Donegal Investment Group plc Reports Unaudited Consolidated Earnings Results for the Six Months Ended February 28, 2017; Provides Earnings Guidance for the Remainder of the Year Ending 31 August 2017
April 27, 2017 at 02:00 am EDT
Donegal Investment Group plc reported unaudited consolidated earnings results for the six months ended February 28, 2017. For the six months, the company reported revenue from continuing operations of 46.4 million compared to 49.9 million a year ago. Adjusted operating profit was 3.5 million compared to 1.5 million a year ago. Profit before tax from continuing operations was 3.2 million compared to 1.2 million a year ago. Net cash used in operating activities was 2.54 million compared to 1.95 million a year ago. Adjusted earnings per share were 30.1 cents compared to 16.5 cents a year ago. Basic earnings per share from continuing operations were 26.4 cents compared to 13.0 cents a year ago. Net debt was 16.4 million compared to 18.0 million a year ago. Net asset value per share was 6.02 compared to 5.97 a year ago. Acquisition of property, plant and equipment was 176,000 compared to 333,000 a year ago.
The Board is optimistic that all businesses will remain on plan for the remainder of the year ending 31 August 2017.