Mike 'Uzor

    Diamond Bank: Rising credit losses hurt profit capacity

Diamond Bank: Rising credit losses hurt profit capacity

Diamond Bank may report a drop in profit for the second year in 2015, as rising credit losses are claiming a significantly increasing share of gross earnings. With slowly growing revenue and rising impairment charges, the bank’s profit capacity has continued to weaken. At the end of the third quarter, net profit dropped by close to 21% against a moderate [...]

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    FBN Holdings may post lowest profit in four years

FBN Holdings may post lowest profit in four years

FBN Holdings is growing revenue and losing profit and the profit weakness may result in the lowest profit figure for the bank in four years. The bank retains its leadership in the banking industry by revenue and is expected to close the 2015 trading with well over half a trillion naira in gross income. However it will have to wrestle [...]

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    Nigeria’s monetary policy dilemma

Nigeria’s monetary policy dilemma

Monetary policy remains a dilemma here between the needs for low interest rates stimulatory to the economy and high interest rates to attract foreign portfolio investments. The Central Bank clearly lacks the policy-making masterstroke that takes care of the two key desirable objectives. All the bank has been doing even now is moving a little to the right and a [...]

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    7-Up weighed down by debt, slow sales

7-Up weighed down by debt, slow sales

Seven Up Bottling Company has experienced high growth in earnings and consistent gains in market share until last year when both revenue and profit sowed down. This year, the soft drinks company is still losing the growth momentum and the slowdown in profit last year may extend to a drop this year. The company resorted to huge borrowings since last [...]

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    Oando: Parade of losses against promised big profit

Oando: Parade of losses against promised big profit

Oando gave investors a promise to close the 2014 operations with robust financials. This was after the management succeeded in increasing the company’s scale of upstream operations with the acquisition of the $1.5 billion ConocoPhilips’ Nigerian business. The deal is reckoned to have expanded Oando’s portfolio in the energy and power space significantly.Despite that rising interest and administrative expenses eroded [...]

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    Nestle Nigeria: Rising costs keep profit flat

Nestle Nigeria: Rising costs keep profit flat

Nestle Nigeria faces the challenge of rising operating costs against inability to grow sales volume. The situation has hindered profit growth so far this year. Last year, the food and beverages company managed to register an increase of 7.7% in turnover but profit declined slightly during the year. The challenges of pushing sales facing the company have rather increased this [...]

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    Flour Mills Nigeria: Windfall hides operating pressure

Flour Mills Nigeria: Windfall hides operating pressure

Flour Mills Nigeria can easily be counted among the very few companies driving an exceptional earnings growth in the current financial year. At the end of its second quarter operations in September, the company recorded an upsurge of 450% in after tax profit year-on-year. An after tax profit of N24.02 billion it posted for half year trading is almost three [...]

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    Another strong year for Presco

Another strong year for Presco

Presco Plc, the oil palm producing company, has maintained a strong earnings growth on which it started the current financial year. The company is keeping revenue growing and also stretching out profit margin. This has lifted profit margin and set profit on the path of another strong growth this year. At the end of the third quarter, after tax profit [...]

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    Unity Bank: From high growth to a slowdown

Unity Bank: From high growth to a slowdown

Unity Bank achieved one of the highest profit advances in the banking sector in 2014 but is experiencing a sharp slowdown so far in 2015. The full year outlook indicates a likely drop in gross earnings and a moderate improvement in profit against a rise of 147% in after tax profit   in 2014.Actual earnings outcomes are however subject to the [...]

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    Africa Prudential maintains strong earnings growth

Africa Prudential maintains strong earnings growth

Africa Prudential Registrars is likely to achieve another strong growth in profit this year. The share registration company had already exceeded its 2014 full year profit figure by the end of third quarter. A stable growth in revenue and a big gain in profit margin are the underlying strengths for the strong profit growth this year. The company grew after [...]

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    Can Transcorp achieve a profit rebound at full year?

Can Transcorp achieve a profit rebound at full year?

Transnational Corporation of Nigeria is showing a pattern of profit rise and fall that leaves its earnings outlook uncertain. Over the past five years, the company has recorded alternating rise and fall in profit performance, quite unexpected of a conglomerate. Will the company rise this year after the fall of last year is the big question mark on Transcorp in [...]

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    Berger Paints heads for big profit recovery

Berger Paints heads for big profit recovery

Berger Paints closed last year with the lowest profit in five years. This year, the paint manufacturing company looks very likely to post the biggest profit since 2011. The company has not been able to maintain a stable record of earnings performance. Over the past five years, profit has fallen three times and grew only once. This year is one [...]

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    Forte Oil may lead profit growth in petroleum group

Forte Oil may lead profit growth in petroleum group

Forte Oil may recover the profit growth momentum it lost last year and register the only strong profit advance in the petroleum marketing sector in 2015.  Last year, the company registered a strong growth in sales revenue but lost profit. This year, the reverse is likely to be the case. Sales revenue is headed for a three-year low but profit [...]

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    Vitafoam: Losing profit on flat revenue

Vitafoam: Losing profit on flat revenue

Vitafoam Nigeria’s third quarter report shows a drop of 27% in after tax profit year-on-year to N335 million, as revenue failed to grow and costs grew ahead on incomes. The foam and furniture manufacturing company stepped up profit last year after two years of decline but looks likely to resume the downward steps this year. Sales revenue was flat at [...]

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    Conoil: Profit heads for second year drop

Conoil: Profit heads for second year drop

Conoil’s revenue and profit records have followed a pattern of rise and fall in the past five years but this year the pattern is likely to change to one of fall and fall. Fiscal 2014 was a down year for the company when sales revenue dropped to the lowest level in four years and profit fell to less than one-third [...]

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    Forte Oil: Will profit fall for the second year?

Forte Oil: Will profit fall for the second year?

Forte Oil lost its two-year recovery momentum in 2014 and profit dropped despite a strong growth in sales revenue. This year, sales revenue is headed for a significant drop based on the second quarter performance. Will the company be able to sustain the profit growth rate seen in the second quarter or will profit drop with revenue are the big [...]

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Exchange Rates

May 23, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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