Novae reports 'encouraging' results

Highlights:

Profit before tax and foreign exchange movement on non-monetary items: £16.8m, up 8% (H1 2007: £15.6m) Operating profit before tax and foreign exchange movement on non-monetary items: £23.1m, up 3% (H1 2007: £22.4m) Combined ratio: 86.7% (H1 2007: 86.1%) Earnings per share: 21.4p (H1 2007: 17.2p) Net tangible assets per share: 381p (June 2007: 339p) Interim dividend per share: 2.5p (H1 2007: nil) Gross written premium: £186.0m (H1 2007: £173.3m) Net earned premium: £125.9m (H1 20