By Ify Onye InvestAdvocate

Lagos (INVESTADVOCATE)-Abbey Building Society Plc (Abbey) Monday reported drop of 31.54 percent (31.54%) its Profit After Tax (PAT) in its Third Quarter Report for the period ended September 30 2011.

This was contained in the Result Announcement from the Company to the Nigerian Stock Exchange (NSE) in Lagos Nigeria and made available to www.investadvocateng.com.

To record the Loss, Abbey reported  that its PAT for the review period was N203.855 million compared to a Profit of N297.805 million it recorded in the Q3 of 2010; showing a  of 168.5 percent 31.54% in the review period.

While Profit Before Tax (PBT) dipped by 31.54% in the Third Quarter of year 2011, the Company recorded N254.818 million compared to N372.256 million in the corresponding period of year 2010.

Gross Earnings of Abbey in the review period was N1.140 billion in Q3 of year 2011 compared to N1.135 billion in year 2010; showing a slight difference of 0.4%.