Prestige Assurance Plc released its earnings forecasts for the fourth quarter of the year (Q4, 2021).
- Turnover is projected to hit N9.25 billion
- Profit before tax is projected at N1.39 billion
- Tax is projected at N278 million
- Profit after tax is projected at N1.11 billion.
The forecasts were made based on the following assumptions;
- There will be no serious Government restrictions on trade that will affect the insurance business.
- The company will not suffer any major catastrophe which will necessitate liquidation of investment portfolio for claims payment.
- There will not be any considerable reduction in the level of interest rate.
- The capital Market activities will improve significantly from the bearish position to the bullish.
- The country political climate shall be stable for carrying out business activities across the nation.
- The company will continue to deal with its present range of insurance policies.
- The company will enhance its present treaty arrangement due to recapitalization.
- The accounting policies will not change.
- The basis of taxation will not change materially.
- The company would maintain its present work force and additional hands will be employed to take care of increased business activities.
- There will be vigorous effort to improve upon the present market share.
- A part of the Proceed from recapitalization will be invested in government gilts to enhance investment income.
- There shall be no protest, pandemic and other pandemonium which might affect business transactions negatively.
- There will be availability of forex to meet up with the company’s obligation denominated in foreign currencies.
See link to forecasts.
