2 Days
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الاقتصادية
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Source: الاقتصادية
2 Daysالاقتصادية
Source: الاقتصادية
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Bupa Arabia for Cooperative Insurance’s net profit fell 5.3% year on year to SAR 344.7 million in the third quarter, below the average forecast of four analysts of SAR 350 million. This was the first year-on-year decline for the period in more than a year. The company attributed the drop mainly to the non-recurrence of the positive impact from reversing a zakat provision in the same quarter last year, as well as a 24.6% rise in operating expenses and a 20.2% decline in other revenue. Despite this, insurance revenue increased 11.4% to SAR 5.62 billion, while net investment results rose 14.1% to SAR 213.7 million.
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