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Vietnam Business » Vietnam Business News » Insurance firm earns 136b dong pre-tax profit, 71.5pct year plan

Insurance firm earns 136b dong pre-tax profit, 71.5pct year plan

The southern bourse listed - Bao Minh Insurance Joint Stock Corporation (coded BMI) released H1 combined business result with 136 billion dong of progressive pre-tax profit in first half, meeting 71.5 percent of the year plan.

Accordingly, BMI gained 350 billion dong in net revenue from insurance operation in the second quarter, fell by 15 percent quarter - on- quarter, yet H1 accumulative net revenue 763.64 billion dong, up 12 percent year-on-year.

The companys costs slightly reduced in Q2 against a quarter ago, financial profit gained nearly 33 billion dong, equal to one third in comparison with first quarter this year. Therefore, pre-tax profit in the second quarter gained only 35.38 billion dong, down 65 percent quarter-on-quarter, equivalent to a half of last years same period.

Thank to high amount of profit in first one, H1 accumulative pre-tax profit was boosted to 136 billion dong, 33 billion dong higher than expected, up 22 percent year-on-year and meeting 71.5 percent of year plan.

After tax profit of parent company in the second quarter gained 24.08 billion dong, down over 74 percent quarter-on-quarter, down 60.65 percent year-on-year, yet H1 accumulative after tax profit 118.73 billion dong, up 23 percent over the same period last year.

Vietnam Business And Financial News Network. Source [intellasia.net]

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