Enterprise Group PLC has reported a significant decline in profitability for the first quarter ended March 31, 2026, with profit falling by 49% to GHS71.3 million from GHS140.1 million in the same period last year.

The insurance and investment holding company attributed the drop mainly to a sharp increase in net insurance finance expenses, which rose to GHS101.8 million from GHS4.5 million a year earlier. This surge placed considerable pressure on the group’s earnings.

The company’s insurance service result after reinsurance also weakened, moving from a profit of GHS57.2 million in the first quarter of 2025 to a loss of GHS20.6 million in the reporting period. Despite these challenges, insurance revenue remained relatively stable, recording GHS419.4 million compared with GHS441.2 million in the previous year.

At the parent company level, Enterprise Group recorded a slight loss of GHS672,000, a decline from a profit of GHS13.9 million in the same period last year.

Earnings per share also dropped, falling to GHS0.310 from GHS0.495 year-on-year, reflecting the weaker overall performance.

Cash flow figures showed additional pressure on liquidity. Cash generated from operations dropped sharply to GHS37.6 million from GHS171.6 million. The group’s cash position also weakened significantly, with cash and cash equivalents falling from GHS607.2 million at the beginning of the period to GHS54.8 million at the end.

The financial statements were signed by group chief executive officer Daniel Larbi-Tiekku.

Overall, the results point to a challenging start to 2026 for Enterprise Group, largely driven by rising finance costs and weaker insurance service performance, even though revenue levels remained relatively steady.