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GUI posts net income of $0.93 million at the end of 2014

2015-02-16

According to Global United Insurance Company GUI’s consolidated data for year-end preliminary financial statements for year 2014, net profit after tax reached 929,119 USD, compared with a net profit after tax of 820,629 USD in the audited data for 2013, a net increase of 13.2%. Total assets of the company reached 42,904,848 USD as of December 31^st, 2014, compared to total assets of 37,665,694 USD as of December 31^st, 2013, a net increase of 13.9%. Total liabilities of the company reached 31,307,015 USD as of December 31^st, 2014, compared to total liabilities of 27,666,723 USD as of December 31^st, 2013, a net increase of 13.2%. Net ownership equity of the company reached 11,597,833 USD (including 98,353 USD in Non-controlling interest) as of December 31^st, 2014, compared with a net ownership equity of 9,998,971 USD (including 84,873 USD in Non-controlling interest) as of December 31^st, 2013, a net increase of 16.0%. Furthermore, paid-in capital increased from 6,187,500 USD on December 31^st, 2013 to 8,000,000 USD  by December 31^st, 2014, an increase of 29.3%. GUI failed to disclose its year-end preliminary financials within the statutory period ended on February 15^th, 2015. PEX received GUI disclosure on February 16^th, 2015.