The 2008 half-year results of Middlesea Insurance plc were published following a Board of Directors meeting held on Thursday 7 August 2008.
During the first six months of the year, the Middlesea Group generated a pre-tax loss of €2.1 million when compared to the €4.5 million pre-tax profit generated in the same period last year. After accounting for taxation, the Group loss for the first six months of 2008 amounted to €1.6 million in contrast to €2.8 million profit registered during the first six months of 2007. The Directors attribute this loss due to very significant negative fair value movements experienced in the investment portfolio. Similar to last year, no interim dividend was declared.
A review of the Half-Yearly Results is available here.
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