Adebayo Obajemu

Ikeja Hotel recently published its first quarter report for the three months ended 31, March 2020 on the website of the Nigerian Stock Exchange.

The report shows growth in top line and bottom line figures of the hospitality firm.

The firm reported a turnover of N2.88 billion, up by 5.32 percent when compared to N2.73 billion turnover reported in the first quarter of 2019.

Profit before tax soared by 100.12 percent to N375 million from N187 million reported in Q1 2019.

Profit after tax jumped by 94.07 percent to N252.54 million from N130.13 million reported in Q1 2019.

For the period under review, the earnings per share (EPS) of the firm stands at 12 kobo, up by 94.07 percent, when compared to the EPS of 6 kobo reported in Q1 2019.

With reference to the share price of N1.07, the P.E ratio of Ikeja Hotel is calculated as 8.92x with earnings yield of 11.21%