Axa Mansard Plc (NGX: MANSARD) has forecasted a Profit of N2.65 billion for the first quarter of 2022. The forecasted profit will be 1.05% above the N2.63bn it reported in Q1 2021.
The forecasted profit will put the Insurer’s Earnings Per Share (EPS) at 30Kobo. This is 57.78% lower than Q1 2021’s EPS which was 70Kobo.
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The drop in EPS despite increase in Profit is due to the bonus shares created by MANSARD in 2020.
Other highlights of the Earnings forecast seen by Investogist are;
- Gross Premium written: N28.58 billion, up 14.00% from N25.07 billion reported in Q1 2021.
- Underwriting Profit: N4.16bn, up 6.79% from N3.89bn reported in Q1 2021
- Profit Before Tax: N3.05bn, up 4.77% from the N2.91bn reported in Q1 2021.
- Cashflow from Operating Activities: The company will use N3.82bn in operating activities, against N4.82bn it generated in Q1 2021
- Cashflow from Financing Activities: N77.28mn to be used, against N77.28bn used in Q1 2021.
- Cashflow from Investing Activities: N2.66bn will be generated from investing activities, against N14.74bn used in Q1 2021
- Cash/Bank Balances at the end of the period: N2.84bn, against N10.35bn it had at the end of Q1 2021
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
