Africa Prudential Plc released its Unaudited Financial Statement for the period ended march 31, 2019 on the 18th of April 2019.
The Income Statement of the only listed registrar of the floor of the Nigerian Stock Exchange revealed the following:
- Revenue from contracts with customers grew by 23% to close at N273.86 million compared to the previous close of N223.55 million in Q1 2018.
- Interest Income closed at N595 million which is a decline of 18% YoY compared to the previous close of N734 million.
- Gross Earnings declined by 9% YoY, closing at N869.4 million compared to the previous close of N957.8 million in Q1’18.
- Profit Before Tax declined by 17% to close at N453.7 million against the previous close of N541.7 million in the first quarter of 2018.
- The firm made a Profit after Tax of N381.5 million, down by 17% compared to the previous PAT of N460.9 million in the Q1 2018.
- The Earnings per Share (EPS) for the period under review is 19 kobo compared to the previous EPS of 23 kobo in Q1’18.
- With reference to the share price of N4, the PE ratio of Africa Prudential Plc is 21.05x with earnings yield of 4.75%
- There was a noticeable decline of 46% in the Finance Cost within the quarter under review following the full settlement of the outstanding bank loans which led to a reduction in interest paid within the quarter compared to the same period last year.