GT Bank, Linkage Assurance Plc out with 2nd quarter results
December 21st, 2007 The Editor || eic@stockmarketnigeria.com
By Tunde Brown
GT bank last week on the floor of the Nigerian Stock Exchange, released its second quarter results, which revealed a steady, consistent and promising advance, as compared to the same period last year. The company’s innovation in its customer service delivery channels has impacted greatly on what some have described as, “ a positive signal in the heart of Nigerian investors”.
Growing its turnover and profit after tax by 58.02 percent and 56.96 percent respectively, the company indeed justifies the position that its earning per share which currently stands at 85 kobo as at second quarter ended, would be in the region of N1.20 by year end.
In a similar development, Linkage Assurance Plc released its audited results for the financial year ended December 31st, 2006, alongside the second quarter results as at June 30th, 2007. The company, which suffered certain set backs from the plight of its parent company, the defunct All States Trust Bank, appeared to have bounced back from a period of losses to profitability.
Linkage Assurance Plc increased its second quarter turnover from N386 million as at 2006 to N876 million in 2007, representing 137.95 percent change. Similarly, its profit after tax leaped from N18.4 million to N168.8 million signifying an 817.39 percent increase. These indicators have drawn widespread speculations that the company would very likely reward its shareholders by year-end, after two years of no dividend.
Though Linkage Assurance Plc’s earning per share (EPS) currently stands at 9 kobo, it is equally believed that the company may breast the tape of the 20 kobo mark by year-end (as at last year end - 2006, its EPS was 4 kobo).
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