H1’20: Mutual Benefit garners N10bn turnover, improves EPS by 9.69%

Mutual Benefits Insurance Plc released to the Nigerian stock Exchange, the (NSE) its unaudited half year financial report for the period ended 30th June 2020 on 28th July, 2020.

The Insurance Company garnered a total gross earnings of N10.17 billion in 2020, up by 4.99% when compared with N9.68 billion reported in 2019.

The Profit after tax of the company grew to N1.567 billion, which is an upsurge of 9.69% from the Profit after tax of N1.428 billion reported in 2019 half year.

Earnings per share of the insurance company for the period under review stands at N0.14, improved by 9.69% when compared with the previous earnings of N0.13 in 2019.

With reference to the share price of N0.22, the P.E ratio of Mutual Benefit stands at 1.57x with earnings yield of 63.74%.

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