Sri Lanka Aviva December net down 21-pct

Feb 16, 2012 (LBO) – Sri Lanka’s Aviva NDB Insurance said December 2011 quarter net profit fell 21 percent to 482 million rupees from a year ago with sales down 34 percent to 2.9 billion rupees. Gross written premium from life and general businesses fell 26 percent to 2.3 billion rupees in the December 2011 quarter, accounts filed with the Colombo Stock Exchange showed.

The firm reported investment income halved to 517 million rupees for the quarter.

In the year ending December 2011, Aviva NDB Insurance’s net profit rose 15.3 percent to 692 million rupees while sales fell 15.8 percent to 12.8 billion from a year ago.

Earnings per share for the year were 23.05 rupees compared with 20.01 rupees the year before.

Aviva NDB Insurance shares closed at 201.30 rupees Thursday, up 1.30 rupees.