Thursday, January 17, 2019

Mike 'Uzor

    Crude revenue reaches 12-month peak — but fuel imports are a killjoy

Crude revenue reaches 12-month peak — but fuel imports are a killjoy

Crude oil export revenue reached the highest mark in 13 months at the end of September 2017 but continued importation of petroleum products is sapping much of the earnings, NNPC’s oil and gas report for the month of October has shown. [...]

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    NNPC’s deficit spending keeps growing

NNPC’s deficit spending keeps growing

NNPC’s oil and gas report for October 2017 shows a further increase in the corporation’s overall deficit spending -- despite a drop during the month compared to September. [...]

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    Healthcare companies responding to treatment

Healthcare companies responding to treatment

Pharmaceutical companies are pushing their way forward through the economic difficulties and the sector looks quite promising to be one of the firsts to get the spur of economic recovery. Nigeria’s large consumer market is able to consume its way out of economic decline and   healthcare companies here offer food and medicines that drive the rest of the consumer market.The [...]

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    REVEALED: Nigeria’s refining capacity drops to lowest in years

REVEALED: Nigeria’s refining capacity drops to lowest in years

Consolidated capacity utilisation of Nigeria’s three refineries dropped to 6.1% at the end of September 2017, a sustained decline from the average figure of 13.7% in 2016.  [...]

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    Outlook for cement companies: Expect profit rebound

Outlook for cement companies: Expect profit rebound

Cement companies are expected to have finished 2017 trading on a generally elevated earnings position, breaking forth from the loss of operating momentum that has greeted the sector since 2014. Rising cost of production has been a limiting factor for the operators here but they seem to have found a way around it in the concluded financial year.Further to that, [...]

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    Breweries: From despair to rising hopes

Breweries: From despair to rising hopes

Fiscal 2017 is a year in which new hopes have flickered through the breweries sector, holding mild turnaround prospects for a sector that has been in despair for the preceding three years running. Brewing companies have faced the worst operating period in decades since 2014. The total brewed products market moved from stagnation to a decline during these years.Breweries are [...]

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    Golden period for oil palm companies

Golden period for oil palm companies

Oil palm companies seem to be in a golden period, operating from the agricultural sector that is the growth driver of the economy and particularly favoured by the Central Bank’s restrictive foreign exchange policy. Agricultural sector has maintained positive growth all through the economic decline and is the positive force in the current recovery. The big advantage of oil palm [...]

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    Nascon Allied: Expect big profit leap at full year 

Nascon Allied: Expect big profit leap at full year 

Nascon Allied Industries is on the way to delivering one of the biggest profit advances from the food/beverages group at the end of 2017. The salt manufacturing company has sweetened shareholders’ expectations so far in the year with a year-on-year jump of 130% in after tax profit at the end of the third quarter trading last September.The principal business of [...]

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    Stock market outlook: Of roses and thorns

Stock market outlook: Of roses and thorns

The equities market, like the rose plant, is offering both roses and thorns at a time. It is possible to enter the market and find it to be full of roses while somebody else gets in and feels the pain of piercing thorns. The difference is the varying degrees of impact of the economic climate on businesses – some being [...]

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    Dangote Flour Mills: Another year of exceptional growth

Dangote Flour Mills: Another year of exceptional growth

Dangote Flour Mills is showing an operating strength recharged to grow revenue and profit above the 15-month records of the preceding year. The company’s third quarter report for the 2017 financial year shows exceptional growths in revenue and profit. The ability to push sales has added a new momentum to the company’s operations for the second year.Renewed earnings capacity for [...]

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    Transcorp: Bouncing back into profit

Transcorp: Bouncing back into profit

Transnational Corporation of Nigeria (Transcorp) will expectedly finish the 2017 financial year with a big rebound from a loss last year into a new profit high. A big foreign exchange loss that caused a loss of N1.13 billion in 2016 is out of the way as at the end of the third quarter last September. Strong improvements in revenue and [...]

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    Dangote Cement: Profit breaks free from flat growth

Dangote Cement: Profit breaks free from flat growth

Dangote Cement Company’s third quarter operations ended with a breakout in profit performance after a marginal improvement in 2016. The cement producing company was unable to grow profit last year despite a 25% growth in sales revenue. This year, the company is growing profit ahead of sales revenue and revenue is growing against declining sales volume.At the end of the [...]

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    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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Exchange Rates

January 16, 2019USDGBPEUR
INTERBANK306397354
LAGOS362463411
KANO361465413
PH361462412
ABUJA362462413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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