Friday, September 21, 2018

Mike 'Uzor

    FCMB expected to sustain profit growth despite rising loan loss expenses

FCMB expected to sustain profit growth despite rising loan loss expenses

First City Monument Bank (FCMB) is expected to sustain growth in profit for the third year at the end of 2014 after returning to profitable operations in 2012. The bank succeeded in defending profit margin year-on-year at the end of the third quarter in September in spite of devoting an increased proportion   of revenue to loan loss expenses during the [...]

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    Berger Paints heads for lowest profit in years

Berger Paints heads for lowest profit in years

Berger Paints traded on low momentum for the three quarters of the year and the full year outlook indicates a sharp drop to the lowest profit in many years for the paint makers. A sharp slowdown in earnings in the third quarter has weakened the initial performance expectations of the company in 2014.  In place of a marginal improvement in [...]

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    CCNN: Expect outstanding profit growth

CCNN: Expect outstanding profit growth

Cement Company of Northern Nigeria (CCNN) shows a pattern of rise and fall in profit but this year looks very much like a big upturn for the cement manufacturing firm. Sales volume has been static for the company in the past two years but an accelerated growth in sales revenue looks likely from 2014 operations. Accelerating sales and cost savings [...]

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    GTB’s rising cost may leave profit flat or lower

GTB’s rising cost may leave profit flat or lower

Guaranty Trust Bank continued to lose profit on year-on-year basis up to the third quarter and the bank looks likely to close the 2014 financial with profit either flat or lower than prior year. The bank has experienced rapidly increasing costs this year, which has continued to constrict profit margin. A decline in profit margin slowed down profit growth [...]

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    International Breweries maintaining stable earnings growth

International Breweries maintaining stable earnings growth

International Breweries is maintaining earnings growth and improving market share in a highly competitive breweries market. The company consolidated on its revenue performance in its 2013/14 financial year ended March after three years of sustained rapid growth. It is stepping up towards accelerated growth in revenue and profit in the current financial year.Michael Daramola, the company’s managing director/chief executive officer, [...]

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    Africa Prudential Registrars’ two-point promise

Africa Prudential Registrars’ two-point promise

The management of Africa Prudential Registrars Plc is maintaining stable growth in revenue and profit for the second year after listing. Mr. Peter Ashade, managing director/chief executive officer of the company, made a two-point promise to shareholders at the time of listing the company in the Nigerian Stock Exchange in 2013. These are adding value to shareholders and maximizing their [...]

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    Transcorp: Maintaining high growth in revenue and profit

Transcorp: Maintaining high growth in revenue and profit

Transnational Corporation of Nigeria is steering its transformation process kicked off with the acquisition of a strategic stake by Heirs Holdings. This has actualized new investments in power, oil and gas, agriculture and hospitality, launching the conglomerate into a new phase of high growth. Last year, the company grew profit by over 175% to N6.96 billion. This year, another outstanding [...]

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    Dangote Flour Mills ends financial year with disappointment and hope

Dangote Flour Mills ends financial year with disappointment and hope

Dangote Flour Mill’s 2014 operations ended September is a mixture of a continuing earnings disappointment and hopes for recovery.  The disappointment is the posting of another big loss, marking the fifth year of a sustaining declivity since the company began to loss profit in 2010. A new hope however flickered through the company’s operations during the year with the first [...]

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    Access regaining earnings growth momentum

Access regaining earnings growth momentum

Access Bank is expected to finish this financial year with a much better operating story than shareholders heard last year. The bank seems to have regained the earnings growth momentum it lost last year when revenue was flat and profit declined. A step up in revenue growth and resumption in profit growth are likely to be the highlights of the [...]

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    Forte Oil maintaining profit recovery for third year

Forte Oil maintaining profit recovery for third year

Forte Oil Plc is maintaining profit recovery for the third year running despite that growth slowed down in the third quarter. The full year outlook indicates further improvement in profit after an outstanding growth of 432% last year. The company is in the third year of recovery, which is supported by both growing sales revenue and a gain in profit [...]

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    First Bank growing revenue, losing profit

First Bank growing revenue, losing profit

FBN Holdings Plc improved revenue growth momentum in the third quarter but profit performance weakened during the period. While the bank is headed for an accelerated growth in revenue, only a modest recovery in profit may be possible at the end of the year. Two major expenditure lines eroded profit margin in the third quarter and caused a decline in [...]

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    Skye Bank heads for profit drop at full year

Skye Bank heads for profit drop at full year

After two years of recovery and growth, Skye Bank is headed for another drop in profit in 2014 based on the third quarter growth rate. Two major developments on the bank’s income statement are responsible for undermining its growth momentum this year. One is provisioning for credit losses, which is up by 62% and the other is a decline in [...]

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    Oando’s profit slows down in Q3 on surging cost of funds

Oando’s profit slows down in Q3 on surging cost of funds

Oando’s third quarter report shows it could not maintain the profit growth rate seen in the second quarter and the full year profit outlook has moderated significantly. Rising interest and administrative expenses have eroded margins and undermined profit growth. Despite an accelerated growth in sales revenue in the third quarter, the company still continues to lose revenue on year-on-year basis. [...]

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    Nigerian Breweries set to consolidate industry leadership

Nigerian Breweries set to consolidate industry leadership

Nigerian Breweries is moving further in the direction of strategic acquisitions and investments that have enabled it to keep growing all segments of the brewed products market and maintain industry leadership. While the total brewed products market is slowing down, the company is able to gain market share and out-perform the market. The company’s management isn’t relenting in the investment [...]

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    Nestle Nigeria: Expect lowest earnings growth in five years

Nestle Nigeria: Expect lowest earnings growth in five years

Nestle Nigeria is headed for the lowest growth in both revenue and profit in five years this year based on the growth rate in the third quarter. The company has maintained a stable growth in sales revenue in the past five years at an average annual growth of 19.4%. It is doing well below the average this year. Current projections [...]

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    Sterling Bank: Profit growth slows down on loss of margin

Sterling Bank: Profit growth slows down on loss of margin

Sterling Bank lost profit margin in the third quarter against the second quarter position and the profit growth rate for the current year has slowed down. The bank needs a strong growth in profit this year in which its volume of shares has increased in order to show a reasonable improvement in earnings per share and dividend prospects. This isn’t [...]

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Exchange Rates

September 20, 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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