This archive report was first published on 2 September 2019.
On September 2, 2019, UAP Holdings released its half-year results for the period ended June 30, 2019, showing a significant growth in net profits.
The company's gross written premium increased by 1.8% to Ksh 9.912 billion, while the gross earned premium rose by 2.9% to Ksh 9.178 billion compared to the previous half-year period.
UAP Holdings attributed its good performance to steady growth in net earned premium and robust savings in operating expenses, which declined by 8% year on year.
Profit before tax grew by 16.3% to Ksh 517 million, and profit after tax surged by 101.58% to Ksh 383 million, resulting in a 222.45% increase in earnings per share (EPS) from Ksh 0.49 to Ksh 1.58.
