Saudi Enaya Cooperative Insurance reduced its quarterly losses by 93.6%, to record a net loss before zakat and tax of 1.769 million riyals in the second quarter of 2020, compared to losses of 27,705 million riyals In the same quarter of the previous year.

According to Arabiya Net, the company recorded a net loss of 12 million riyals during the first half ending on 30 June 2020, compared to losses of 45 million riyals during the same period From the previous year, down 73%.

The company explained in a statement to Tadawul that the reason for the decrease in the net loss during the current period compared to the same period of the previous year is due to the improvement in the net underwriting results by increasing their percentage. 133%.

and the total shareholders' equity (no minority share) at the end of the current period amounted to 135,917 thousand Saudi riyals, compared to 208,778 thousand Saudi riyals for the same period of the previous year, a decrease of 34%. And compared to the total shareholders' equity of 138,286 thousand Saudi riyals at the end of the previous quarter, a decrease of 1.7%.

and the earnings per share for the current quarter is (0.16) Saudi riyals per share. The earnings per share was calculated based on the weighted average number of shares outstanding, which represents 15,000 thousand shares. The earnings per share for the same quarter of the previous year amounted to (2.05) Saudi riyals per share. The earnings per share was calculated based on the weighted average number of shares outstanding, which represents 13,813 thousand adjusted shares.

and the loss per share decreased by 92% due to the net loss in the current quarter by 2,369 thousand Saudi riyals compared to a net loss of 28,305 thousand Saudi riyals for the same quarter of the previous year.

and the earnings per share for the six-month period ending June 30, 2020 was SAR 0.88 per share, and the earnings per share was calculated based on the weighted average number of outstanding shares of 15, 000 thousand shares. Earnings per share for the six months ending June 30, 2019 amounted to (3.37) Saudi riyals per share, and the earnings per share was calculated based on the weighted average number of shares outstanding for 13,813 thousand adjusted shares.

(Amazon fun knowledge)