Geregu Power Plc doubles profits in first 9 months of 2024 amid share price surge.
Geregu Power Plc doubles profits in first 9 months of 2024 amid share price surge.
Geregu Power Plc, Nigeria’s first listed power generation company, has released its 2024 nine-month results, showing that pre-tax profits doubled to N36.2 billion.
This compares to the N18.1 billion in pre-tax profits reported in the corresponding period of 2023.
When annualized, Geregu Power’s pre-tax profits are around N32.1 billion, suggesting the company’s profit before tax is growing at a compounded annual growth rate (CAGR) of 23%.
In addition to strong earnings growth, Geregu Power’s share price has surged by an impressive 188% year-to-date, reflecting positive investor sentiment and confidence in the company’s growth potential.
Key highlights 9 Months
Revenue: N112.5 billion, +102%
Gross Profit: N54.6 billion, +89.2%
Operating Profit: N37 billion, +80.1%
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