Universal Insurance reports N2.33bn as turnover, PAT rises by 300.58% in Q1

Universal Insurance Plc has published its First Quarter report for the period ended 31 March 2022.

The underwriting firm achieved significant growth in its topline and bottom line figures year on year.

Gross Premium Written of N2.33 billion was reported for the 3 months period, up by 47.60% from N1.58 billion reported the previous year.

Profit after tax grew by 300.58% to N674 million from N168.29 million reported in Q1 2021. Earnings per share increased significantly to 4 kobo from the EPS of 1 kobo.

At the share price of 20 kobo, the P/E ratio of Universal Insurance stands at 4.75x with earnings yield of 21.07%.   

Source: Universal Insurance reports N2.33bn as turnover, PAT rises by 300.58% in Q1 – StocksWatch (stocksng.com)

Related Posts

25

May
Business & Economy

Stock Market Review: May 25, 2023

The stock market on Wednesday closed on a positive note with 0.58% growth. The All Share Index and Market Capitalisation stands at 52,927.60 points and 28.819 trillion respectively. In a stock market review with Gilbert Ayoola, a capital market expert, the following were discussed: Excerpts: The monetary policy committee of CBN has increased MPR to 18.5%. How will this […]

25

May
Business & Economy

Oando kicks-off Sustainable Transport Initiative in Lagos State with launch of Electric-Mass Transit buses

Oando Clean Energy Limited (OCEL) has achieved a groundbreaking milestone with the launch of the first phase of its Sustainable Transport Initiative for Lagos State. The initiative will see OCEL introducing electric buses to LAMATA’s current fleet of buses. The endeavor aims to support the transformation of the State’s public transport system through the development and deployment[…]