Zambia Reinsurance PLC anticipates Q2 2022 EPS to be approximately 300% lower than year prior

By Published On: September 16th, 2022Categories: Corporate announcement
Zambia Reinsurance Plc 2022 Interim Results For The Second Quarter

Zambia Reinsurance PLC (PRIMA.zm) Q22022 Interim Report

In accordance with the Lusaka Securities Exchange (“LuSE”) Listings Requirements, the Board of Directors of Zambia Reinsurance PLC (the “Company”) hereby advises the Shareholders of the Company that the Earnings Per Share (“EPS”) for the half-year ended 30th June 2022 is expected to be approximately 300% lower than for the half-year ended 30th June 2021.

The movement in EPS is primarily attributed to the large negative charge in respect of the unearned premium reserves (“UPR”) which will be releasing as the year end approaches. The large charge in the UPR is as a result of the increased Gross Written Premium in the first half of 2022.

Shareholders are advised that the information contained in this Trading Statement has not been reviewed nor reported on by the external auditors of the Company.

The Company expects its results for the half-year ended 30 June 2022 to be released on SENS and published in the local press on or about 13 September 2022. Accordingly, shareholders are advised to exercise caution when dealing in the Company’s Securities until publication of the results.

By Order of the Board

CHOICE CORPORATE SERVICES LIMITED
COMPANY SECRETARY
Issued in Lusaka, Zambia on 9 September 2022


 

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