By  RITA OBODOECHINA

Linkage Assurance Plc has recorded a gross premium income of N2.3 billion as against N2.1 billion recorded in 2010.

Its profit before tax stood at N239 million, while the profit after tax was N171 million.

Addressing shareholders at the company’s annual general meeting in Lagos last week, Chairman of the company, Mr. Babatunde Fatayi Williams said that the firm’s total assets  grew by N4.801 billion  in 2010 financial period to  N5.144 billion in 2011.

According to the Chairman, investments  was N2.357 billion  as against N2.378 billion  recorded in 2010 while shareholders’ funds at the end of the reporting period stood at N3.184 billion in 2011 over 2010 figure of N3.013 billion.

However, net premium of the company dropped marginally to N1.680 billion in 2011 from N1.771 in 2010.

Profit after exceptional item and taxation was N265.1 million in 2011 as against N279.983 millionrecorded in the previous year.

Earning per 50 kobo share was 0.03 kobo, its net assets per 50 kobo share stood at 0.59 in 2010 and 0.62 kobo in 2011.

Stock exchange quotation (kobo) as at 31st December was 0.50 kobo in 2010 and 0.50 kobo in 2011, while price earning ratio was 16.67 kobo in 2010 as well as 16.67 kobo in 2011.

The company’s number of employees stood at 180 in 2011 and 182 in the previous year while number of branches was 14 in 2011 as well as 14 in 2010.