Q1’20: Omoluabi Mortgage Bank posts N27.84m as profit

Omoluabi Mortgage Bank for the first three months of the year 2020, declared a profit after tax of N27.84 million. This was reported in its published unaudited financial statement for the period ended 31 March 2020.

The mortgage bank in the first quarter of 2020 reported a turnover of N114.39 million, down by 8.55% when compared to N125.08 million reported in Q1’19.

Profit after tax (PAT) for the first quarter of 2020 was N27.84 million, down by 16.28% when compared to the PAT of N33.25 million in Q1’19.

Earnings per share of the firm is approximately N0.005568 (approximately 1 kobo).

With reference to the share price of N0.60, the P.E ratio of Omoluabi Mortgage Bank is calculated as 107.76x with earnings yield of 0.93%.

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