QWI Reports Significant Improvement in Bottom-line

• For the first quarter ending December 2020, QWI Investments Limited reported an unaudited net profit of $91.74Mn (EPS: $0.07), which is a significant improvement when compared to the net loss of $94.48Mn reported in Q1 FY 2019/20.
• During the quarter, the company took advantage of the favorable conditions in the USA and realized gains of $34.5Mn. This combined with unrealized gains of $33Mn and $64Mn from the US and local portfolios, respectively, contributed to an investment income of $132.43Mn, which was $225.03Mn above the investment loss of $92.60Mn recorded last year.
• QWI’s Q1 FY 2020/21 net asset value per share has increased by 6.5% relative to Q4 2019/2020 but fell 11.5% to $1.15 year over year. This decline was largely due to a $375.56Mn (22.5%) drop in the amount of quoted investments held locally.
• QWI’s stock price has increased by 23.7% since the start of 2021 and closed Monday’s trading session at $0.94. At this price, the stock trades at a P/B of 0.8x, which is below the Main Market Financial sector average of 1.6x.

(Source: QWI Financials)