Saturday, January 5, 2019

Mike 'Uzor

    PZ Cussons loses profit for the second year on flat revenue

PZ Cussons loses profit for the second year on flat revenue

PZ Cussons lost profit for the second year at the end of its 2015 financial year ended May. Despite a step up in profit growth in the final quarter, the company’s profit decline at a wider margin than happened in 2014. Close to 40% of the company’s full year after tax profit of N4.57 billion was earned in the final [...]

0 comment Read Full Article
    Another sharp profit drop likely for GlaxoSmithKline

Another sharp profit drop likely for GlaxoSmithKline

GlaxoSmithKline Consumer Nigeria (GSK) is likely to record a more rapid drop in profit in 2015 than it reported in the preceding year. Revenue growth is flat for the healthcare company for the second year and despite some cost control treatment, symptoms of rising costs are still persisting. One major expenditure item is particularly resistant and that is administrative cost.Profit [...]

0 comment Read Full Article
    FCMB: Profit growth undermined by rising expenses

FCMB: Profit growth undermined by rising expenses

First City Monument Bank (FCMB) isn’t likely to repeat the strong profit growth it achieved last year in 2015 due to rapidly growing cost. In 2014, the bank lifted net profit by 38.3% to a new peak of N22.13 billion mainly because interest expenses declined slightly against the rising trend in the banking sector. This year, interest cost has joined [...]

0 comment Read Full Article
    Seplat Petroleum faces another year of falling profit

Seplat Petroleum faces another year of falling profit

Seplat Petroleum Development Company is likely to see its profit fall for a second year based on the performance reported at the end of the second quarter. Both revenue and profit dropped sharply at the end of June and the full year outlook shows that the company’s revenue and profit could drop faster than they did in 2014.   The petroleum [...]

0 comment Read Full Article
    FBN Holdings: Rising cost limits profit growth in Q2

FBN Holdings: Rising cost limits profit growth in Q2

FBN Holdings recorded two major cost increases in the second quarter that limited its profit growth during the quarter. The bank holding company raised gross earnings impressively by 28% year-on-year at the end of June but could not convert the increased earnings into profit. Two major expenses lines - impairment charges for loan losses and interest expenses claimed much of [...]

0 comment Read Full Article
    UACN: Profit outlook worsens on second quarter loss

UACN: Profit outlook worsens on second quarter loss

UACN has grown profit every year in the past five years but the company looks set to fall from its profit peak this year. The second quarter operations of the conglomerate ended in a loss, which has lowered its first quarter profit figure. The company was already headed for a profit drop even by its first quarter growth rate and [...]

0 comment Read Full Article
    Transcorp Hotel hopeful to grow profit despite Q2 drop

Transcorp Hotel hopeful to grow profit despite Q2 drop

Transcorp Hilton Hotel is feeling the pinch of the low scale on which business activity is running this year. It is losing both revenue and profit as per the interim results yet hopeful for a profit rebound at full year. The company looks likely to see a decline in turnover for the second year in 2015 but a gain in [...]

0 comment Read Full Article
    Flour Mills heads off a loss with sale of investment

Flour Mills heads off a loss with sale of investment

Flour Mills of Nigeria headed off a possible loss position in its 2015 financial year ended March with a profit from disposal of investment. Inability to grow sales revenue amid rising cost saw a drop of nearly one-half in operating profit. That plus a drop of over 54% in investment income and a rise of over 16% in interest expenses, [...]

1 comment Read Full Article
    Stock market: What to expect in the second half

Stock market: What to expect in the second half

The economy has been shaken by a number of operating disturbances this year that have equally left the equities market without a sense of direction. The market has been waiting for the electoral tension to cool off and for the new government to take quick steps to increase the business momentum. That patience is very likely to be undermined by [...]

0 comment Read Full Article
    Stanbic IBTC: Losing the earnings growth momentum

Stanbic IBTC: Losing the earnings growth momentum

Stanbic IBTC Bank has run a three-year growth marathon from 2012 to 2014 but the current financial year looks very much like one of cooling down the bank’s high growth engines. With a net profit of more than N32 billion at the end of 2014, the bank has accomplished one of the longest upward journeys in the banking sector in [...]

0 comment Read Full Article
    Seplat Petroleum: Earnings may drop for the second year

Seplat Petroleum: Earnings may drop for the second year

Seplat Petroleum Development Company is headed for drops in revenue and profit for the second year based on the first quarter performance. The petroleum drilling and exporting company is under pressure from the drop in crude oil prices as well as rising cost, resulting in rapidly falling profit.Though sales revenue grew by 12.5% year-on-year in the first quarter, the [...]

0 comment Read Full Article
    GTB: Rising credit losses hurting profit growth

GTB: Rising credit losses hurting profit growth

Guaranty Trust Bank faces one major challenge this year on earnings performance and that is an upsurge in credit losses that happened in the first quarter. This has raised the bank’s cost-income ratio, lowered profit margin and weakened the earnings growth momentum of the bank in the current year.At the end of the first quarter, provision for loan losses was [...]

0 comment Read Full Article
    Africa Prudential Registrars heads for another strong growth in earnings

Africa Prudential Registrars heads for another strong growth in earnings

Africa Prudential Registrars is on the way to another strong growth in profit this year. The share registration company doubled profit in its first quarter step, showing one of the most promising earnings prospects in 2015. A strong growth in revenue and a big gain in profit margin are the unbeaten earnings credentials the company is showing from its first [...]

0 comment Read Full Article
    Sterling Bank: Gain in profit margin raises full year outlook

Sterling Bank: Gain in profit margin raises full year outlook

Sterling Bank’s first quarter operations shows a new cost-income relationship that has stretched out profit margin, raising the prospects for an outstanding profit growth in 2015. Profit grew about two and half times as fast as revenue in the first quarter as a result of moderating cost behaviour. Yemi Adeola, the bank’s group managing director/chief executive officer, saved substantial costs [...]

0 comment Read Full Article
    Wema Bank: Earnings growth momentum slows down

Wema Bank: Earnings growth momentum slows down

Last year, Wema Bank scaled earnings growth positively to the level of being counted among the highest growth drivers in the banking sector. This year the high growth momentum seems to have weakened with the full year outlook indicating flat growth in both revenue and profit. The bank needs all the speed possible in growing profit for it to bring [...]

0 comment Read Full Article
    UACN: Losing revenue, losing profit

UACN: Losing revenue, losing profit

UACN is losing both sales revenue and profit in the current year and the full year outlook indicates the conglomerate may slip from its peak earnings figures attained in 2014. The company’s diversified operation has enabled it to maintain stable growth in sales revenue and profit over the past five years. That record however looks likely to be broken in [...]

0 comment Read Full Article
Advertisement
Advertisement

 

Advertisement

Advertisement

Exchange Rates

January 03, 2019USDGBPEUR
INTERBANK306397354
LAGOS361463411
KANO360465413
PH361462412
ABUJA362462413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
Advertisement
Advertisement
Advertisement