Tuesday, November 13, 2018

Mike 'Uzor

    Another rosy year for Unilever Nigeria

Another rosy year for Unilever Nigeria

Unilever Nigeria has improved further the high earnings speed with which it began the 2017 financial year. The conglomerate closed the third quarter trading last September with a far bigger profit than it posted in all of 2016.Sales revenue has gained speed from a growth of 32% in the first quarter to 39% in the third. Profit multiplied more than [...]

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    GTB defending profit from revenue slowdown

GTB defending profit from revenue slowdown

A wide swing in revenue from the highest growth in many years in 2016 to a flat growth looks apparent for Guaranty Trust Bank in 2017. Revenue growth has slowed down considerably from the initial force with which the bank opened trading this year in the first quarter. GTB lost revenue at the end of the third quarter and profit [...]

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    FBN Holdings stages earnings rebound in third quarter

FBN Holdings stages earnings rebound in third quarter

FBN Holdings broke free from a two-year downslide in profit performance at the end of the third quarter of 2017 and established a moderate year-on-year improvement. The bank closed last year with just one-sixth of its peak net profit figure of over N84 billion in 2014. At the end of September this year, after tax profit was standing more than [...]

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    Seplat on course towards returning to profit

Seplat on course towards returning to profit

Seplat Petroleum Development Company made further progress in the third quarter on its journey back into profit. Revenue kept accelerating and the loss position continued to thin down, reaching close to break-even level at the end of September.The developments are in line with management’s expectation that interim losses would continuously decline in the course of the current year and possibly [...]

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    UBA maintains earnings growth despite profit slowdown

UBA maintains earnings growth despite profit slowdown

United Bank for Africa (UBA) kept revenue accelerating for the third year running at the end of third quarter operations in September but profit slowed down during the period on loss of profit margin. The bank maintains a top industry growth rate in profit but a decline in net profit margin from 19% in the second quarter to 18.2% in [...]

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    PZ Cussons: The question mark on profit

PZ Cussons: The question mark on profit

PZ Cussons closed its first quarter trading at the end of August with sales revenue looking up for the second year. The conglomerate achieved the strongest growth in sales revenue in five years in its last financial year ended May 2017. However the strength in profit performance seen in the prior financial year is out of the way so far [...]

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    UACN heads for lowest profit in years

UACN heads for lowest profit in years

Rising costs have undermined profit capacity for UACN and the conglomerate is headed for the lowest profit figure in many years at the end of 2017.  The company is sustaining growth in revenue for the second year but it is devoting an increasing share of it to operating cost. Last year, rising costs caused a subdued recovery in profit, which [...]

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    Conoil: Profit drops on earnings constraints

Conoil: Profit drops on earnings constraints

Conoil is headed for a major drop in profit at the end of 2017 based on the company’s performance at the end of half year operations in June. Revenue growth remains constrained at well below previous highs. A windfall from interest on delayed subsidy payment, which boosted profit last year, is missing in the current year.That resulted in a collapse [...]

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    UBA: Good earnings story so far

UBA: Good earnings story so far

United Bank for Africa (UBA) has written good earning stories of accelerating revenue and strong growth in profit for the past two years. The good earnings story for the bank has continued so far in the 2017 financial year. Revenue is accelerating for the third year running, having grown faster in 2016 than any time since 2011. In terms of [...]

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    Fidelity Bank on track for a big turnaround

Fidelity Bank on track for a big turnaround

Fidelity Bank is driving a big turnaround this year after a 30% drop in net profit in 2016. The bank closed half year operations in June 2017 with a renewed strength in profit performance. At the end of the period, after tax profit was already close to the full year figure last year. That seems to put the bank on [...]

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    Dangote Sugar beats 2016 full year profit in six months

Dangote Sugar beats 2016 full year profit in six months

Dangote Sugar Refinery ended half year operations in June with profit already well ahead of the full year profit figure it posted in 2016. That was notwithstanding a break out growth of over 29% in after tax profit last year. Since last year, the sugar refining company has been adding sweeteners to its earnings story in 2017.There is a favourable [...]

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    Stanbic IBTC: Good hope on recovery

Stanbic IBTC: Good hope on recovery

Fiscal 2017 looks very much like a year of good hope for Stanbic IBTC Bank for full recovery and attaining a new profit high for the bank. The bank made a substantial progress on its profit recovery journey last year and is presently on the last lap of a strong rebound.The bank is picking its way back from a 47% [...]

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    Access Bank: Interest cost limits profit at half year

Access Bank: Interest cost limits profit at half year

Access Bank faced a big challenge of rising interest expenses in the first half of its 2017 operations. The bank seems to have broken free from the constrained growth in revenue it encountered last year but a sharp increase in interest expenses weakened its ability to convert the improving earnings into profit. Profit margin is down for the second year [...]

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    The problem with monetary policy

The problem with monetary policy

The major outcome of the last meeting of the monetary policy committee of the Central Bank was a warning. The bank’s governor, Mr. Godwin Emefiele, warned that the economy was headed for a protracted recession unless what he described as “bold monetary and fiscal policies” are taken as a matter of urgency to sustain the economic recovery momentum. This means [...]

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    Diamond Bank: Interest cost hinders profit growth in 2nd quarter

Diamond Bank: Interest cost hinders profit growth in 2nd quarter

Rising interest expenses was the only major adverse development on Diamond Bank’s income statement at the end of half year operations. Its impact was nevertheless strong enough to hinder the bank’s ability to convert revenue into profit. Revenue performance strengthened during the period, as interest income that has been declining since 2015, registered a surprising leap of over 30% year-on-year. [...]

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    Zenith Bank lifts revenue, doubles profit at half year

Zenith Bank lifts revenue, doubles profit at half year

Zenith Bank closed its half year operations for the 2017 financial year with a more robust earnings picture than it has recorded for many years. Defying economic recession and late budget approval, the bank is showing accelerating growth in earnings for the second year. Its gross earnings towered a clear 77% above the corresponding figure last year and profit soared [...]

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Exchange Rates

November 9, 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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