LOW premiums in the currently soft US insurance market took profits at
insurance broker JIB down with them. The weak dollar and falling
interest rates also hurt the group, which was floated on the Stock
Exchange in November.
JIB unveiled pre-tax profits of #10.7m in the six months to June 30
compared with #11.1m previously. And it warned that profits for the full
year would be below expectations.
The interim dividend has been set at 2.5p and shareholders who
invested in the company when it was floated are likely to receive a
final payout of 5p. Earnings per share dropped to 5.8p from 9.4.
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