Prestige Assurance declares N649.7m profit in FY’20

The Unaudited reports for the full year ended December 31st, 2020 of Prestige Assurance Plc showed a growth of 18.64% in topline figures to close the period at N7.031 billion from N5.926 billion reported same period the previous year in 2019.

The unaudited full year financial reports which hit the market on the 8th February, 2021 revealed a growth of about 74% in Profit before Tax to N889.95mn, above N509.61mn recorded in the preceding year of 2019.

The profit after tax for the period under review soared from N431.83mn in 2019 to N649.66mn in the current period, implying 50.45% growth in (PAT).

The earnings per share consequently grew by 50%, from 3kobo in 2019 to 5kobo in the period under review.

The PE Ratio for the current period stands at 9.79x and the earnings yield at 10.21%.

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