Monday, March 18, 2019
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    Transcorp doubles profit at full year

Transcorp doubles profit at full year

Transnational Corporation of Nigeria (Transcorp) has closed the 2018 financial year with 100% profit advance, as projected. The conglomerate netted N20.6 billion for the year, which is almost at par with all the profits it posted in the preceding four years put together. This is a strong profit growth sustained for the second year.The breakthrough performance pivoted on the company’s [...]

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    Guinness Nigeria: Cost saving saves profit

Guinness Nigeria: Cost saving saves profit

Guinness Nigeria reduced interest expenses by more than two-thirds year-on-year at the end of its second quarter trading in December 2018. That was the singular event that enabled the brewing company to jerk up profit at the end of the period. This is in continuation of the company’s strategy in the preceding financial year when it slashed finance cost by [...]

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    Nigerian Breweries: Lowest profit in 10 years

Nigerian Breweries: Lowest profit in 10 years

Nigerian Breweries closed the 2018 operations with a lower profit than the company has posted any time since 2008. A drop of over N20 billion in sales revenue was the big event in the company’s operating story in the year. Costs failed to go down with sales revenue, resulting in a record profit drop for the brewing giant.Except for an [...]

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    FCMB: Expect a big turnaround

FCMB: Expect a big turnaround

First City Monument Bank (FCMB) is expected to report a big turnaround for the 2018 financial year. The bank’s full year earnings report, expected to reach the market in weeks, could show profit at a four-year high. That would more than compensate for a 34% profit drop in 2017.Earnings growth gained momentum in the third quarter, stretching out revenue growth [...]

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    Okomu Oil Palm expects to keep profit stable at full year

Okomu Oil Palm expects to keep profit stable at full year

The Okomu Oil Palm Company is expected to keep profit stable for the 2018 operations despite an inability to grow sales revenue. The company achieved an 86% advance in after-tax profit in 2017 from a 41% rise in turnover.In the 2018 operations, the strength from growing sales revenue was missing as at the end of the third quarter. Nevertheless, [...]

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    Presco: Profit boosters still missing

Presco: Profit boosters still missing

Presco’s full year operating result for 2018 isn’t likely to have the profit performance boosters that gave it extraordinary leaps in the preceding two years. Save for a last quarter surprise, the oil palm and rubber producing company is expected to report a sharp fall in profit for the 2018 financial year.Two performance boosters had helped the company to push [...]

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    Total Nigeria expects profit recovery from preceding year’s drop

Total Nigeria expects profit recovery from preceding year’s drop

Total Nigeria expects to show a profit rebound in its 2018 full year earnings report being awaited after a drop of 46% in after tax profit in the 2017 financial year. The recovery isn’t going to be strong enough to match the company’s peak profit figure of nearly N15 billion in 2016. It is however expected to be good enough [...]

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    Oando: Profit hopes hang on tax credit

Oando: Profit hopes hang on tax credit

Oando’s hopes for profit improvement in its 2018 operations hang largely on how much tax credit the company could get at full year. Tax credit produced more than one-half of its after tax profit at the end of the third quarter operations in September 2018.There was however a sharp swing from a tax credit of N13 billion in the second [...]

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    Fidelity Bank: Expect another strong profit advance

Fidelity Bank: Expect another strong profit advance

Fidelity Bank’s 2018 operation is expected to establish profit at a new peak, up on the 93% net profit lifting in 2017. The bank gained speed in earnings growth after an initial lull on the earnings track and has changed the full year profit outlook for the better.At the end of the third quarter in September 2018, profit was already [...]

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    Dangote Cement: Revenue growth amidst FX challenges

Dangote Cement: Revenue growth amidst FX challenges

Dangote Cement group could not recover from a huge foreign exchange loss in the second quarter and a further slowdown in profit performance happened in the third quarter. The cement producing company however made substantial progress to change a foreign exchange loss of N15.4 billion in the second quarter to a modest gain of N2 billion in the third.The improvement [...]

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Exchange Rates

March 15, 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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