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.
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