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MarketScreener Homepage  >  Equities  >  Dubai Financial Market  >  Islamic Arab Insurance Co. (Salama)    SALAMA   AEI000301012

ISLAMIC ARAB INSURANCE CO. (SALAMA)

(SALAMA)
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Islamic Arab Insurance PSC : Financial statements for 30 Sept 2016

11/15/2016 | 01:43am EST

Islamic Arab Insurance Co. (Salama) and its subsidiaries

Condensed consolidated interim financial statements

for the nine-month period ended 30 September 2016

Islamic Arab Insurance Co. (Salama) and its subsidiaries

Condensed consolidated interim financial statements

for the nine-month period ended 30 September 2016

Contents

Page

Independent auditors' report on review of condensed consolidated interim financial

information

1 - 2

Condensed consolidated interim statement of profit or loss

3 - 4

Condensed consolidated interim statement of profit or loss and other comprehensive income

5

Condensed consolidated interim statement of financial position

6

Condensed consolidated interim statement of cash flows

7

Condensed consolidated interim statement of changes in equity

8 - 9

Notes

10 - 25

KPMG Lower Gulf Limited

Level 13, Boulevard Plaza Tower One

Mohammed Bin Rashid Boulevard, Downtown Dubai, UAE Tel. +971 (4) 403 0300, Fax +971 (4) 330 1515

Independent Auditors' Report on Review of Condensed Consolidated Interim Financial Statements

The Shareholders

Islamic Arab Insurance Co. (Salama) and its subsidiaries

Introduction

We have reviewed the accompanying 30 September 2016 condensed consolidated interim financial statements of Islamic Arab Insurance Co. (Salama) (the "Company") and its subsidiaries (collectively referred to as the "Group"). which comprises:

  • the condensed consolidated interim statement of financial position as at 30 September 2016;

  • the condensed consolidated interim statement of profit or loss for the three-month and nine-month periods ended 30 September 2016;

  • the condensed consolidated interim statement of profit or loss and other comprehensive income for the three-month and nine-month periods ended 30 September 2016;

  • the condensed consolidated interim statement of changes in equity for the nine­ month period ended 30 September 2016;

  • the condensed consolidated interim statement of cash flows for the nine-month period ended 30 September 2016; and

  • notes to the condensed consolidated interim financial statements .

Management is responsible for the preparation and presentation of these condensed consolidated interim financial statements in accordance with JAS 34, 'Interim Financial Reporting'. Our responsibility is to express a conclusion on these condensed consolidated interim financial statements based on our review.

Scope of Review

We conducted our review in accordance with the International Standard on Review Engagements 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity". A review of condensed consolidated interim financial statements consists of making inquiries, primarily of persons responsible for financial

and accounting matters, and applying analytical and other review procedures. A review is substantially Jess in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit.

Accordingly, we do not express an audit opinion.

tlf Limned 1-; .i m"'mhr.:r firm of rh KPMG nf-tvmrf· of 1nd::.rndF.m m: mbf r fotnaii1!1,11ed vm.11 KPMG 1nt.c:rn;mon:il Coopercmvr.: l"KPMG lntcrn,1urmal"l, a SV!i5s P.nuty. All rights r served.

KPMG Lower Gulf Llmacd fDubar Branch) is reg1st':rt:d and licensd un·J1Jr tnr.: lav,s of the Unue

Islamic Arab Insurance Co. {Salama) and its subsidiaries

Independent Auditors' Report on Review of Condensed Consolidated Interim Financial Statements

30 September 2016

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the accompanying 30 September 2016 condensed consolidated interim financial statements are not prepared, in all material respects, in accordance with IAS 34, 'Interim Financial Reporting'.

iVlv-

KPMG Lower Gulf Limited

Fawzi AbuRass

Registered Auditor Number: 968 Date: 1 4 NOV 2016

2

KPMG Lower Gulf L1m1tt::d i:;;) n1,=;mber firm of the Y PMG networ f of mdepentl· nt m-::mb1:-r f 11m::. -.1ff1hated with KPMG International Coope rat1v;,; f"KPMG lnte-rn;;tional"l, a Sv:1ss A!I nghts reserved.

KPMG Lo...vr:r Gulf L1m1t.c:d (Oub;;i1 Branch) 15 reg1ti:;rErJ and lii:1::!ns.::d ur.dr th": Javr:; of thi:: United farab Err ra11;s

SALAMA - Islamic Arab Insurance Company PSC published this content on 15 November 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 15 November 2016 06:43:04 UTC.


© Publicnow 2016
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Sales 2019 840 M 229 M 229 M
Net income 2019 55,0 M 15,0 M 15,0 M
Net cash 2019 44,9 M 12,2 M 12,2 M
P/E ratio 2019 13,0x
Yield 2019 -
Capitalization 998 M 272 M 272 M
EV / Sales 2018 0,53x
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Free-Float 59,2%
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NameTitle
Fahim Mohamed Ahmed Al-Shehhi Chief Executive Officer
Jassim Mohammed Al-Seddiqi Chairman
Muhammad Zaheer Iqbal Chief Financial Officer
Lindsay D'Mello Senior Manager-Information Technology
Saeed Mubarak Rashed Al-Hajeri Vice Chairman
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