Bank PHB release 9 months result
April 23rd, 2008 Ugonna Maduagufor || ugonna@stockmarketnigeria.com
(by Ugonna Maduagufor)
Investors has been responding to the recent, Platinium and Habbib Banks 9 months unaudited results for the period ended 31st March 2008. The company’s stock traded the highest number of unit shares (volume) as at yesterday on the Nigerian Stock Exchange with 57,495,049 unit shares. The recently released result showed: a Change Gross Earnings(Turnover) of N55.179billion making a 166.58 percent appreciation over its year 2007 comparable period of N20.698billion; the Profit Before Taxation was N19.033billion as against year 2007 comparable period of N5.78billion indicating a 228.99 percent increase; the Taxation cash outflow was N14.846billion in 2008 against a year 2007 comparable period payment of N1.272billion; the Profit After Taxation theirfore was N14.846billion against a previous year 2007 comparable period of N4.512billion indicating a very encouraging 288.99 percent growth.
The banks nature of business is classified as Universal banking, having an eanings per share of N1.27 with regards to the result. A close peer in same Banking sub-sector Oceanic bank Plc though a commercial bank ealier posted a Profit After Taxation of N20.301 billion as against N8.278 billion in 2007 comparable period, showing an increase of 145 percent. Based on the company’s current capital structure, showing a total number of outstanding shares as 11,642,006,625, the earnings per share of the company as a result is an impressive N1.64 per share.
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