Company Analysis – TheCable https://www.thecable.ng Nigeria's independent online newspaper Fri, 16 Aug 2019 01:49:10 +0000 en-US hourly 1 TheCable Ratings: Top 10 banks by profit in 2018 https://www.thecable.ng/thecable-ratings-top-10-banks-by-profit-in-2018 https://www.thecable.ng/thecable-ratings-top-10-banks-by-profit-in-2018#respond Tue, 07 May 2019 08:24:04 +0000 http://www.thecable.ng/?p=350138 Nigerian banks made significant progress in recovering bad loans in 2018. That was the singular factor that powered profit performance in the year while revenue constraints remained. Some banks recorded

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CCNN: Assets multiply, dwarf profit https://www.thecable.ng/ccnn-assets-multiply-dwarf-profit https://www.thecable.ng/ccnn-assets-multiply-dwarf-profit#respond Mon, 22 Apr 2019 13:42:13 +0000 http://www.thecable.ng/?p=347085 Cement Company of Northern Nigeria (CCNN) multiplied the size of its balance sheet more than 14 times to almost N348 billion in 2018. A corresponding increase in earnings however failed

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UBA: Credit losses drop to the lowest figure in four years https://www.thecable.ng/uba-credit-losses-drop-to-the-lowest-figure-in-four-years https://www.thecable.ng/uba-credit-losses-drop-to-the-lowest-figure-in-four-years#respond Mon, 22 Apr 2019 08:27:49 +0000 http://www.thecable.ng/?p=347083 United Bank for Africa (UBA) closed the 2018 financial year with an after tax profit of N78.6 billion, flat on a restated N77.5 billion the bank posted in 2017. This

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Stanbic IBTC: Going strong for the third year running https://www.thecable.ng/stanbic-ibtc-going-strong-for-the-third-year-running https://www.thecable.ng/stanbic-ibtc-going-strong-for-the-third-year-running#respond Thu, 11 Apr 2019 06:10:24 +0000 http://www.thecable.ng/?p=344831 Stanbic IBTC Bank has sustained strong profit growth for the third year running to 2018. After tax profit was up 54% at the end of the year to N74.4 billion,

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Zenith Bank turns drop in revenue to rise in profit https://www.thecable.ng/zenith-bank-turns-a-drop-in-revenue-to-a-rise-in-profit https://www.thecable.ng/zenith-bank-turns-a-drop-in-revenue-to-a-rise-in-profit#respond Wed, 10 Apr 2019 17:00:02 +0000 http://www.thecable.ng/?p=344619 Zenith Bank’s earnings story at the end of 2018 operations is that management turned a drop in revenue into a rise in profit. It was a feat accomplished by the

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Access Bank rebuilds profit to new high https://www.thecable.ng/access-bank-rebuilds-profit-to-new-high https://www.thecable.ng/access-bank-rebuilds-profit-to-new-high#respond Wed, 03 Apr 2019 11:49:41 +0000 http://www.thecable.ng/?p=343041 Access Bank closed the 2018 financial year with a strong final quarter that produced close to 30% of gross earnings and more than one-third of profit. That changed the bank’s

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GTB keeps profit up on moderate earnings https://www.thecable.ng/gtb-keeps-profit-up-on-moderate-earnings https://www.thecable.ng/gtb-keeps-profit-up-on-moderate-earnings#respond Sun, 31 Mar 2019 21:00:25 +0000 http://www.thecable.ng/?p=342393 Guaranty Trust Bank experienced another year of tight revenue in 2018 and management had to apply a pruning saw on costs to build profit. The volatile earnings behaviour seen at

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Seplat Petroleum: Profit drops on tax expense reappearance https://www.thecable.ng/seplat-petroleum-profit-drops-on-tax-expense-reappearance https://www.thecable.ng/seplat-petroleum-profit-drops-on-tax-expense-reappearance#respond Sun, 24 Mar 2019 09:26:03 +0000 http://www.thecable.ng/?p=340670 Seplat Petroleum Development Company has closed its 2018 operations with after tax profit down by 45% to N45 billion against a 500% advance in pre-tax profit to over N80 billion.

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Transcorp doubles profit at full year https://www.thecable.ng/transcorp-doubles-profit-at-full-year https://www.thecable.ng/transcorp-doubles-profit-at-full-year#respond Sun, 17 Mar 2019 18:38:24 +0000 http://www.thecable.ng/?p=339287 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

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Guinness Nigeria: Cost saving saves profit https://www.thecable.ng/guinness-nigeria-cost-saving-saves-profit https://www.thecable.ng/guinness-nigeria-cost-saving-saves-profit#respond Mon, 11 Mar 2019 16:57:48 +0000 http://www.thecable.ng/?p=337958 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

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