Stock market sets new milestone as investors gain over N5tr in four months

said fantastic first quarter ( Q1), 2022 financial results across sectors: consumer goods, agro allied, food and beverages, telecommunication, healthcare, industrial goods, energy and banking beat market expectations.

According to him, high inflation made companies under these sectors to increase prices, which they have successfully passed on to final consumers without increasing cost.

A look at the full year 2021 and Q1 2022 result of some listed firms showed that Fidelity Bank’s Profit Before Tax ( PBT) increased by 35.7 per cent from N28.05 billion in the 2020 financial year to N38.07 billion in the review period. Deposits also grew by 19.2 per cent to close at N2.02 trillion.

Also, Unity Bank’s audited result for the period ended December 31, 2021 showed a

PBT of N3.33 billion, indicating a 49.9 per cent increase over N2.22 billion posted in 2020.

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