Oranta’s Net Income Down 2.4x yoy in 2007
20 February 2008
According to Interfax, Oranta Insurance’s (SORN: N/R) net income dropped 2.4x yoy to USD 0.6 mln. The company attributes the net income reduction to substantial growth in advertising expenditures and increased reserves. Last year, the company increased collection of insurance payments by 71.5% to USD 131.1 mln. Oranta’s assets totaled USD 128.8 mln, as of January 1, 2008.
