Africa Prudentials Grows Profit by 14%…I’m Loving It
Africa Prudential Plc released its half year results showing an 18% increase in revenue to N1billion (2013 H1:N915m). Pre-tax profit also increased 14% to N702million compared to N614milion a year earlier. Earnings per share for the period was 27kobo compared to 24kobo posted a year earlier. Operating expense as a percentage gross profit rose slightly during the period.
A key indicator for me is return on equity. ROE was 13% for the period and if it keeps up with this trend may beat late year’s 21%