Africa Prudential grows gross earnings to N4.1bn in 2022

Africa Prudential Plc has recorded N4.1 billion in gross earnings for the year ended December 31, 2022.

The Company’s audited results for 2022 revealed that revenue from contracts with customers grew by 36 per cent to N1.9 billion, compared to N1.38 billion in 2021, while interest income recoded four per cent growth to N2.23 billion from N2.14 billion in 2021.

Gross Earnings for the period under review grew by 17 per cent to N4.1 billion as against N3.5 billion in 2021. Profit before tax increased by eight per cent to N2.16 billion from N2.01 billion in 2021. Profit after tax grew by six per cent to N1.49 billion, compared to N1.41 billion in 2021, while earnings per share stood at 75 kobo from 71 kobo in 2021. The Company’s director proposed dividend of 50 kobo per share for full year 2022.

Total assets grew by 22 per cent to N19.27 billion, compared to N15.75 billion in 2021, while shareholders’ fund stood at N9.39 billion, a seven per cent year-on-year growth from N8.77 billion as at full year, 2021.

The Company said “its results remain a testament to the impact of our deliberate efforts at diversifying and strengthening our revenue lines to multiple income lines, innovating new ways to deliver value, and adopting cost efficiency in every facet of our operation.”

Africa Prudential, a business solution and share registration service provider. The Company is leveraging technology to transform service experience across its various business lines.