Leading companies outperform economy growth rate

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Our land soaked in blood, gloom, South-East Bishops wail
Our land soaked in blood, gloom, South-East Bishops wail

•As earnings grow 13.6%, profit  32.7%

•It is inflation aided – Analysts

By Peter Egwuatu

Leading companies in Nigeria have reported sharp increases in income and profits, outperforming the recently released positive figures in Gross Domestic Product, GDP, and inflation.

Financial statements of the 97companies covering first nine months of this year, Q3’21, filed at the Nigerian Exchange Limited, NGX, shows that combined gross earnings grew by 13.6 per cent to N7.3 trillion from N6.4 trillion in the corresponding period Q3’20.

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This indicates faster growth rate compared to the Year-on-Year, YoY, economy (GDP) growth rate of 4.03 per cent reported by the National Bureau of Statistics, NBS, for the third quarter of 2021.

More significantly, the companies’ profit recorded sharp increase as Profit Before Tax, PBT, in Q3’21 jumped by 30.8 per cent to N1.7…



Source: Vanguard Newspaper

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