Consolidated Hallmark Holdings Plc Projects a gross revenue of ₦20.77bn in Third Quarter Earnings for 2024

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Consolidated Hallmark Holdings Plc (RC 1901273) has announced its third-quarter earnings forecast for the period ending September 30, 2024. The company, which began operations on January 1, 2024, is projecting robust financial performance across several key metrics.

Financial Highlights:

  • Gross Revenue: Consolidated Hallmark Holdings anticipates generating a gross revenue of ₦20.77 billion for Q3 2024.
  • Operating Expenses: The company’s operating expenses are projected to total ₦15.21 billion.
  • Net Fair Value Gain: A net fair value gain of ₦2.19 billion is expected.
  • Net Realized Gains: The forecast includes net realized gains of ₦300.61 million.
  • Management Expenses: Management expenses are estimated at ₦2.17 billion.
  • Finance Costs: Finance costs are projected to be ₦358.29 million.
  • Total Net Expenses: The total net expenses are forecasted at ₦15.24 billion.
  • Profit Before Tax: Profit before tax is projected to be ₦5.54 billion.
  • Tax Provision: A tax provision of ₦1.88 billion is included in the forecast.
  • Profit After Tax: The company expects to achieve a profit after tax of ₦3.65 billion, fully attributable to the owners of the parent company.

Income Statement Forecast:

  • Gross Operating Income: Consolidated Hallmark Holdings anticipates gross operating income of ₦17.69 billion for the Q3 period ended September 30, 2024.

Cash Flow Statement Forecast:

  • Net Cash from Operations: The company expects net cash from operations to be ₦7.62 billion.
  • Commission Received: Forecasted commission received amounts to ₦1.06 billion.
  • Commission Paid: The company projects commission paid to be ₦3.24 billion.
  • Cash Paid to Employees: Payments to employees are expected to total ₦2.17 billion.
  • Other Operating Cash Payments: These are projected at ₦1.66 billion.
  • Income Tax Paid: The forecast includes income tax payments of ₦946.52 million.
  • Net Cash Provided by Operating Activities: The company expects net cash provided by operating activities to be ₦669.11 million.

Investing Activities:

  • Purchase of Property, Plant & Equipment: This is projected at ₦110.62 million.
  • Disposal/Acquisition of Investments: The company anticipates a net gain of ₦4.04 billion from disposal/acquisition of investments.
  • Investment Income Received: Investment income is forecasted at ₦1.23 billion.
  • Other Income Received: Other income is expected to be ₦621.64 million.
  • Net Cash Provided by Investing Activities: The net cash from investing activities is projected to be ₦5.79 billion.

Financing Activities:

  • Interest Payment: No interest payments are projected for this period.
  • Dividend Payment: There is a projected dividend payment of ₦1.08 billion.
  • Net Cash Provided by Financing Activities: The net cash provided by financing activities is projected at ₦1.08 billion.

Cash and Cash Equivalents:

  • Beginning Balance: Cash and cash equivalents at the beginning of the period are forecasted at ₦2.99 billion.
  • Ending Balance: The company expects to end the period with cash and cash equivalents totaling ₦8.36 billion.

The forecast, certified by Group Chief Financial Officer Babatunde Daramola and Group Chief Executive Officer Eddie Efekoha, underscores Consolidated Hallmark Holdings Plc’s commitment to strong financial management and operational efficiency as it navigates its inaugural year of operations.

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