M a r k e t N e w s

Britam Half-Year Net Earnings Rise to KSh 376.3 Million

Posted on : Wednesday , 29th September 2021

Britam Holdings Plc recorded a net profit of KSh 376.3 Million at the close of the 6 months ended on 30th June 2021 compared to a loss of KSh 1.6 Billion in the 1st half of last year.


The Group also posted a pre-tax profit of KSh 647 Million at the end of 30th June 2021 compared to a pre-tax loss of KSh 2.3 Billion in H1, 2020.


The Group's investment income was up 35 per cent to KSh 4.9 Million due to improved performance of equities at the Nairobi Securities Exchange (NSE).


Britam has a presence in 7 African countries


The Underwriter, with a presence in Kenya, Malawi, Mozambique, Rwanda, South Sudan, Tanzania, and Uganda, saw its balance sheet size grow to KSh 146.9 Billion from KSh 136.9 Billion in H1, 2020 while gross earned premiums and fund management fees rose to KSh 14.9 Billion in H1 2021 from KSh 14.1 Billion over the first 6 months of last year.


Earnings per share improved to KSh0.14 from a loss of KSh 0.65 at the end of H1, 2020.


Total comprehensive income improved to KSh 1.2 Billion from a loss of KSh 4.2 Billion in H1, 2020, while total income increased to KSh 19.7 Billion from KsH 12.9 Billion in H1, 2020.


Source : www.abafnz.com
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