Africa Prudential Plc has recorded growth in its half year financial result as profit after tax increased to N1.028 billion.
The company six months operating result advance by N42.6 million or 4.3 per cent compared with N985.304 million recorded in the preceding year.
The profit before tax inched by N69 million or 6.05 per cent to N1.209 billion from N1.140 billion recorded last year. Personnel expenses engulfed N316.991 million from N288.394 million in corresponding period, indicating a surge of N28.597 million or 9.9 per cent.
A review of the company result showed that gross earnings rose by N160 million to N2.010 million from N2.170 million made in the preceding year, interest income declined to N1.140 billion at the June this year from N1.577 billion in 2018, finance costs down from N427.392 million at the end of June 2018 to N101.030 million within the period under review, cash and cash equivalent grew toN3.168 billion from N2.559 billion recorded in 2018.
Intangible assets dropped from N71.471 million to N61.50 million, debt investment at Amortized cost went to N12.357 billion from N12.436 billion, property and equipment went up to N236.186 million from N210.975 million.
Total assets rose from N21.271 billion in December 2018 to N21.930 at the end of June this year while total liabilities increased to N13.352 billion from N12.675 billion in the preceding period.
