MNRB expects good FY13 results

KUALA LUMPUR: MNRB Holdings Bhd’s pre-tax profit for the financial year ended March 31, 2012 (FY12) decreased to RM130.62mil from RM164.95mil recorded in the same period last year.

The lower profit was due to provisions made by the group’s reinsurance subsidiary and associate for the Thailand flood loss, it said in a filing to Bursa Malaysia yesterday.

Revenue was down to RM1.43bil from RM1.46bil previously, attributable to the decline in gross premium written by the reinsurance subsidiary, it said.

However, based on the current economic conditions, the group was expected to achieve good results for FY13, it added. – Bernama