LPI Capital 2Q net profit up 18.8% to RM31.42m

LPI Capital net profit for the second quarter ended June 30, 2011 rose 18.83% to RM31.42 million from RM26.44 million a year earlier, due mainly to higher gross premium underwritten and higher underwriting profit.

It said on Thursday, July 7 that revenue for the period rose 23% to RM213.88 million from RM173.87 million. Earnings per share was 14.26 sen while net assets per share was RM5.21.

LPI Capital declared a first single tier interim dividend of 25 sen per share to be paid on July 28.

For the six months ended June 30, LPI Capital’s net profir rose to RM70.04 million from RM64.77 million, on the back of revenue RM427.3 million.

On its outlook for the year, LPI Capital said barring unforeseen circumstances, its prospects for the year should be satisfactory.