Brief: Alm. Brand Q3 Pre-Tax Profit Down At DKK 144 Million

ALM. Brand A/S

10/11/2022 07:40

Nov 10 (Reuters) - ALM. Brand A/S  ALMB.CO :
    * INTERIM REPORT Q3 2022
    * Q3 PRE-TAX PROFIT DKK 144 MILLION VERSUS DKK 174 MILLION
YEAR
AGO
    * TECHNICAL RESULT GREW TO A PROFIT OF DKK 370 MILLION IN Q3
 2022
FROM DKK 170 MILLION IN Q3 2021
    * GROSS PREMIUM INCOME GREW TO DKK 2,902 MILLION IN Q3 2022
FROM
DKK 1,376 MILLION IN SAME  PERIOD OF LAST YEAR
    * AN ORGANISATIONAL REDUCTION AFFECTING 110 POSITIONS HAS
BEEN
IMPLEMENTED, MAJORITY OF WHICH WERE EFFECTED BY DISCONTINUATION
OF VACANT POSITIONS
    * REDUCTION IS IMPLEMENTED TO ADDRESS COST LEVEL IN CODAN,
WHICH
AFTER ACQUISITION HAS PROVED HIGHER THAN ORIGINALLY EXPECTED.
    * COST SAVINGS SHOULD THUS BE SEEN AS A SIGNIFICANT STEP
TOWARDS
ENSURING A SATISFACTORY LEVEL OF FINANCIAL RESULTS FOR GROUP

Source text for Eikon:  ID:nGNE3MHQSN 
Further company coverage:  ALMB.CO 
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