NEM Insurance Plc (NGX: NEM) has projected that it will grow its Profit After Tax (PAT) in the first quarter of 2023 by 54.89% in comparison with its profit in the first quarter period ended 31st March, 2022.
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NEM projects profit after tax of N2.39bn in Q1 2023, which is significantly higher than the N1.54bn profit it reported in Q1 2022, from a Gross premium of N15.33bn (Q1 2022: N12.70bn)
NEM has 5,016,477,767 outstanding shares and a market capitalization of N22.57bn.
The Insurer forecasted an Earnings Per Share of N0.24, and a Return on Equity (ROE) of 8kobo.
It’s share price at the end of trading on Friday is N4.50. The 52 week high price is N5.65 while the 52 week low price is N3.01.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
