Believability index shows ACCESS likely to deliver 348% of Q2 PAT forecasts
Category: Corporate Earnings
Access Bank Plc presented its Q2 earnings forecast for the period ended June 30th 2012 to the market today.
Proshare has reviewed the forecast against its believability index, relying on previous performances against forecast; to confirm the following:
1.That Access Bank Plc has a 348% chance of achieving or exceeding its PAT forecastand a 279%chance of delivering on its Gross Earnings projectionsfor the period in view.
The impressive PAT of N12.81billion declared against N2.99billion forecast in Q3’11 and N16.70billion declared against N2.77billion forecast in Q4’11 impacted this considerably.
2.This weights fall within the 'most believable' forecast range for quoted companies in the sector.