Novae profits fall in first half
Underlying profit before tax at the newly re-named Novae group fell in the first half of 2006, the company's interim report said today. In its statement to the stock exchange, the firm said excluding professional costs incurred in the scheme of arrangement and formation of new insurance company, PBT was £16.0 million (H1 2005: £27.7 million)
Highlights included:
Annualised return on equity 26% (H1 2005: 40%) Tangible net assets per share 30.0p (H1 2005: 38.2p) Earnings per share 2.5p (H1 2005: 5.3p) Combined ratio 83.8% (H1 2005: 71.9%)Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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