XL reports solid Q2 results
by Richard Kilner
Story link: XL reports solid Q2 results
XL Group plc has reported its financial results for the second quarter of the year, including net profits of $221.2m, equating to $0.71 per share.
Year-on-year, the firm’s net income has remained essentially unchanged, with only a marginal difference from the net income of $226m ($0.69 per share) the firm achieved in Q2 2011.
Compared to the preceding quarter (Q1 2012) the quarterly profits are significantly up, rising from $176.6m ($0.56 per share).
Biannual net profits came to $397.8m ($1.26 per share), a vast improvement on the net loss of $1.6m (a loss of $0.01 per share) that the firm suffered during the corresponding period last year.
Chief Executive Officer Mike McGavick said that the second quarter was a solid one for the firm, adding that XL was resolved to continue making progress.