25th Jun 2007 08:00
FBD Holdings PLC25 June 2007 25 JUNE 2007FBD HOLDINGS PLC ("FBD" or "the Group") PRE-CLOSE TRADING STATEMENT FOR THE HALF YEAR TO 30 JUNE 2007 OPERATING PROFIT FBD Holdings plc has continued to make solid progress in the year to date. Inrelation to full year operating earnings, we remain comfortable with themarket's expectation*. In our core underwriting business, the Group has maintained policy growth andpremium written is marginally ahead of 2006. Price competition remains intenseand our full year gross premium written target will become increasinglychallenging unless pricing pressure moderates. Claims and other costs arerunning at anticipated levels. Our Leisure, Property and Financial Services interests are performing to budget. On 17 April we announced the return of €177m to shareholders. This will enhancereturn on equity for shareholders and has resulted in a reduction in the assetsheld in the Capital Fund to a total of €40m currently. PROFIT BEFORE TAXATION The weakness in Government Bond markets, particularly in recent weeks, has had a negative impact on our short term fluctuations in investment returns, andconsequently on pre-tax profit. Our equity portfolio is performingsatisfactorily in the year to date. INTERIM RESULTS The Group's interim results are scheduled to be announced on Wednesday 29 August 2007. * An FBD survey of the forecasts of the analysts who cover the Group indicates a mean market expectation for 2007 operating earnings per share to be 324 cents per share. For Reference: Telephone No: FBDPhilip Fitzsimons, Chief Executive 00-353-1-4093208Andrew Langford, Finance Director Murray ConsultantsJoe Heron 00-353-1-4980315 FBD Holdings plc FBD House Bluebell Dublin 12 Ireland Registered in Dublin, Ireland Registered Number 135882 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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