Royal Exchange Plc plans to source for N2.058bn via Rights Issue

Adebayo Obajemu

Royal Exchange Plc recently published its Audited Financial Statements for the year ended 31 December 2021.

The report shows year-on-year decline in the company’s top line and bottom line figures.

A turnover of N2.843 billion was reported for the 12 months period, down by 81.41% from N15.293 billion reported in Full Year 2020.

A loss after tax of N554.789 million was reported by the Company for the period under review. This translates to a decline of 619.42% when compared to the loss after tax of N77 million declared in 2020 year end.

Earnings per share of the company for the period under review stands at -11 kobo, down by 34.78% from -8 bobo EPS declared the previous year.

At the share price of N1.02, the P/E ratio of Royal Exchange Plc stands at -9.46x with earnings yield of -10.57%.

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