Consolidated Hallmark Insurance Plc projects PBT of N336.6 million for Q1 2021

Key financial metrics take a downturn on Q-o-Q as Consolidated Hallmark Insurance projects PBT of N336.6 million for Q1 2021.

 Consolidated Hallmark Insurance Plc has projected a Profit Before Tax (PBT) of N336.6 million for the first quarter of 2021, indicating a 50% decline from that of 2020 Q3

This is according to the firm’s earning forecast sent to the Nigerian Stock Exchange market

Key highlight of the firm’s earnings forecast

  • Profit After Tax is projected to decline to N282.7 million,-38% Q-o-Q.
  • Gross premium written is expected to decline to N3.85 billion,-49.1% Q-o-Q.
  • Net premium income is projected to fall to N2.39 billion,-47.1% Q-o-Q.
  • Net claims incurred is projected to decline to N954.5 million, -46.5% Q-o-Q
  • Investment income is set to decline to N281.1 million,-57.4% Q-o-Q.
  • Underwriting and management expenses Is set to decline to N742.94 million, -51.6% Q-o-Q

Others are:

  • Net operating income is projected at N1.71 billion
  • Taxation is projected at N53.85 million
  • Cash from operating activities is projected at N164.93 million.

Bottom line: The earnings forecast for the firm looks conservative as key financial metrics take a down turn Quarter-on- Quarter. This might be probably due to the ravaging long term effects of the pandemic, which some analysts expects to spiral forward.

With the announcement of a general economic recovery in Q1 2021, the impact of this recovery might not be as instantaneous as some people expect, due to time lag effect, probably influencing the choice of a conservative outlook.

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More