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

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.