Wednesday, November 14, 2018

Mike 'Uzor

    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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    [REVIEW] Outlook for banking stocks

[REVIEW] Outlook for banking stocks

Earnings reports and performance of banks for the 2014 financial year continue to reflect the difficult conditions in which banks traded. The concluding part of the review continues to show a general slowdown in revenue and dependence on cost saving to defend profit.Sterling Bank Plc needs a strong growth in profit in 2014 in order to improve earnings and dividend [...]

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    Lafarge Africa: Profit drops on loss of other income

Lafarge Africa: Profit drops on loss of other income

The consolidated operations of Lafarge Africa Plc for the 2014 full year show a flat growth in sales revenue and a drop in profit. The company, which has just concluded the consolidation process in the acquisition of majority shares in Ashakacem, closed last year’s operations with a marginal decline in sales revenue and a 43% drop in net profit. The [...]

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    Outlook for banking stocks

Outlook for banking stocks

Earnings reports for the operations in 2014 have begun to reach the market and performance generally can be expected to reflect the difficult conditions in which banks traded last year. The reports yet to be released are expected to follow the same pattern of slow growth in both revenue and profit, which is the summary of reports issued so far.Revenue [...]

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    NNFM sustaining recovery despite profit slowdown

NNFM sustaining recovery despite profit slowdown

Northern Nigeria Flour Mills (NNFM) has lost its initial high profit growth momentum, as triple digit rise in profit in the first quarter has given way for a decline in the third. The flour milling company may still sustain its gradual profit recovery in the current financial year ending March 2015.The company has strengthened revenue growth and operating expenses are [...]

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    Can recovery in equities be sustained?

Can recovery in equities be sustained?

Leading stocks have made further shifts to the side of price advances while others have at least stopped the downward trend. This can be read as a reasonable signal for a rebound though not sufficient to conclude that the bull is back. The good news for the market is that oil market is coming out of its miserable outlook and [...]

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Exchange Rates

November 13, 2018USDGBPEUR
INTERBANK306397354
LAGOS359475418
KANO359476420
PH360476420
ABUJA359478419
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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