Wethaq Expected To Post EGP 7 Mln Profit For FY 2011/12
Published Saturday, 28 July 2012 10:58 | Written by Islam Abd ElHameed
Initial indications showed that the Wethaq Takaful Insurance Company’s profit reached EGP 7 million in FY 2011/2012, up from EGP 5.5 million in FY 2010/2011, with an increase of 27%, said Abdel Aziz Labib, financial manager of the Company.
The first indications indicated that the Company has complied with its targeted plan in the last fiscal year, Labib noted.
The Company has started finishing its headquarters in Mohandseen, Labib said, adding that the company will move to its temporary headquarters in Dokki last week.
It is worth mentioning that Wethaq Takaful Insurance Company targets achieving EGP 100 million as premiums in FY 2012/2013, in addition to injecting EGP 10 million to the Company’s capital to reach EGP 60 million.
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