The financial summary presented below is an extract from the Reporting Accountant's Report on the audited financial statements of IGI for the five (5) years ended December 2004, as well as the Reporting Accountants' Report on the management accounts for the twelve months ended 31 December, 2005 and the Profit forecasts for 2006, 2007 and 2008.
Profit Before Tax
IGI posted a Profit Before Tax (PBT) of _377 million for the year ended 31 December 2004, and its un-audited twelve (12) months accounts for the period ended December, 2005, show PBT figures of N649.95million. This represents a 72% increase over the previous year's 12 months performance of N377 million. This increase is mainly attributable to the 123% increase in investment income from N391million in 2004 to N873million in 2005. The 2006, 2007 and 2008 PBT forecasts are put at N1.63billion, N2.40billion and N3.54billion respectively.
Dividends
In 2004, dividend paid was N126 million with a dividend per share of 20 Kobo compared with total dividends of N75 million and dividend per share of 15 Kobo in the previous year. Dividends for the year 2006, 2007 and 2008 are projected to be N636million, N1.27billion and N1.99billion respectively.
Shareholders' Funds
The Company's shareholders funds (SHF) were reported at N5.1 billion as at the year ended 31 December 2004 and at N5.42 billion for year ended 31st December, 2005. This represents an increase of 6.3% in SHE
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