Friday, November 7, 2008

Sagicor aims to tighten - Revenue strong but inflation worries insurance group

Published: Friday November 7, 2008

Sagicor Life Jamaica will pay out dividends of $1.65 billion or 44 cents per share on nine-month results that saw only a slight gain in profit for the insurance group.

Sagicor Jamaica grew profits attributable to shareholders by two per cent to $2.3 billion off revenues of $14.5 billion.

Minority companies contributed another $424 million to the bottom line pushing net profit to $2.7 billion.

Top line income rose by $2 billion or 17 per cent year-on-year, suggesting robust growth in sales, but the company also said that over the same period inflation was at 16 per cent, essentially handing it real growth in revenue of only one per cent.

Source: Jamaica Gleaner

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