Mutual Benefits Assurance reports N1.65bn as profit in Q1 2022

Mutual Benefits Assurance Plc on Tuesday published its long awaited Q1 result for the period ended 31 March 2022.

The result shows significant growth in the Group’s topline and bottom line figures year on year.

A turnover of N10.987 billion was reported for the 3 months period, up by 35.44% from N8.112 billion reported the previous year.

The underwriting firm reported a Profit after tax of N1.65 billion in Q1 2022, up by 183.52% form the loss after tax of N1.97 billion reported the previous year.

The earnings per share of the Group in Q1 grew to 8 kobo form the negative EPS of 10 kobo reported the previous year.

At the share price of 25 kobo, the P/E ratio of Mutual Benefits Assurance stands at 3.04x with earnings yield of 32.89%.

Source: Mutual Benefits Assurance reports N1.65bn as profit in Q1 2022 – StocksWatch (stocksng.com)

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