Vitafoam Nigeria Plc release results as Mutual Benefit declares 6 kobo.
May 29th, 2008 Ikechukwu Emelike || ikechukwu@stockmarketnigeria.com
By Ikechukwu Emelike.
Mutual Benefit Assurance Plc.
Mutual Benefit Assurance Plc has released its audited result for the year ended December 31, 2007 to the floor of the Nigerian Stock Exchange. The company was able to improve on its gross premium for the full year by 13.51 percent from N1.947 billion in 2006 to N2.210 billion in 2007. Profit before tax for the period under review appreciated by 64.15 percent from N0.742 billion in 2006 to N1.218 billion in 2007.
After tax profit moved from N0.702 billion in 2006 to N1.037 in 2007, signifying an increase of 47.72 percent. The company has proposed a dividend payout of 6 kobo, its closure date is 16 - 21 June 2008.
Vitafoam Nigeria Plc.
Vitafoam Nigeria Plc made public its unaudited half year result for the period ended 31 March 2008. Highlights of the results showed that turnover for the half year period increased by 44.41 percent from N2.844 billion in the same period in 2007 to N4.107 billion in 2008.
Profit before tax rose by 44.08 percent from N0.304 billion recorded in the same period in 2007 to N0.438 billion in 2008. After tax profit also grew by 43.96 percent from N0.207 billion in 2007 to N0.298 billion in 2008.
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