KUALA LUMPUR (Jan 9): LPI CAPITAL BHD [] was the first company to report its financial results for the October-December 2011 quarter, registering a 6.5% increase in net profit to RM39.33 million from RM36.94 million a year ago, boosted by the general insurance business.

The insurance company said on Monday revenue rose 25.5% to RM239.32 million from RM190.63 million largely contributed by the general insurance segment which marked a commendable growth of 26.2% over the corresponding quarter.

“The increase was mainly contributed by higher gross earned premium for the quarter which registered an increase of RM47.4 million (25.8%) over the corresponding quarter,” it said.

LPI said earnings per share were 17.85 sen compared with 16.77 sen. It announced a second interim single tier dividend of 50 sen per share versus 45 sen a year ago.

For the financial year ended Dec 31, 2011, its earnings rose 12% to RM154.49 million compared with RM137.91 million in FY10. Its profit before tax of RM200.10 million showed an increase of RM18.80 million (10.4%) compared to last year.

“The increase in profit before tax was contributed by the general insurance segment, which recorded a profit before tax of RM174.8 million, up by RM26.3 million from last year.

“Investment holding segment recorded a lower profit before tax of RM25.3 million compared to RM32.9 million last year mainly due to lower dividend income,” it said.

Its revenue rose at a stronger pace of 20% to RM902.73 million from RM751.72 million mainly contributed by the general insurance segment which recorded a growth of 22.3%.