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FCMB Group Limited, a tier-2 Nigerian lender has reported lower Earnings Per Share (EPS) in the First Quarter of 2025, despite higher profit
FCMB reported EPS of N3.25 in the First Quarter of 2025, down 44% from N5.81 in Q1, 2024.
The lower EPS was due to a higher weighted average number of ordinary shares in issue of 39.6 billion in the period, compared to 19.8 billion as at March 2024.
Profit attributable to equity shareholders was N32.1 billion in Q1, 2025 up 11.8%, compared to Q1, 2024.
FCMB higher share count was due to a recent public offer.
The total amount raised by FCMB and verified by the regulatory authorities is N147,508,464,568.60 and ₦144,559,788,701.30 was absorbed through the issuance of 19,802,710,781 ordinary shares at ₦7.30 per share bringing total post-offer issued shares to 39,605,421,562 shares.
FCMB has a market capitaisation of N350 billion and shares closed trading at N8.85 on Tuesday.
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