ValuAlliance Value Fund (“Value Fund” or the “Fund”), formerly called the SIM Capital Alliance Value Fund, has declared a Profit After Tax of N237.96 million for the third quarter of 2020 (Q3 2020).
This is according to the firm’s recent financials, sent to the Nigerian Stock Exchange and seen by Nairametrics.
Nairametrics gathered that the firm’s Profit After Tax figure for Q3 2020 improved by 1,657% from a loss of N15.28 million it recorded in the corresponding period last year (Q3 2019).
Other key highlights of the Q3 2020 financials
- Total revenue increased to N227.02 million, +7,672% Y-o-Y.
- Net operating income increased to N240.7 million, +2,080% Y-o-Y.
- Interest income declined to N51.13 million, -30.3% Y-o-Y.
- Dividend income decline to N26.57 million, -10.2% Y-o-Y.
- Total expenses declined to N18.6 million, -0.5% Y-o-Y.
- Total liabilities declined to N20.46 million, -0.3% Y-o-Y.
- Total assets increased to N4.93 billion, +5% Y-o-Y.
- Total equity increased to N4.91 billion, +5% Y-o-Y.
- Earnings Per share increased to N7.41, +1657%.
In case you missed it: Nairametrics reported that ValuAlliance Value Fund had earlier distributed value fund of N10 per unit for half year 2020 (H1 2020).
Bottom line
The firm recorded a massive growth in profit within the period under review by minimizing costs and maximizing revenue, as evident by a minimal decline in total expenses and a massive increase in total revenue.
Despite recording a decline in revenue components like interest and dividend income within the period under review, the firm recorded overall massive growth in its total revenue by maximizing its net gain from financial instruments at fair value through profit, overturning a loss of N15.28 million as at Q3 2019 to a profit of N237.96 million in Q3 2020.