Tuesday, June 27, 2017
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    GTB: Another year of galloping growth in profit

GTB: Another year of galloping growth in profit

Guaranty Trust Bank is maintaining an outstanding growth in earnings for the second year after it posted the highest profit advance in four years in 2016. The bank’s first quarter operations ended March 2017 shows a towering growth of 62% in after tax profit year-on-year. This indicates good prospects for another strong profit growth in 2017 after a leap of [...]

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    ETI: Losing in dollars, gaining in naira

ETI: Losing in dollars, gaining in naira

Ecobank Transnational Inc (ETI) is showing two different pictures of earnings performance in the 2017 financial year. In dollar terms, the pan-African bank is showing a dismal picture of losing both revenue and profit. Gross earnings declined by 12% to a little over $582 million at the end of the first quarter trading in March 2017 and net profit plunged [...]

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    Dangote Flour Mills: Building profit for the second year

Dangote Flour Mills: Building profit for the second year

Dangote Flour Mills is building profit for the second year after returning to profit at the end of 2016 from many years of sustained losses. The company’s first quarter report for the 2017 financial year shows a strong growth in revenue and a shift of the bottom line from red in the first quarter of the preceding financial year into [...]

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    Seplat Petroleum: Loss sustains on oil sales constraint

Seplat Petroleum: Loss sustains on oil sales constraint

Seplat Petroleum Development Company ended its first quarter operations with a bigger loss than it reported in the same period last year. The loss position had grown massively from N4.5 billion in the first quarter of 2016 to more than N45 billion at full year.The company’s management is expecting a reverse performance this year whereby the first quarter loss would [...]

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    Okomu Oil Palm: Expect the biggest profit in five years

Okomu Oil Palm: Expect the biggest profit in five years

Okomu Oil Palm seems set for a big haul this year with profit headed for a five-year peak in a sustaining recovery for the third year running. The oil palm and rubber producing company is reaping the rewards of the Central Bank’s restriction of foreign exchange to palm oil importers and the reduced competition has permitted gains on the both [...]

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    Presco: Another year of outstanding earnings leap

Presco: Another year of outstanding earnings leap

Presco, the oil palm producing company, is experiencing another year of galloping growth in revenue and profit that has lifted the company into the top range of listed companies by earnings per share. Last year, the company registered an explosive profit high jump that established profit well above sales revenue. It multiplied after tax profit close to nine times to [...]

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    Nestle Nigeria: Defending profit against rising cost

Nestle Nigeria: Defending profit against rising cost

Nestle Nigeria is again struggling with rising costs but appears to be definitely in a better position to rebuild and grow profit this year. The company is looking good to remedy the profit slump of last year and set a new profit high in 2017. That depends on its ability to sustain the earnings performance seen in the first quarter.Three [...]

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    Nigerian Breweries looks promising to rebuild profit in 2017

Nigerian Breweries looks promising to rebuild profit in 2017

Nigerian Breweries has made a promising first quarter start that could see a renewed strength in profit performance this year. The brewing company had lost over 25% of net profit last year, reducing profit to the lowest figure in several years. This year is however looking good for the company in terms of good prospects for lifting profit to a [...]

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    Unilever Nigeria hopeful for another profit leap

Unilever Nigeria hopeful for another profit leap

Unilever Nigeria’s first quarter operations have raised hopes for another high rise in profit in 2017 after registering a 158% advance in after tax profit in 2016. It was a turnaround for the company last year that ended three years of running profit fall. The company’s turnaround momentum appears to be gaining speed this year and the conglomerate looks promising [...]

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    Fidelity Bank sustains dividend despite profit drop

Fidelity Bank sustains dividend despite profit drop

Fidelity Bank closed the 2016 operations with a profit drop that has altered the course of its recovery from a major profit fall in 2013. Despite that, it has sustained dividend payout for the fifth year running. Revenue growth was sustained in the year but rising credit losses weakened profit margin and reduced profit to the lowest figure in three [...]

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Exchange Rates

June 27, 2017USDGBPEUR
INTERBANK324.50413. 31363.50
LAGOS369465407
KANO367464410
PH370465412
ABUJA366465407
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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