Africa Prudential Plc (NGX: AFRIPRUD) has reported a 17% growth in gross earnings for the year ended December 31, 2022. The company’s profit after tax increased by 6% in 2022 compared to the preceding year.
Income statement
- Gross Earnings: N4.1 Billion, compared to N3.5 Billion in FY 2021 (17% YoY Growth); This comprises of ‘Revenue from contracts with customers’ and ‘interest income.’
- Revenue from contracts with customers: N1.9 Billion, compared to N1.38 Billion in FY 2021 (36%
YoY Growth); - Interest Income: N2.23 Billion, compared to N2.14 Billion in FY 2021 (4% YoY Growth);
- Profit Before Tax: N2.16 Billion, compared to N2.01 Billion in FY 2021 (8% YoY Growth);
- Profit After Tax: N1.49 Billion, compared to N1.41 Billion in FY 2021 (6% YoY Growth);
- Earnings Per Share: 75kobo. (71kobo in FY 2021).
- Proposed dividend of N0.50k for FY 2022, same as FY 2021.
Balance Sheet:
- Total Assets: N19.27 Billion, compared to N15.75 Billion as at FY 2021 (22% YoY Growth);
- Total Liabilities: N9.89 Billion, compared to N6.99 Billion as at FY 2021 (41% YoY Growth);
- Shareholders’ Fund stood at N9.39 Billion, a 7% YoY growth from N8.77 Billion as at FY 2021.
- Comparing FY 2022 to FY 2021, we observed the following key items worthy of note:
Cash flow
- Net cash of 3.53 billion was generated from operating activities in 2022 compared to N1.21 billion used in 2021.
- Net cash of N2.53 billion was used in investing activities in 2022 compared to N2.08 billion generated in 2021.
- Net cash of N1.01 billion was used in financing activities compared to N1.00 billion used in 2021.
About Africa Prudential Plc
Africa Prudential Plc. (“the Company”) ,formerly UBA Registrars Ltd was incorporated as a private limited liability company on 23rd March 2006 to take over the registrar services formally operated as a department by its former parent – UBA Global Market Limited. The company was listed on 17 January, 2013.
The Company renders share registration services to both public and private companies. The Company’s registered office address is 220B, Ikorodu Road, Palmgrove, Lagos Nigeria. Africa Prudential Plc primarily carries on the business of registrar and investor relation service in accordance with its Memorandum and Articles of Association.
As part of its business diversification strategy, it has expanded it business activities to provision of digital solutions for businesses. its flagship digital solutions product known as Easycoop is a unique softare, which is aimed at aiding the administartion of co-operative Societies in Nigeria and other digital business solution.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
