FCMB’s Profit After Tax Crashes By 22 percent

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FCMB Group Plc released its Q2 2021 Unaudited results for the period ended June 30th, 2021 with Profit After Tax sharply down by 22percent from N9.7 billion in the previous quarters to N7.billion while Profit before tax declined by -20% to N8.9bn. from N11,1 billion ‘Also, its Gross Earnings following the same backtracking by 4percent to N94bn from N98bn in the previous quarter. The above developments impacted negatively on the earnings per share which crashed by 22percent from 49k to 38k However its Net Assets grew by 3.2% from N227bn to N234bn.share Its share Price as at the time these results came out was N3:02k The current share price of FCMB Group Plc is N3.00. FCMB closed its last trading day (Monday, August 2, 2021) at N3.00 per share on the Nigerian Stock Exchange (NGX). FCMB began the year with a share price of 3.33 NGN but has since lost 9.91% off that price valuation, ranking it 129th on the NGX in terms of year-to-date performance.

FCMB Group is the 16th most traded stock on the Nigerian Stock Exchange over the past three months (Apr 28 – Aug 2, 2021). FCMB has traded a total volume of 335 million shares—in 3,045 deals—valued at NGN 1.03 billion over the period, with an average of 5.32 million traded shares per session. A volume high of 40.7 million was achieved on June 29th, and a low of 81,051 on May 26th, for the same period. The table below details the last 10 trading days of activity of FCMB on the Nigerian Stock Exchange.

FCMB Group Plc provides financial services including micro-lending, asset management, stock-broking, trusteeship and custodial services, foreign exchange, personal banking, corporate and commercial banking, investment banking and transaction banking products delivering cash, trade and liquidity management solutions to entities