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.