Africa Prudential Plc expects gross profit of N1 billion in Q3 2022


Africa Prudential Plc said it expects to achieve revenue of N1.00 billion for the third quarter ending September 2022.

In its statement of profit or loss and other comprehensive income forecast obtained from the Nigerian Exchange Limited (NGX), the company had forecast N472 million as revenue expense for the period. As well as N529 million as investment income for the same period.

This would represent an increase of around 28% over what the company generated as gross profit in the third quarter of 2021.

The company also aims to collect N514 million as pre-tax profit and N411 million as post-tax profit during the period.

Africa Prudential, a financial services company, recorded a profit of N403.15 million in the first quarter of 2022, an increase of 5.71% year-on-year.

Further analysis of the result revealed that the company’s revenue lines have improved leading to revenue growth over the period. Revenue growth for the period was 25.46% year-on-year, recorded at N448.33 million.

The company raked in N310 million from digital technology services, one of the company’s revenue segments. While corporate actions and registrar maintenance fees generated N66 million and N42 million respectively.

Africa Prudential also earned money from interest income generated from loans and advances, bonds and short-term deposits totaling N459.45 million, or N418 million, N40 million Naira and 546,000 Naira, respectively.

Furthermore, the company’s total assets now stand at N17.10 billion, while net assets have decreased by 6.91% to N8.16 billion.

Africa Prudential has earnings per share (EPS) for the period of 0.20 naira, an increase of 5.26% from 0.19 naira in the first quarter of 2021. On March 23, 2022, the company paid its shareholders a total of N0.50 as dividend for the year ended 31 December 2021.

Other key projections

  • Other operating income – N4 million
  • Operating expenses – 490 million naira
  • Financial cost – 1 million naira
  • Income Tax – N103 million


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