2023 [ VOL 23 , NO 1184
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