Investors failed to compensate the share price of FBN Holding Plc on Wednesday April 25, 2018, despite the company improved performance both at the top and bottom line, as the group share price went down by 5.22 percent to close at 12.7 kobo. This is contrary to market operators’ expectation whom have been getting demands mandate in the past few weeks.
Details of the company performance shows that 25 kobo dividend was proposed for the full year ended December 31, 2017, which is above 10 kobo that was paid in 2016. Closure date for the corporate action is May 7, 2018, while payment is May 16, 2018, Shareholders Annual General Meeting (AGM) is schedule to hold on May 15, 2018 in Lagos.
Analysis of the audited accounts shows that gross earnings went up by 2.34 percent from N581,831 billion in 2016 to N595,444 billion in 2017. Interest income grew by 15.87 percent from N405,281 billion in 2016 to N469,586 billion in 2017.
Profit before tax was up by 147.63 percent from N22,948 billion in 2016 to N56,825 billion in 2017. Profit for the period under consideration was up by 226.81 percent to N40,011 billion which is above N12,243 billion that was reported same period in 2016. Earnings per shares was up by 208.96 percent from 0.39 kobo in 2016 to N1.22 kobo in 2017.