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MIC realizes net loss of $0.03 million in H1 2014

2014-08-18

According to Al-Mashriq Insurance Company MIC’s data for the first six months of the year, net loss reached (34,803)   USD, compared with a net profit after taxes of 31,825 USD from the first six months of 2013. Total assets of the company reached 26,927,113 USD as of June 30th, 2014, compared to total assets of 18,563,610 USD as of December 31st, 2013, a net increase of 45.1%. Total liabilities of the company reached 21,302,348 USD as of June 30th, 2014, compared to total liabilities of 17,579,958 USD as of December 31st, 2013, a net increase of 21.2%. Net ownership equity of the company reached 5,624,765 USD (including 4,558,247 USD in Non-controlling interest) as of June 30th, 2014, compared with a net ownership equity of 983,652 USD as of December 31st, 2013, a net increase of 471.8% in the last six months. Shareholders’ Equity increased by 8.4%.

 


 

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