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    Geregu Power Targets N11bn as Profit for Q4

    Ogochukwu NdubuisiBy Updated:No Comments1 Min Read
    Geregu Power Targets N11bn as Profit for Q4
    Akin Akinfemiwa, Chief Executive Officer of Geregu Power Plc

    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

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    Ogochukwu Ndubuisi is an editorial content strategist and financial news writer at MarketForces Africa, covering a broad range of topics including Nigeria's equity markets, infrastructure development, energy, government policy, corporate finance, and digital economy.With over 2,400 published articles on MarketForces Africa, Ogochi brings depth and consistency to the publication's daily news coverage.Her reporting spans Nigerian Exchange Group market movements, Lagos State infrastructure projects, and federal government economic policies, oil and gas developments, and emerging sectors shaping Nigeria's economic landscape.She also covers Africa-wide stories, including East African market indices, continental investment trends, and cross-border economic developments.Ogochi works closely with MarketForces Africa's editorial and corporate communications teams to deliver accurate, timely, and well-researched content to the publication's professional readership.Ogochukwu Ndubuisi is based in Lagos, Nigeria.

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