Iron Rock reports lower losses for Q1 2020 supported by non-core Income
- Iron Rock Insurance reported unaudited net loss of $2.81Mn (EPS:-$0.01) for the three months ended March 31, 2020. This represents a 71.1% (or $6.92Mn) reduction from the $9.73Mn net loss that was reported one year prior.
- The main drivers of this outcome was a 161.0% (or $12.49Mn) increase in other income due to improvements in investment income, gains from sale of investment and foreign exchange gains..
- The stock has fallen 38.73% since the start of the calendar year and closed Tuesday’s trading session at $2.16. At this price the company’s stock currently trades at a P/B of 0.88x which is below the Junior Market Financial Sector Average of 2.72x.
(Source: Iron Rock Financials)