H1 2018 Results: FCMB Group Plc posts 90% increase in profit

First City Monument Bank (FCMB) Group Plc, today, released its H1 2018 financial statements for the year ended 30 June 2018.

Here are the key highlights of the reports:

Revenue

The group reported Gross earnings of ₦83.92 billion for the period ended June 2018 compared to ₦77.51 billion reported for the period ended June 2017. This represents an 8% increase for the comparative period in 2017.

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Profit Before Tax

Profit before tax was ₦7.10 billion for the period ended June 2018, an 86% increase from ₦3.82 billion reported for the period ended June 2017.

Profit After Tax

The group’s profit after tax for the half year ended 30th June 2018 was ₦5.73 billion, compared to ₦3.02 billion recorded in H1 2017. This represents a 90% increase for the comparative period in 2017.

Earnings Per Share

FCMB Plc reported earnings per share of 57 kobo for the period ended June 2018 as against earnings of 30 kobo reported for the comparative period in 2017.