Business / Companies
ZHL bounces back to profitability
14 Sep 2015 at 06:49hrs | Views
ZIMRE Holdings Limited has recorded a profit of $1,1 million for the half year ended June 30, 2015 attributed to a decline in net claims.
The profit was achieved after a loss of $50 000 during the same period last year.
In a statement accompanying the group's interim results for the period ending June 30, board chairman Benjamin Kumalo said gross premiums were at $42 million, which was in line with what was recorded during the same period last year.
Kumalo said the contribution of the domestic insurance and reinsurance operations to gross premium written was maintained at 53%. Operating profit was maintained at $1,6 million.
Total comprehensive income was a positive $1,2 million in 2015 compared to a negative $700 000 in 2014.
Source - newsday
