Latest news with #net profit
Zawya
15 hours ago
- Business
- Zawya
Takaful International reports 10% increase in Q2 net profit
Bahrain - The board of directors of Takaful International Company has approved the financial results for the period ended June 30, 2025. The net profit attributable to the shareholders after tax was BD178,000 for the three months ending on June 30, 2025, compared with a net profit of BD162,000 for the same period in the previous year, an increase of 10 per cent. Comparatively, earnings per share increased to 2.1 fils from 1.9 fils for the same period in the previous year. Total comprehensive income attributable to the shareholders of the company for the three months ended June 30, 2025 surged to BD149,000 compared to BD79,000 for the same period in the previous year, an increase of 89pc. The company reported a total net profit before tax of BD232,000 during the second quarter of the year 2025 compared to BD211,000 for the same period in the previous year, with an increase of 10pc. The shareholders' fund achieved a profit before tax of BD201,000 during the second quarter of the year 2025, compared to a profit of BD162,000 for the same period of the previous year, an increase of 24pc. This increase is mainly attributed to the increase in the income from investments during the period. The takaful funds achieved a surplus before tax of BD31,000 during the second quarter of 2025, compared to a surplus of BD49,000 for the same period of the previous year, a decrease of 37pc. This decline in the performance of the takaful funds is mainly due to an increase in the claims reserve during the period compared to the corresponding period of the previous year. Recognised takaful contributions were BD7.306 million for the three months period ending on June 30, 2025, compared to BD6.425m for the same period of the previous year, an increase of 14pc. Recognised takaful costs were BD6.185m during the three months period ending on June 30, 2025 compared to BD5.195m in the same period of the previous year, with an increase of 19pc. The net profit attributable to the shareholders after tax was BD600,000 for the six months ending on June 30, 2025, compared with a net profit of BD555,000 for the same period in the previous year, an increase of 8pc. Comparatively, earnings per share increased to 7.07 fils from 6.52 fils for the same period in the previous year. The comprehensive income attributable to the shareholders of the company for the sixmonth period ending on June 30, 2025, was BD592,000, compared to a profit of BD424,000 for the same period of the previous year, an increase of 40pc. The company reported a total net profit before tax of BD870,000 during the six months ending on June 30, 2025 compared to BD757,000 for the same period of the previous year, with an increase of 15pc. The shareholders' fund achieved a profit before tax of BD681,000 during the six months ending on June 30, 2025, compared to a profit of BD555,000 for the same period of the previous year, an increase of 23pc. The takaful funds achieved a surplus before tax of BD189,000 during the six months ending on June 30, 2025, compared to a surplus of BD202,000 for the same period of the previous year, a decrease of 6pc. Recognised takaful contributions were BD14.146m for the six months ending on June 30, 2025, compared to BD12.314m for the same period of the previous year, an increase of 15pc. Recognised takaful costs were BD11.912m during the six months period ending on June 30, 2025, compared to BD9.905m in the same period of the previous year, with an increase of 20pc. The company's shareholders equity amounted to BD12.190m as of June 30, 2025, compared to BD12.680m as of December 31, 2024, a decrease of 4pc. The company's total assets increased by 8pc to BD47.516m as of June 30, 2025, compared to BD43.833m as of December 31, 2024. Chairman Ebrahim Alrayes remarked on the company's financial results, highlighting the good performance across both takaful operations and investment activities. He attributed this performance to the company's ongoing efforts to streamline operations, enhance the quality of its insurance offerings, and apply rigorous risk controls. He further noted that the investment portfolio delivered strong support to overall results, driven by a carefully balanced strategy that prioritises diversification, financial discipline, and sustainable growth, while steering clear of excessive risk. He concluded by expressing appreciation to shareholders and clients for their confidence, and to the company's dedicated team, whose commitment continues to drive success. The company's chief executive Essam Al Ansari expressed his satisfaction with the performance for the period, reaffirming that this reflects the strength of the business model and customer-focused strategy. He emphasised that the company continues to strive to provide innovative and effective insurance solutions that meet the evolving needs of its customers. Mr Al Ansari also highlighted the company's commitment to its takaful principles, noting the successful organisation of several ESG initiatives, along with partnerships with local charities. In line with the takaful concept, Mr Al Ansari referenced the recently announced surplus distribution, marking a significant milestone as the first takaful company in Bahrain to implement this initiative - reinforcing its role as a pioneer in delivering value to policyholders and promoting the mutual benefits at the heart of the takaful system. Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
NHK
4 days ago
- Business
- NHK
Sony Group posts record net profit, sales for Apr.-Jun. quarter
Sony Group has posted record net profit and sales for the April-to-June quarter due to brisk sales of video game titles and solid demand in the semiconductor business. The Japanese technology and entertainment giant says net income stood at 259 billion yen or 1.76 billion dollars, a jump of 23.3 percent from a year earlier. Sales were 2.62 trillion yen, up 2.2 percent. Sony has adjusted its full fiscal year figures to reflect the 15-percent tariff agreed between Japan and the US. It now expects the levy will result in a cut of operating income by 475 million dollars. The company revised upward its annual net profit forecast to 6.58 billion dollars, while maintaining its sales projection.
