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    Infinity Trust Mortgage Bank posts 26% half year profit decline

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    Joseph Afamhttps://naija247news.com
    Joseph Afam (Local Contents and Partnership Editor) (070 3949 0464) Joseph Afam is a energy and finance journalist, who has years of experience in journalism, he started his journalism career in Nigeria’s top financial newspaper in Lagos. He’s a graduate of Economics and Finance from University of Ebonyi State, Nigeria He has won series of awards and regconitions Contact him for any editorial deals and advertorial issues on # Joseph.Afam@naija247news.com, editor@naija247news.com, Cell: 070 3949 0464

    Infinity Trust Mortgage Bank has posted a 26 percent decline in profit after tax of N100 million for the Half year (HY) ended June 30, 2017.

    Turnover marginally grew by 1 percent to N406 million from N401 million achieved in HY 2016, while profit before tax (PBT) declined to N111.3 million against N151.3 million achieved last year.

    In its financial statements released at the Nigerian Stock Exchange, the company’s total equity stood at N5.630 billion as at June 30, 2017 in contrast to N5.697 billion in the corresponding period of 2016.

    Infinity Trust Mortgage Bank Plc is a company headquartered in Abuja with Market Cap of N6.0 billion and N4.2 billion outstanding shares.

    The shares closed flat at N1.44 per share on Tuesday

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