Friday, August 2, 2019

Mike 'Uzor

    Cadbury Nigeria: Back in the red

Cadbury Nigeria: Back in the red

Cadbury Nigeria engineered a new operating momentum in 2009 that led to its return to profit in 2010. The beverage manufacturing company’s new configuration has run out of steam again. A big profit slash happened last year and this year the company is back in the red.A new strength in revenue growth seen in 2010 and 2011, stagnated in the [...]

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    Dangote Cement may grow profit by over 40% at full year

Dangote Cement may grow profit by over 40% at full year

Dangote Cement Company is likely to raise profit to a new high at the end of 2015, making up for the drop it suffered last year. Profit may grow by over 40% if the current growth rate is maintained to full year. The cement manufacturing company has maintained strong growth in profit in recent years until last year when sales [...]

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    Conoil: Profit drops on loss of sales revenues

Conoil: Profit drops on loss of sales revenues

Conoil’s earnings records in 2014 continued on the rise and fall pattern the company has followed in the past five years. The oil marketing company’s result for last year, which was released last week, shows that it was a down year in the business. Sales revenue dropped to the lowest level in four years and that slashed profit well below [...]

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    TSA: The implications for banks and the economy

TSA: The implications for banks and the economy

The policy of treasury single account (TSA) has its merit of streamlining the process of remittance of revenue generated by various agencies and letting government know at a glance what it has in its account. This looks like a novel idea in an environment in which corruption is prevalent and every loophole for revenue leakages needs to be blocked. The [...]

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    Guinness Nigeria: Profit falls for the third year running

Guinness Nigeria: Profit falls for the third year running

Guinness Nigeria closed the 2015 financial year with a drop in profit for the third year running but a moderate gain in sales revenue. This is in line with our projection for the brewing company that has been under pressure from both sales and margins.  A recovery move in sales revenue after two years of declines represents a positive signal [...]

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    UBA may lift profit to a new high in 2015

UBA may lift profit to a new high in 2015

United Bank for Africa (UBA) hasn’t been able to rebuild profit after dropping from the peak record in 2012 but this year is quite promising for the bank. Revenue growth has been decelerating in the past two years but a renewed growth can be expected this year based on the second quarter interim report. Also the bank has lost profit [...]

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    Okomu Oil Palm may reverse sliding profit

Okomu Oil Palm may reverse sliding profit

The Okomu Oil Palm Company has seen three years of sustained profit run down but the oil palm and rubber producing company looks likely to reverse the downslide this year. Over the past three years, the company reported a steady drop from its peak profit figure of N10.52 billion in 2011 to N1.55 billion at the end of 2014.The company [...]

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    Can Julius Berger again speed up earnings in second half?

Can Julius Berger again speed up earnings in second half?

Julius Berger is unable to match its previous year’s revenue and profit numbers at the end of the second quarter but the construction company seems to have a good reserve for high earnings growth momentum in the second half. While earnings growth accelerated in the second quarter from the first quarter performance, the company still reported year-on-year decline in both [...]

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    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 [...]

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    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 [...]

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    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 [...]

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    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 [...]

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    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 [...]

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    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 [...]

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    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 [...]

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    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, [...]

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Exchange Rates

August 01, 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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