Enterprise Group of Ghana Rises Most in Two Weeks on Profit Hope

Enterprise Group Ltd., an insurer in Ghana, rose the most in two weeks on analysts’ estimates that profit more than tripled last year.

The stock gained 2 pesewas, or 4.2 percent, to 50 pesewas by the 3 p.m. close in the capital, Accra. That’s the biggest gain since Jan 25.

“Enterprise made a profit of 6.5 million cedis ($4.3 million) in the first three quarters of last year which when annualized is in excess of 8 million cedis,” said Enyonam Dagadu, a stock broker with African Alliance Securities Ghana Ltd., in a phone interview today. “This compares with 2.2 million cedis profit in 2009,” she added. The company is expected to release its results soon, Dagadu said.

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net.

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