Zawya
4 days ago
- Business
- Zawya
Savola Group's profits shrink 39% in H1-25; higher revenues reported
The net profit of Savola Group amounted to SAR 294.86 million in the first half (H1) of 2025, down 39.09% year-on-year (YoY) from SAR 484.10 million, according to the financial results. Revenues soared by 11.25% to SAR 13.65 billion as of 30 June 2025 from SAR 12.27 billion in H1-24, while the earnings per share (EPS) increased to SAR 0.99 from SAR 0.53. Results for Q2-25 In the second quarter (Q2) of 2025, the company logged net profits valued at SAR 105.70 million, marking an annual drop of 21.92% from SAR 135.39 million. The revenues grew by 18.16% YoY to SAR 6.06 billion in April-June 2025 from SAR 5.13 billion. Quarterly, the Q2-25 profits retreated by 44.12% from SAR 189.16 million in January-March 2025, while the revenues dropped by 20.21% from SAR 7.59 billion. All Rights Reserved - Mubasher Info © 2005 - 2025 Provided by SyndiGate Media Inc. (
Yahoo
5 days ago
- Business
- Yahoo
Allianz posts better-than-expected Q2 profit and confirms target
FRANKFURT (Reuters) -Germany's Allianz on Thursday posted a better-than-expected 13% rise in second-quarter net profit and confirmed its target for the full year. Allianz said the earnings were helped by strength at its property and casualty segment and by a disposal gain of around 300 million euros ($350 million) from a joint venture with UniCredit . Net profit attributable to shareholders of 2.841 billion euros in the three months through June compares with profit of 2.513 billion euros a year earlier. The figure surpassed a 2.756 billion euro consensus forecast. Allianz said it was "fully on track" to meet its full-year target of operating profit between 15 billion euros and 17 billion euros, compared with 16 billion euros in 2024. "Allianz has delivered record results in the first half of the year," Chief Executive Officer Oliver Baete said. ($1 = 0.8570 euros) Sign in to access your portfolio
Reuters
5 days ago
- Business
- Reuters
Singapore lender DBS maintains 2025 outlook, Q2 profit beats forecasts with 1% rise
SINGAPORE, Aug 7 (Reuters) - Singapore's biggest bank DBS Group ( opens new tab maintained its 2025 outlook after posting a 1% rise in second-quarter net profit on Thursday that beat expectations on the back of higher total income. "While external uncertainties remain, we have opportunities ahead of us," Chief Executive Officer Tan Su Shan said in a statement. "Our proactive management of the balance sheet puts us in a good position to navigate the interest rate cycle, while strong capital and liquidity ensure we are well placed to support customers," she added. Tan maintained the 2025 outlook in general, including anticipating group net interest income slightly above 2024 levels, and net profit to be below 2024 levels, according to her observations and slides accompanying the results. DBS's results followed that of smaller peer Oversea-Chinese Banking Corp ( opens new tab, which posted on Friday an in-line second quarter net profit, but cut its 2025 net interest income expectations and flagged persisting tariff uncertainty. Major global lenders such as HSBC(HSBA.L), opens new tab and Standard Chartered(STAN.L), opens new tab reported a mixed bag of results last week, with some also highlighting the impact from U.S. President Donald Trump's tariffs. DBS, Southeast Asia's biggest lender by assets, said April-June net profit climbed to S$2.82 billion ($2.19 billion) from S$2.79 billion a year earlier. That beat the mean estimate of S$2.77 billion from three analysts, according to LSEG data. It declared an ordinary dividend of 60 Singapore cents per share and a Capital return dividend of 15 Singapore cents per share for the second quarter DBS' second quarter return on equity declined to 16.7%, from 18.2% a year ago. Net interest margin, a key gauge of profitability, dropped to 2.05% in the second quarter from 2.14% in the same period a year earlier. ($1 = 1.2848 Singapore dollars)
