Geregu Power Targets N11bn as Profit for Q4

Geregu Power Targets N11bn as Profit for Q4

Geregu Power Plc has a target to achieve N11 billion post tax profit in the fourth quarter of 2024, according to its regulatory filing submitted on the Nigerian Exchange (NGX) platform on Monday.

The power generating company told the Nigerian Exchange that it expects revenue to reach N61.46 billion between Oct and December 2024.  Management forecasted more than N6 billion as impairment loss on the company’s financial assets in the period.

Its operating profit is expected to print at N17.17 billion amidst rising borrowings. Due to higher interest payments, Geregu Power estimated that the company’s net finance costs would settled at N350 million.

Profit after tax is expected to reach N16.825 billion, according to its regulatory filing on the Nigerian Exchange. Despite its positive expectation, Geregu Plc remained flat at N1000 per share in the equities market due to thin trading.

This kept its market value at N2.5 trillion and has not changed in months. Geregu Power Targets N11bn as Profit for Q4