Quick take: Takaful shares up 5% after results beat estimates
KUALA LUMPUR: Syarikat Takaful Malaysia Keluarga Bhd’s shares rose in early trading Friday, after the insurer reported better-than-expected results for the latest quarter.
The takaful company, the second top gainer on Bursa Malaysia rose 4.9%, or 28 sen to RM6.
Syarikat Takaful saw net profit grow by 37.82% to RM96.44mil from RM69.98mil in its first quarter ended March 31, 2019 (1QFY19), on higher net Wakalah fee income arising from business growth in its family takaful segment.
Its revenue in the quarter rose 23.05% to RM918.16mil from RM746.17mil a year ago, mainly attributable to higher sales generated by the family takaful segment.
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