Africa Prudential records a 16% PBT increase in Q1 2021

Africa Prudential Plc ( “Afriprud”), a technology company, offering digital technology solutions and services, share registration, and e-commerce services, announced its Unaudited Financial Statements for the period ended March 31, 2021, showing a Revenue of N0.83 Billion and Profit Before Tax of N 0.48 Billion, while delivering an Earnings Per Share of 19 Kobo.

Africa Prudential is leveraging technology to transform service experience across its various business lines. Highlights from the released results include:

Year-on-Year Analysis (Q1 2021 to Q1 2020) reveals the following:

  • Revenue from contracts with customers: N0.36 Billion, compared to N0.13Billion in Q1 2020 (172% YoY Increase);
  • Interest Income: N0.47 Billion, compared to N0.61 Billion in Q1 2020 (23% YoY Decline);
  • Gross Earnings: N0.83 Billion, compared to N0.74 Billion in Q1 2020 (11% YoY Increase);
  • Profit Before Tax: N0.48 Billion, compared to N0.41 Billion in Q1 2020 (16% YoY Increase);
  • Profit After Tax: N0.38 Billion, compared to N0.34 Billion in Q1 2019 (12% YoY Increase);

While commenting on the company’s performance the MD/CEO, Mr. Obong Idiong had this to say: 
“As the business and macroeconomic landscape continue to re-adjust to the impacts of the Covid-19 pandemic, we are focused on leveraging our digital technology competence to reinvent our processes, enhance customer experience and create new areas of value for clients across our various businesses.”

“While we continue to record improved performance in our Digital Technology Consulting Business, we will consolidate on these gains, deepen and expand our value offerings in the Registrars and Capital market space; continuously deploying digital offerings to create wealth in the Cooperative and e-Commerce landscape.”
More information can be found at: https://africaprudential.com/investor-relations/

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