Friday, August 18, 2017
Advertisement
    Africa Prudential multiplies profit, heads for big harvest for investors

Africa Prudential multiplies profit, heads for big harvest for investors

Africa Prudential, the share registration company, closed half year trading at the end of June 2017 with more than three times the profit figure it posted in the same period last year. Two major developments accounted for the exceptional growth in profit during the period. One is a growth of over 87% in net investment income and the other a [...]

0 comments Read Full Article
    Nigerian Breweries: Profit outlook improves further

Nigerian Breweries: Profit outlook improves further

Nigerian Breweries sustained its elevated earnings performance in the second quarter and a renewed strength in profit performance this year has strengthened further. The brewing giant had closed last year’s trading with profit down to the lowest figure in many years. The company has found a new strength this year good enough to make up for last year’s weakness and [...]

0 comments Read Full Article
    CAP losing profit for the second year

CAP losing profit for the second year

Chemical and Allied Products (CAP) closed second quarter operations with profit down year-on-year, sustaining profit drop for the second year. The paints producing company has been unable to grow sales revenue since last year and with that, profit capacity has continued to sag. Sale of paint products constitutes the dominant revenue line for the company. It managed to keep sales revenue [...]

0 comments Read Full Article
    Transcorp Hotels off the recovery track

Transcorp Hotels off the recovery track

Transcorp Hotels is off the earnings recovery track in the current year after two years of progress in rebuilding profit. The company’s earnings records follow a pattern of up and down swings and a downturn seems set to follow the elevated performance in 2016. The hospitality company closed half year operations at the end of June with a drop of 60% [...]

0 comments Read Full Article
    Unilever beats last year’s profit in six months

Unilever beats last year’s profit in six months

Unilever Nigeria closed the second quarter trading with a bigger profit than it earned in all of 2016. The conglomerate has accelerated further the high earnings speed with which it operated in the first quarter. Sales revenue has gained speed from a growth of 32% in the first quarter to 40% in the second quarter. Profit soared far beyond the [...]

0 comments Read Full Article
    Flour Mills: Profit drops despite strong revenue

Flour Mills: Profit drops despite strong revenue

Flour Mills of Nigeria sustained a further slowdown in profit in the final quarter and profit dropped faster than projected at full year ended March 2017. This was in spite of the fastest revenue growth the company has seen in three years. Sales revenue accelerated in the final quarter as profit decelerated and closed slightly above projection.Costs moderated generally at [...]

0 comments Read Full Article
    Cadbury Nigeria: Operating pressure persists

Cadbury Nigeria: Operating pressure persists

The operating pressure that saw Cadbury Nigeria back in the red in 2016 is persisting in the current year. Cost of sales rose two and half times as fast as sales revenue, which caused gross profit to sink by 26% at the end of the first quarter. The company’s robust finance income has thinned down on serious cash flow difficulties [...]

0 comments Read Full Article
    FBN Holdings: Profit headed down for the third year

FBN Holdings: Profit headed down for the third year

FBN Holdings is seeing for the third year running a divergence of growing revenue and declining profits. Underlying these trends are two major cost lines of the bank that are warring against its bottom line. One is loan loss expenses in the face of growing non-performing loans and the other is interest cost. In the past two years, the bank has [...]

0 comments Read Full Article
    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 [...]

0 comments Read Full Article
    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 [...]

0 comments Read Full Article
Advertisement

Exchange Rates

Aug 18, 2017USDGBPEUR
INTERBANK338.00435.64396.98
LAGOS368478432
KANO369477430
PH370477433
ABUJA370477432
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
Advertisement
Advertisement
Advertisement
Advertisement