By InvestAdvocate

Lagos (INVESTADVOCATE)-Courteville Business Solutions Plc operating in the Commercial Service Sector of the Nigerian Stock Exchange (NSE) Wednesday made a forecast of N89.695 million Profit After Tax (PAT) in its Third Quarter (Q3) Result for the Period Ended September 30 2012.

From Earnings Forecast, Profit Before Tax (PBT) is expected to hit N106.780 million; while Total income has been projected to be N441.816 million.

Analyst at Proshare affirmed that it has reviewed the forecast against its believability index, relying on previous performances against forecast; to confirm the following:

That Courteville Business Solutions Plc has a 14 percent (14%) chance of achieving or exceeding its PAT forecast and a 15% chance of delivering on its Total Income projections for the period in view.

The Proshare Analyst say, this weights fall within the ‘most believable’ forecast range for quoted companies in the sector.

Earlier in the month, Courteville increased its Shareholders Fund by 17% in its First Quarter Highlights at the Company’s “Facts behind the Figure”

Bola Akindele said to record the growth, the Company’s Shareholders Fund grew from N2, 315, 845,200 in the First Quarter (Q1) of year 2011 to N2, 709,619, 502 in the same period of year 2012.

In the same vein, Retained Earnings grew from N340,567,888 in the Q1 of 2011 to N439,019,502 in the Q1 of 2012; indicating an increase of 29% in the highlight period.

Also, Profit Before Tax (PBT) is rose from N53, 863,332 in the First Quarter of year 2011 to N63, 340,971 in the projected period of 2012, showing a rise of 17.59%.

While Turnover increased from N170, 351,939 in the Q1 of 2011 compared to N233, 972,095 in the highlighted period of 2012, representing an increase in Turnover of 37.34%.

Akindele in his presentation has put expected dividend to investors of the Company to hit N177.6 million which translates to 6 Kobo per share dividend at the end of 2012 Financial Year End (FYE).