GTCO declares 217.09% increase in PBT to N327.40bn
Guaranty Trust Holding Company Plc (GTCO) on Friday announced N327.40billion in audited half year ended June 30, 2023, an increase of 2217.09 per cent from N103.25billion reported in prior half year ended June 30, 2022.
The lender on the Nigerian Exchange Limited (NGX) also announced N280.48billion profit after tax in H1 2023, an increase of 261.63 per cent from N77.56billion reported in H1 2022.
The increase in profits was driven by N672.60billion gross earnings in H1 2023, an increase of 239.29 per cent from N239.29billion in H1 2022.
With the significant increase in profits, the management of GTCO declared N0.50 per share interim dividend in H1 2023 as against N0.30 per share declared in H1 2022.
However, dividend yield dropped to 1.32 per cent in H1 2023 from 1.51 per cent in H1 2022 and it is coming on the backdrop of N38 stock price as of September 1, 2023.
Financial statement of GTCO showed N8.51trillion total assets as of June 30, 2023, an increase of 49.66 per cent from N5.69trillion reported in 2022 financial year and it is driven by N7.31trillion total liabilities as of June 30, 2023 from N4.84trillion reported in 2022 financial year.
