LASACO Assurance Plc has said its Profit After Tax grew significantly from the N382.4 million recorded during the corresponding period in 2018.
The company reported a 25% growth to hit N479.4 million in 2019 Half-Year financial report.
This and other Key Performance Indicators (KPIs) of the company are stated in the underwriter’s unaudited financial statements for the period under review posted on the website of the Nigerian Stock Exchange (NSE) on Tuesday.
Gross Premium inched up by 11% from N6.1 billion in 2018 to N6.8 billion on June 30, 2019, while Profit Before Tax (PBT) for Half Year 2019 climb by 21% compared to the corresponding period of 2018.
In specific terms, the PBT rose from N527.5 million in 2018 to N639.9 million this year, indicating an appreciation of N112.3 million over six months.
The overall improvement in the company’s major performance parameters, notably its earnings, impacted the Earnings Per Share (EPS) favourably during the period. This went up by 28.57% from 7 kobo to 9 kobo for 2018 and 2019 respectively.
Why this matters: The growth in LASACO Assurance KPI is a development that the company shareholders should be happy about. It generally implies that the company is on a sound financial footing and can record greater yields across all performance parameters at the current pace.
Interestingly, this impressive trend should be enough to sustain confidence in the current investors and could be a good motivation for potential investors to look the way of LASACO Assurance shares. Given the positive momentum, the company might end the year with greater results.
On Earnings Per Share: Earnings Per Share is the profit that each unit of a company’s ordinary shares yields during a particular period. It is simply calculated by dividing the Profit After Tax by the company’s total outstanding shares. Increase in a company’s EPS often reflects an improvement in its bottom-line, while a fall, on the other hand, indicates a declining profit.
LASACO Assurance currently trades on the floor of the NSE at 37 kobo per share.