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Linkage Assurance Plc: Increase in other operating income, others boost revenue

Linkage Assurance Plc recorded a major boost from other operating income, as gross premium increased.

Published

4 months ago

October 31, 2020

Linkage Assurance Plc reported gross premium income of N2.04 billion in Q3 2020, compared to N1.59 billion in the corresponding period of 2019.

Key highlights for 2020 Q3

Gross premium income increased by 28.43% from N1.59 billion to N2.04 billion YoY.
Investment income increased to N908.77 million, +80.56% YoY.
Fees and commission income decreased to N171.27 million, -8.20% YoY.
Net premium income decreased to N1.01 billion, -1.49% YoY.
Other operating income increased to N15.12 million, +4031.42% YoY.
Gains on financial assets increased to N166.57 million, +1157.33% YoY.
Pre-tax profits increased to N611.71 million, +1156.05% YoY.
Earnings Per Share increased to 7.2 kobo, +100% YoY.

Bottom Line

Linkage Assurance Plc recorded a major boost from other operating income, as gross premium increased. Though companies have generally recorded decreased revenues in the last three quarters, mostly due to the negative impacts of COVID-19 on businesses worldwide; Linkage Assurance Plc was able to record increased gross premium income.

Pre-tax profits also increased in the period under consideration due to increased investment income and gains on financial assets.

Company Results

Rak Unity Petroleum Company Plc Posts N63 million loss in 2020 FY results

Rak Unity Petroleum Company Plc reported revenue of N1.41 billion representing a 68.14% decline from the N4.42 billion revenue reported a year earlier.

Published

3 weeks ago

February 2, 2021

Adeyemi Adebayo

Focus: This small-cap oil company is seriously lagging behind

Rak Unity Petroleum Company Plc released its 2021 FY results reporting total revenue of N1.41 billion representing a 68.14% decline from the N4.42 billion revenue reported a year earlier.

Operating expenses during the year was N149.65 million in 2020 compared to N221.89 million in 2019. –32.56% YoY
The company reported a loss after tax of N63.02 million in 2020 compared to N14.52 million loss after tax in 2019.
It reported a loss per share of N1.11 in 2020 compared to N0.26 loss per share reported in 2019.
No dividend announcement was made in their press release.
The company share price of N0.30 unchanged YTD.

See link to results here

Company Results

Conoil posts 23% post-tax profit decline in 2020 FY results

Conoil Plc reported a revenue of N117.47 billion representing a 15.95% decline from the N139.76 billion revenue reported a year earlier.

Published

3 weeks ago

February 2, 2021

Adeyemi Adebayo

Conoil Plc released its 2021 FY results reporting revenue of N117.47 billion representing a 15.95% decline from the N139.76 billion revenue reported a year earlier.

Operating expenses during the year was N7.64 billion in 2020 compared to N9.68 billion in 2019. –20.9% YoY
The company reported a profit after tax of N1.52 billion in 2020 compared to N1.97 billion in 2019. –22.97% cut YoY.
It reported an earnings per share of 219 kobo in 2020 compared to 284 kobo earnings per share reported in 2019. –22.89% YoY.
No dividend announcement was made in their press release.
The company share price of N20.85, up +0.72% YTD.

See link to results here

Nairametrics

Linkage Assurance Plc: Increase in other operating income, others boost revenue

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Linkage Assurance Plc: Increase in other operating income, others boost revenue

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Company Results

Rak Unity Petroleum Company Plc Posts N63 million loss in 2020 FY results

Company Results

Conoil posts 23% post-tax profit decline in 2020 FY results

Nairametrics | Company Earnings