Saturday, September 22, 2018

Mike 'Uzor

    PZ Cussons: Profit may drop on flat revenue

PZ Cussons: Profit may drop on flat revenue

PZ Cussons is unable to grow sales revenue for the fourth year running and that can be expected to register adversely on profit performance in the 2015 financial year ending May. Sales revenue has stagnated at a little above N70 billion since 2012 and the current year’s performance so far is indicating that revenue growth might be marginal still.A flat [...]

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    Nigeria’s difficult corporate earnings environment

Nigeria’s difficult corporate earnings environment

The election-induced economic slowdown has created fresh difficulties for both producers and consumers alike, which are presently undermining the corporate earnings environment in 2015. The multiplier effects of low income and consumption capacity can be expected to hurt sales revenues of companies across various sectors and industries.The ability to consume what our industries and businesses are rolling out has dropped [...]

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    Presco gains margin, grows profit on flat revenue

Presco gains margin, grows profit on flat revenue

Presco Plc, the oil palm producing company, has made a good first quarter start by reducing cost and improving profit margin. Despite that sales revenue was flat during the period, the company lifted after tax profit by 37% - one of the impressive earnings growth records seen so far this year.The company appears to be on the way to repeating [...]

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    Total Nigeria: Operating pressure hits profit

Total Nigeria: Operating pressure hits profit

Total Nigeria, the petroleum marketing major, finished first quarter trading with nearly 80% drop in net profit. This isn’t the result of any one-off event on the accounts but a reflection of operating pressure on both sides of revenue performance and operating cost behaviour. There is no indication therefore that the adverse cost-income relationship would change in the course of [...]

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    Top rising stocks 2015: Why they stand out

Top rising stocks 2015: Why they stand out

Despite the dramatic recovery in the month of April, the stock market closed the month flat against its opening level this year. A few stocks are beating the general market on share price performance but the index-leading equities are missing on the share price advances table. The all-share index moved up a clear 3,617.3 or 11.6% in April, a recovery [...]

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    Stanbic IBTC Holdings: Maintaining high growth

Stanbic IBTC Holdings: Maintaining high growth

Stanbic IBTC Holdings achieved one of the strongest profit advances in the banking industry in 2014. The bank, which also led profit growth in the industry in the preceding year, has maintained an outstanding profit growth for the past three years running.The bank’s strength in profit performance is coming from both revenue improvements and cost saving success. Over the past [...]

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    ANALYSIS: Interest rate cut will help economy

ANALYSIS: Interest rate cut will help economy

How to rev up the Nigerian economy and stabilise financial markets will be the main concern of policymakers and operators after the election-induced downsizing and outright shutdowns of many economic activities. Options are limited by the absence of sufficient fiscal space and a monetary policy solution, specifically a cut in interest rate, appears to be the consensus. The role of [...]

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    Diamond Bank: Credit losses persist, undermine profit growth

Diamond Bank: Credit losses persist, undermine profit growth

Diamond Bank continues to experience huge credit losses in the current financial year and this is undermining profit performance. Net profit dropped by over 15% in the first quarter against a moderate improvement in gross earnings. Rising provisions for risk asset losses accounted mainly for the profit drop, claiming 16% of interest income compared to 13% in the same period [...]

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    Union Bank lifts profit with cut down on loan losses

Union Bank lifts profit with cut down on loan losses

Union Bank lifted after tax profit by almost 600% in 2014 to N26.82 billion, one of the biggest advances in earnings in the banking sector in the year. The high profit growth is accounted for largely by a cut down in loan loss provisions by as much as 60%. An outstanding growth of about 134% in other operating income also [...]

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    Forte Oil: Profit declines on second half slowdown

Forte Oil: Profit declines on second half slowdown

Forte Oil closed the 2014 financial year with a net profit of N4.45 billion of which N3.13 billion was earned in the first half of the year. The earnings growth rate in the first half would have taken the company’s profit record to a new peak. With the loss of momentum in the second half however, the company lost profit [...]

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    Equities market looking for direction

Equities market looking for direction

The equities market is presently looking for direction that isn’t likely to be found soon. Nothing new is anticipated from the government that is marking time toward leaving office in six weeks time. Neither can significant changes be expected yet from the in-coming administration that could take months to settle down.Operating difficulties can be expected to continue to constrain corporate [...]

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    Seplat Petroleum: Profit drops with revenue, cost increases

Seplat Petroleum: Profit drops with revenue, cost increases

Seplat Petroleum Development Company lost more than one-half of its preceding year’s net profit at the end of 2014. Some major developments in the year undermined the profit capacity of the petroleum drilling and exporting company during the year. It suffered a decline in sales revenue due to the fall in crude oil prices in the international market. General and [...]

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    Unilever’s profit drops to six-year low

Unilever’s profit drops to six-year low

Unilever Nigeria has reported a drop in profit by nearly one-half in its 2014 financial year. The consumer goods company’s after tax profit went down for the second year to the lowest figure in six years. The loss of over N4.2 billion in sales revenue accounted for much of the profit drop. A major increase in interest expenses is the [...]

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    Stock market breaks out on no-violence surprise

Stock market breaks out on no-violence surprise

Equities investors and traders rushed out of their hiding last week on President Goodluck Jonathan’s surprise move to concede defeat in a much feared presidential election. The stock market had lost trillions of naira in market capitalization due to flight capital seeking safety from the Nigerian economy expected to plunge into turmoil through an unprecedented electoral violence.The President’s unexpected move [...]

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    Q2 outlook: Expect share prices to stay down

Q2 outlook: Expect share prices to stay down

The demand and supply conditions of the equities market are expected to continue to reflect the financial markets disquiet that set foreign portfolio traders on the run since last year. The second quarter appears to be a period of caution and lukewarm when traders and investors will seek to establish where Nigeria’s post election economy will be headed. Signals for [...]

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    Unity Bank makes big turnaround, yet major hurdles remain

Unity Bank makes big turnaround, yet major hurdles remain

Unity Bank has an impressive earnings report for its 2014 operations, apparently one of the most improved earnings records in the Nigerian banking industry in the year. Improved revenue lines, major reductions in costs and a return to profit are the summary of the bank’s operations in 2014.The bank’s new managing director/CEO, Henry James Semenitari, gets the credit for [...]

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Exchange Rates

September 21, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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