Thursday, November 15, 2018

Mike 'Uzor

    International Breweries loses growth momentum

International Breweries loses growth momentum

International Breweries lost its profit growth momentum in the third quarter and the full year earnings outlook for the company has moderated. Revenue growth remained quite good and the company is still on the way to a new peak in turnover in the current financial year ending March. Profit however dropped by almost a quarter year-on-year at the end of [...]

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    Honeywell Flour Mills: Naira devaluation hits profit

Honeywell Flour Mills: Naira devaluation hits profit

Honeywell Flour Mills closed third quarter operations in December 2014 with less than one-half of the profit it earned over the same period in the preceding year. A currency devaluation loss of N903 million is largely responsible for the profit drop. Rising selling and administrative expenses against falling sales revenue has also hurt profit performance. A major drop in net [...]

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    Equities market: The bear slows down

Equities market: The bear slows down

The equities market witnessed further moderation of selling pressure last week and the market shifted generally to the side of price advances. Equities on the side of price gains measured from year to date declined and those on the side of losses equally declined, leaving the outlook a bit dicey. With more stocks staying well below their year’s opening levels [...]

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    Flour Mills’ profit falling for the fourth year

Flour Mills’ profit falling for the fourth year

Flour Mills of Nigeria traded at a loss for the three months of its third quarter ended December 2014. With that, the company closed its nine months of operations with a lower profit than it reported in the second quarter, which is also a drop year-on-year. The company’s three-year falling profit trend has therefore extended into the fourth year.The flour [...]

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    Guinness Nigeria: Profit heads for 9-year low

Guinness Nigeria: Profit heads for 9-year low

Guinness Nigeria is still headed downward in terms of profit performance in the current financial year ending June. The brewing company closed its last financial year with the lowest profit figure in eight years and further drop looks quite likely this financial year.Based on the second quarter growth rate, the company is likely to post the lowest profit in nine [...]

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    7-Up keeps profit growing

7-Up keeps profit growing

Seven Up Bottling Company is maintaining profit growth for the fourth year running on stable growth in sales revenue and consistent gains in market share. The soft drinks company is expected to finish the current financial year ending March with new peaks in revenue and profit after it tripled profit in the preceding year.  The company has sustained high profit [...]

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    MRS Oil: High Q3 growth may thin down at full year

MRS Oil: High Q3 growth may thin down at full year

MRS Oil posted one of the strongest profit advances among listed companies in the third quarter but the high growth is expected to thin down at full year. On year-on-year basis, the company lifted after tax profit by almost 529% at the end of September but a windfall in other income in the final quarter of the preceding year isn’t [...]

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    GlaxoSmithKline may post lowest profit in four years

GlaxoSmithKline may post lowest profit in four years

GlaxoSmithKline Consumer Nigeria has grown profit every year over the past three years but the pharmaceutical company appears to have lost the growth momentum in 2014. The company experienced a slowdown in sales revenue growth in the course of last year’s operations and costs grew ahead of income. That lowered profit margin to the lowest level in many years. Interim [...]

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    John Holt gets question mark over survival

John Holt gets question mark over survival

John Holt Plc closed its 2014 operations as at September with a question mark over the validity of the assumed going concern basis for the preparation of its accounts. Unless fresh financial support is provided for the critically needed working capital, the going concern basis will be invalid, according to a statement in the company’s financial report. The auditors therefore [...]

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    Cadbury Nigeria: Losing the turnaround gains

Cadbury Nigeria: Losing the turnaround gains

Cadbury Nigeria appears to be witnessing the reversal of the critical gains and changes in its operating structure that led to its return to profit in 2010. Revenue growth, which picked up in 2010 has slowed down and a drop in turnover looks likely from the 2014 operations. Profit margin dropped to the lowest mark in four years as per [...]

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    Ecobank: Expect outstanding profit growth in 2014

Ecobank: Expect outstanding profit growth in 2014

Ecobank Inc is expected to achieve a sharp recovery and an outstanding growth in 2014 with profit likely to hit a new peak in the year. Its interim result at the end of the third quarter shows that the bank’s management is set to reverse the sharp fall in profit it reported in the preceding year. At the end of [...]

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    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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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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