Argus Group Holdings Limited Today [June 21] Net income for the fiscal year ended March 31, 2022 was announced to be $ 25.7 million, compared with $ 10.1 million in the previous year.
Allison Hill, Chief Executive Officer of Argus, said: We encourage shareholders, investors, and customers to take a closer look at our business and how it has successfully evolved into a physical and financial healthcare services organization focused on an integrated, people-centric experience. .. It’s nice to see how this has helped increase shareholder value. “
“The average return on equity for the past four years was 17.6%. The average return on equity for the past four years is 12.3% based on reported net income and 15.1% based on operating income.
“Since March 2018, our shareholders’ equity has increased from $ 105.9 million to $ 143 million as of March 31, 2022, during which time we paid $ 19.6 million through dividends and further through stock repurchases. We returned $ 2.5 million to shareholders. The decline in shareholders’ equity since March 2021 was primarily due to the decline in market value of our bond portfolio, which supports our long-term products.
“Major performance indicators remain strong. The average composite ratio for the health and non-life insurance business groups for the fiscal year ended March 31, 2022 was 78%, often a three-year average of 79%. Are being compared.
“Over the past year, economic activity has returned to more normal levels. As a result, benefits and billing costs for our entire core business have increased by $ 15.8 million, or about 27 percent, compared to the previous year.
“Total fee income was $ 44.4 million, an increase of $ 4.7 million from the previous year, or about 12%. The major contributors to this growth were the acquisition of medical practice in Bermuda and the group’s insurance in Malta. It was the continued growth of broker Antes.
“The book value per share was $ 6.69 as of March 31, 2022, compared to $ 6.94 as of March 31, 2021. The stock price as of March 31, 2022 was March 31, 2021. It was $ 6.10 compared to $ 4.56 as of the day.
“Based on the Group’s financial strength and good performance, Argus has declared a dividend of 11 cents per share to registered shareholders as of July 29, 2022, which will be paid on August 26, 2022. increase.”
“We are pleased that stock prices have risen in the last 18 months. We are still trading at discounted intrinsic value, but that the market is beginning to focus on the value we are building. We are reassured. We will steadily work on discounts to intrinsic value that we believe are below the level guaranteed by consistently performing companies. Financial strength will move us forward as we grow, along with having the right teams at all levels of the organization. “
Hill concludes: “If you look closely, you can see that we have rethought our entire business. We have quietly rethought our location, our products, and our goals. A closer look at our balance sheets, It reveals the work done to accelerate growth, scale and diversify.
“A closer look at our growing business footprint reveals a diverse portfolio that can be exported to other integrated communities. A closer look at our expanding offers will protect our customers’ physical and mental health. A closer look at our people reveals the density and diversity of talent. Friendly and friendly building an integrated, digitized customer and employee experience. A focused and formidable team. We are scrutinizing our organizational sustainability and making significant changes to leave the planet in a better place.
“Together, we are a powerful force for sustainable physical, financial and spiritual well-being. We will significantly improve our lives in a connected community. This year’s results are our company’s results. It reflects the efforts of our colleagues and the beliefs that our customers and shareholders have on a daily basis. “
Read more about
Category: All, business