Total revenue rose to R15.7 million (R13.9 million). Net attributable profit soared to R1.7 million (R0.2 million). In addition, headline earnings on a per share basis surged to 14.77cps (1.43cps).
Although management remains optimistic about the prospects for the second half of the financial year, the extraordinary growth pattern will be difficult to maintain given increasing competition in the industry as well as the inherent uncertainty of any insurance business. The company will continue its efforts to optimise profitability with a focus on building a superior quality business, building on successes of the past and improving efficiencies. Indequity is well positioned to face current challenges with its unique product and quality business.