- Infinity Trust Mortgage Bank (ITMB) Plc has recorded 6.87 per cent decline in profit before tax for the third quarter ended September 30, 2016.
- According to a notice from the Nigerian Stock Exchange (NSE), the statement of financial position as at the period under review showed profit before tax was down to N198.440 million in 2016 as against N213.079 million recorded a year earlier, depicting a drop of 6.87 per cent.
- However, the company’s profit after tax firmed up marginally by 0.79 per cent from N181.117 million in 2015 to N182.565 million recorded in 2016.
- The company’s revenue equally rose to N581.767 million in contrast to N555.245 million during the comparable period of 2015
- ITMB recorded 29.49 per cent growth in profit after tax for the half year ended June 30, 2016.
- The statement of financial position showed profit after tax rose to N134.668 million in 2016 as against N103.996 million recorded a year earlier, indicating a growth of 29.49 per cent. Its profit before tax also firmed up by 29.49 per cent from N116.850 million in 2015 to N151.312 million recorded in 2016.
- The company’s revenue equally grew to N401.082 million in contrast to N333.703 million during the comparable period of 2015, while its earnings per share also rose by 29.46 per cent from 4.99 kobo to 6.46 kobo. Infinit
- Trust recorded a profit after tax of N232.147 million for the year ended 2015.
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Infinity Trust Reports Marginal Drop in Pretax Profit
