NCCI Net Profit Up 89 Percent

RIYADH, 20 October 2005 — Saudi Arabia’s Company for Cooperative Insurance (NCCI) said its nine-month net profit rose 89 percent to SR244 million ($64 million) compared to the same period last year. Earnings per share increased to SR24.43 from SR12.95, the company said. Total assets rose to SR3.91 billion from SR2.67 billion, NCCI said in a statement on the website of the Saudi stock market. NCCI shares slipped 0.41 percent on the news to close yesterday morning’s trading session at SR662.25.