In early 2026, Africa Prudential Plc relied on interest income and delivered steady earnings growth.
The company reported pre-tax profit of ₦782.3 million, rising from ₦705.6 million last year.
Meanwhile, it disclosed this result in its latest filing on the Nigerian Exchange.
Interest Income Drives Growth
Interest income climbed to ₦1.34 billion, marking a 19.65% year-on-year increase.
Notably, short-term deposits contributed ₦1.29 billion and accounted for 96% of total interest income.
Loans and advances generated ₦35.6 million, while bonds added ₦16.6 million during the period.
At the same time, the company grew revenue from customer contracts by 25.27% to ₦146.1 million.
Costs Temper Earnings Gains
After it deducted direct costs of ₦13.9 million, gross profit reached ₦132.1 million.
However, other income fell to ₦41.3 million, while rental income contributed ₦19 million.
Overall, the company increased total operating income to ₦1.5 billion from ₦1.3 billion last year.
Read Also: NRS Clarifies Tax Rumours, Cautions Nigerians On Fake Portal
Even so, rising costs reduced part of the gains from strong operating income growth.
Personnel expenses rose to ₦370.7 million, while other operating expenses increased to ₦318.1 million.
As a result, the company recorded operating profit of ₦782.3 million with no finance costs.
After it paid a tax charge of ₦266 million, profit after tax reached ₦516.4 million.
Balance Sheet Expands Steadily
On the balance sheet, total assets grew slightly to ₦42.7 billion, driven by debt instruments.
Debt instruments stood at ₦33.04 billion and formed the largest share of total assets.
Meanwhile, customer deposits stood at ₦25.7 billion, while retained earnings rose to ₦8.7 billion.
In the market, shares traded at ₦13.70 and declined 7.43% year to date.
