FCMB H1 2017 Pretax Profit Drops -76.5%

Ladi Balogun, Group Chief Executive at FCMB Group Plc

By InvestAdvocate

Click here to download full PDF Copy of FCMB Group Plc Unaudited Interim Financial Statements For the period ended 30 June  2017

July 31, 2017 Lagos (INVESTADVOCATE)- FCMB Group Plc said last Friday its first half (H1) profit before tax (PBT) for the period ended June 30, 2017, 2016 dropped 76.5 percent to N3.82 billion from N16.28 billion recorded a year ago.

Profit after tax (PAT) also declined 80.7 percent to N3.01 billion from N15.66 billion in the corresponding period of 2016.

Gross earnings of FCMB dropped from N88.28 billion in the H1 of 2016 to N77.50 billion in the review period of 2017; indicating a depreciation of 12.2 percent, the financial HoldCo said in a filing with the Nigerian Stock Exchange (NSE).