LPI Capital Q3 net profit rises 18%

PETALING JAYA: LPI Capital Bhd’s net profit for the third quarter ended Sept 30, 2015 rose 18% to RM75.84 million from RM64.2 million in the previous corresponding quarter.
Its revenue jumped 16% to RM349.5 million from RM301.2 million previously, contributed largely by the general insurance segment, on the back of an improved performance by wholly-owned subsidiary Lonpac Insurance Bhd.
For the nine months period, LPI’s net profit surged 32% to RM218.8 million from RM165.9 million, also contributed largely by the general insurance segment. The strong growth in the underwriting profit registered by Lonpac was the key contributor to the group’s performance.
Revenue went up 8.7% to RM946 million, compared with RM870.5 million a year ago.