Mutual Benefits Assurance boosts turnover to N40.26bn,PAT rises by 66.1%

The Fourth Quarter report of Mutual Benefits Assurance Plc for the year ended 31 December 2023 shows growth in its top line and bottom line figures.

A turnover of N40.261 billion was reported for the 12 months period, up by 21.58% from N33.12 billion reported the previous year.

Profit after tax grew year on year by 66.1% to N5.218 billion from N3.141 billion reported the previous year.

The earnings per share of the Company stands at 26 kobo.

At the share price of N0.69, the P/E ratio of Mutual Benefits Assurance stands at 2.65x with earnings yield of 37.69%.