Profit ratio

Purple Real Estate Group publishes its unaudited results for the first quarter ended March 31, 2022

Purple Real Estate Institute Limited (“Purple Group” or “Purple” or “Preil”) announced its results not audited for the first quarter enclosed on March 31, 2022.

Consolidated income statement

  • Total turnover of 1.9 billion nairas, up 530.7 % from one year to the next (T1 2021: 302.6 million nairas)
  • Cost of sales of 1.1 billion naira (Q1 2021: 19.2 million)
  • Gross profit of N773.9m, up 173.1% year-on-year (Q1 2021: N283.4m)
  • Other income increased by 9.0% to N43.9m YoY (Q1 2021: N40.3m)
  • Administrative expenses increased by 31.4% to N302.9m YoY (Q1 2021: N230.5m)
  • Operating profit of N505.0m, up 486.9% year-on-year (Q1 2021: N86.0m)
  • Profit before tax of N342.6 million (Q1 2021: -94.9 million naira)

Consolidated state of the financial situation

  • Total assets of N33.8 billion, up 98% year-on-year (Q1 2021: N17.0 billion)
  • Total liabilities of N24.5 billion, up 171.8% year-on-year (Q1 2021: N10.3 billion)
  • N9.4 billion naira shareholders fund (Q1 2021: N6.6 billion)
  • 2022 interim dividend of N185.5 million at 6 kobo per share (2021 interim dividend of N142.3 million at 22 kobo per share)

Main ratios

  • 40.5 % gross beneficiary margin (T1 2021: 93.7 %)
  • Cost/income ratio of 75.8% (Q1 2021: 84.9%)
  • Operating profit margin of 26.5% (Q1 2021: 28.4%)
  • EBITDA margin of 27.0 % (T1 2021: 30.8 %)
  • Profit before tax margin of 17.9% (Q1 2021: 31.3%)
  • 44.8 % lever ratio (T1 2021: 52.6 %)