20% rise in LPI Capital net profit

KUALA LUMPUR: LPI Capital Bhd’s net profit in the first quarter ended March 31, 2014 increased 20% to RM50.6mil from RM42.1mil a year ago, on improved performance by Lonpac Insurance Bhd.

Revenue went up to RM277.79mil in the quarter from RM258.46mil in the same period last year while earnings per share rose to 22.96 sen from 19.11 sen last year, LPI Capital told Bursa Malaysia yesterday.

The group’s net return to equity for the quarter under review improved to 3.3% from 3.2% previously.       

In a separate statement, LPI Capital founder and chairman Tan Sri Dr Teh Hong Piow said the group would continue to strengthen its agency force and increase its distribution network in order to have a stronger foothold nationwide.       

“The group is confident that with the strong foundation that we have built, we will overcome the market volatilities and continue to report favourable results for the next quarter of the year,” he said.