Zenith Bank Plc posts N40 billion profit in 3rd quarter
May 7th, 2008 Ogbuotobo Chuks || chuks@stockmarketnigeria.com
By Ogbuotobo Chuks
Reputed to be one of the best in the country and Africa as a whole, Zenith Bank Plc has once again done impressively well as expected by many. The company recently released its 3rd quarter result for the period ended March 31, 2008 wherein it posted a profit before tax of N40.63 billion. The highlights are as detailed below.
In the results released on the floor of the exchange, turnover for the period increased by 70 percent, from N70.76 billion in 2007 to N120.31 billion in 2008. Profit before tax increased by 111 percent from N19.25 billion in the corresponding quarter of 2007 to N40.63 billion in 2008. After tax profit was up 137 percent from N14.08 billion in 2007 to N33.32 billion in 2008.
Most investors would expect that this result causes a rally in the share price of the stock. Ever since the conclusion of its last public offer, the share price of the stock has not crossed that N50.00 mark.
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