Abu Dhabi – Mubasher: Methaq Takaful Insurance (METHAQ) announced Sunday that it turned to profitability in the first nine months of 2015, compared to the same period last year.
The insurer’s profit reached AED 1.041 million ($283,300) in the January-September period, versus a loss of AED 3.3 million ($914,800) in the same period of 2014, according to the company’s bourse filing.
The Dubai listed company’s net profit in the third quarter of 2015 shrank to AED 710,400, compared to AED 3.5 million last year.
Total revenue in the nine-month period also dropped to AED 148.4 million from AED 197.6 million.
The statements also showed a fall in the earnings per share to AED 0.007, down from AED 0.022.
METHAQ earlier reported a profit of AED 330,555 ($90,000) in H1-15, compared to a loss of AED 9.640 million ($2.62 million) last year.
