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2014 Q1: Africa Prudentials Post Tasty 43% Rise in Pre-Tax Profits..See details

NairametricsbyNairametrics
9 years ago
in Uncategorized
2014 Q1: Africa Prudentials Post Tasty 43% Rise in Pre-Tax Profits..See details
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Africa Prudential Plc released its 2014 Q1 results posting a pre-tax earnings of N319million representing a 43% rise from the N224million posted a year earlier.

Keynotes

  • Revenue fro Fees and Commission was N185million a 33% increase from the N138.6million posted a year earlier
  • Net investment income was N281million a 69% increase from the N166million posted a year earlier
  • Operating expenses rose to N155million an 82% increase from the N85million posted a year earlier.
  • “General administrative expense rose 6 folds from N10.2million to N62.8million a major factor in the increase of operating expenses.
  • This may not be unconnected to the increased operating expenses emanating from its recently acquired subsidiaries.

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