Monday, November 12, 2018
Advertisement
    FBN Holdings: Revenue and profit end flat

FBN Holdings: Revenue and profit end flat

FBN Holdings closed the third quarter operations with revenue and profit flat, losing the improved performance outlook with which it ended the first half in June 2018. Interest income – the main income line of the bank increased its pace of decline while interest expenses quickened its rate of increase. A moderating factor came from non-interest income, which accelerated to [...]

0 comments Read Full Article
    GTB builds profit from volatile earnings

GTB builds profit from volatile earnings

Guaranty Trust Bank raised after tax profit by 13% to over N142 billion at the end of its third quarter operations in September 2018. The profit was built in the volatile earnings environment that has been ruling the banking business for the sixth year running. Interest income – the main earning line of the bank, fluctuated violently from the strongest [...]

0 comments Read Full Article
    Zenith Bank: Defending profit and shareholder wealth

Zenith Bank: Defending profit and shareholder wealth

Zenith Bank’s earnings story at the end of the third quarter operations in September 2018 is that management is succeeding to build profit and shareholder wealth from a sustaining drop in gross earnings. All the bank’s main income lines were down at the end of the third quarter, leading to a drop of 11% in gross earnings year-on-year. That was [...]

0 comments Read Full Article
    UBA: Containing growth in loan loss expenses for second year

UBA: Containing growth in loan loss expenses for second year

United Bank for Africa (UBA) closed third quarter operations with an after tax profit of N61.7 billion, a flat growth over the corresponding figure in 2017. The flat position looks likely to be the story for the bank at full year, pointing to a likely slowdown on profit performance for the second year.The bank ended the 2017 financial year with [...]

0 comments Read Full Article
    International Breweries: Gaining sales, losing profit

International Breweries: Gaining sales, losing profit

International Breweries is building sales revenue from expanding market share but the revenue gains aren’t reaching the bottom line. The Ilesha-based company has been on a major capacity building endeavour since last year under which it has merged with an Onitsha-based Intafact Breweries Ltd, producers of hero beer and Port Harcourt-based Pabod Breweries Ltd.The post merger entity – International Breweries, [...]

0 comments Read Full Article
    Presco: Profit heads for sharp drop

Presco: Profit heads for sharp drop

Presco, the oil palm and rubber producing company, is headed for a sharp drop in profit this year after lifting profits to great highs in the preceding two years. Gain on biological assets revaluation of N24.8 billion multiplied the company’s after tax profit close to nine times in 2016 and a tax credit of N14.5 billion helped to produce the [...]

0 comments Read Full Article
    NASCON Allied: Strong second half key to profit outlook

NASCON Allied: Strong second half key to profit outlook

NASCON Allied Industries isn’t running with the high speed gear on sales that it engaged last year. Sales revenue was flat at the end of half year trading, a sharp turn from a top record growth of 50% at the end of 2017 – the strongest revenue growth in the past five years. The leap in sales revenue led to [...]

0 comments Read Full Article
    Guinness Nigeria cuts spending on creditors to pay shareholders

Guinness Nigeria cuts spending on creditors to pay shareholders

Guinness Nigeria’s strategy to cut its spending on creditors in finance expenses to build wealth for shareholders has been achieved. This is the summary of the company’s operating results for the 2018 financial year, thus paying back investors in their good coin of availing the company new money last year that permitted a cut down in balance sheet borrowings.The brewing [...]

0 comments Read Full Article
    Sterling Bank: Rebuilding profit despite high cost of funds

Sterling Bank: Rebuilding profit despite high cost of funds

Sterling Bank is feeling the pain of rising interest expenses that consumed more than all the increase in interest income at the end of half year operations in June 2018.Management is however maintaining the course of rebuilding profit for the second year from a 50% drop it experienced in 2016.A sharp drop on credit loss expenses and a strong growth [...]

0 comments Read Full Article
    UAC Nigeria rebuilding profit from falling sales

UAC Nigeria rebuilding profit from falling sales

UAC Nigeria is striving to rebuild profit after a profit collapse last year left it with a fraction of the preceding year’s figure.The turnaround process is, however, constrained by dropping sales revenue and the consequent drop in cash generation from operations.There is a sharp swing from net cash generated from operating activities of N1.76 billion in the same period [...]

0 comments Read Full Article
Advertisement
Advertisement

 

Advertisement

Advertisement

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.
Advertisement
Advertisement
Advertisement