Africa Prudential’s annual profit falls to N1.45bn

Africa Prudential Plc, a share registration service provider, has posted a profit after tax of N1.45 billion for the 2020 financial year, down from N1.68 billion a year ago.

Its profit before income tax expense fell by 12 percent year-on-year to N1.98 billion from N2.39 billion, according to its audited financial statements.

The company’s revenue declined to N1.06 billion last year from N1.50 billion in 2019.

“The directors recommend to the shareholders the payment of a gross dividend of N1 billion, that is 50 kobo per share payable to shareholders on the company’s Register of Members as at March 5, 2021. The dividend is subject to the deduction of appropriate withholding tax,” it said.