Earnings were boosted by gains on fair value adjustment of investment properties of $185,5 billion compared $15,9 million, a measure that saw the latter overtaking operating profit in contribution total net income.
There was a net finance income of $8,8 billion from $30,7million leading to a profit before tax of $277,1 billion from$951 million and attributable earnings of $209,8 billion from $650million, a growth of 32 000% over comparative year.
However if we are to strip out the fair value gains, we get a profit after tax of $97b, a scenario that does not bode well for NTS.
Basic earnings per share were $838,73 from $2,64 while diluted Earnings Per Share were $830,61 fro, $2,56.
Given the challenging economic environment obtaining the board decided to pass dividend.
The balance sheet improved to $335, 6 billion from $1,53 billion with investments and investment property constituting 61% of the asset base.Post published in: Economy