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__________________
“The market can remain irrational longer than you can remain solvent.” - John Maynard Keynes |
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__________________
“The market can remain irrational longer than you can remain solvent.” - John Maynard Keynes |
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Guaranty Trust Bank, GTBank, Plc has concluded arrangements to sell its insurance subsidiary, Guaranty Trust Assurance Plc to a Mauritius firm, Assur Africa Holding, AAH, comprising three private equity funds and three international developmental finance institutions based in United Kingdom, France, Tunisia and Germany.
Read more: GTBank, AAH in N12bn deal for sale of GT Assurance |
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GT ASSURANCE PLC 12 August 2011
AUDITED June 30 2011 2011 2010 Turnover N6.101b N4.774b Profit Before Tax N713.647m N511.223m Taxation (N193.848m) (N43.925m) Profit After Tax N519.799m N467.298m Balance Sheet Information 30-06-11 31-12-10 Fixed Assets N415.560m N384.184m Investment N4.697b N4.240b Short Term Investments N5.953b N7.334b Trade Debtors N1.738b N934.603m Cash and Bank Balances N1.532b N392.964m Other Debit Balances N8.101b N6.257b Insurance Fund N3.964b N2.365b Other Credit Balances N5.987b N4.309b Net Assets N12.488b N12.868b
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For every buyer there is a seller, and the future will prove one of them to have made a mistake.
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Quote:
Ogas, please help explain this O, I see a profit after tax of N519.799m yet Net Asset (another name for Shareholders fund) decreased by a whooping N380m! I am no longer sure about my accounting skills, but is there an exceptional item that by passes the Income statement through the Comprehensive Income Statement to the Balance sheet? I beg O
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Confidence... thrives only on honesty, on honor, on the sacredness of obligations, on faithful protection and on unselfish performance. Without them, it cannot live." -- Franklin Roosevelt, 32nd U.S. president |
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WHATS HAPPENING ON THIS STOCK TODAY???
6.7b UNITS CROSSED EARLY THIS MORNING!!!! ![]() COULD THIS BE THE NEW OWNERS TAKING OVER THE SHARES FROM GTBANK???
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“The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.”-William Arthur Ward |
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Quote:
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“Successful investing is anticipating the anticipations of others.” (John Maynard Keynes quotes (English economist, journalist, and financier, 1883-1946) |
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No..not yet. They intend to book the extra-ordinary income at full year. Only that from the sale of Interswitch has been booked so far...
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when an earthworm begins to crawl like a millipede, it's time to run to the king's palace...naked! - horlads A hen that leaves her chicks unguarded should not complain when the predatory hawk comes calling - horlads |
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Meaning an end year 2011 PAT of greater than N53b may be in the offing? The sale net of tax was circa N8b?
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__________________
The cheapest stock in an overvalued market may still be overvalued |
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The cheapest stock in an overvalued market may still be overvalued |
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If you have been trying to transfer cash online thru Gtbank to your loves one for xmas celebration and not successful yet. here is a message from d bank.
GidiLinks: Fire shuts down GT Bank services in Nigeria |
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Guaranty Trust Assurance Plc announces Board Meeting; 2011 FYE Statement tops agenda
February 02, 2012 The Company has notified The Exchange that its Board meeting is scheduled to hold on Wednesday, February 15, 2012 to consider the company’s Audited Financial Statements for the year ended December 31, 2011 The Directors may discuss issues relating to dividend at the meeting.
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The cheapest stock in an overvalued market may still be overvalued |
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RESULT ANNOUNCEMENT
GUARANTY TRUST ASSURANCE PLC May 3rd, 2012 http://www.nse.com.ng/Financial%20Ne...2unaudited.pdf |
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