Thursday, April 11, 2019
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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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    Transcorp may double profit at full year

Transcorp may double profit at full year

Transnational Corporation of Nigeria (Transcorp) is likely to close the 2018 financial year with double the profit figure of N10.61 billion it posted in 2017. The company’s interims show an elevated performance in 2018, sustaining a big turnaround and earnings growth for the second year.Management has steered operations out of a loss position in 2016 and the new momentum is [...]

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    UAC Nigeria may close with another profit drop

UAC Nigeria may close with another profit drop

UAC Nigeria is likely to experience another profit collapse in its 2018 operations with a chance of kissing the red. A turnaround outlook that saw an after tax profit of N1.32 billion at half year has faded, slashing the profit figure to N252 million at the end of the third quarter in September 2018.The conglomerate had closed half year trading [...]

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    Sterling Bank: Profit slows down as credit losses rise

Sterling Bank: Profit slows down as credit losses rise

Sterling Bank recorded a slowdown on profit growth at the end of the third quarter and that has undermined the strong full year growth projection for 2018. A sharp increase in credit loss expenses in the third quarter weakened the bank’s ability to convert its earnings into profit. The weakness was reinforced by a slowdown in revenue from 36% growth [...]

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    Lafarge Africa: Still building losses

Lafarge Africa: Still building losses

Lafarge Africa, the building materials company, is expected to post another huge loss for 2018 after a loss of nearly N35 billion in 2017. The company has been under pressure since 2016 when increased input cost and huge finance expenses led to a pre-tax loss of N23 billion. Rising administrative expenses has added to the challenges and the key expenditure [...]

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    Nestle Nigeria: The reward of debt reduction

Nestle Nigeria: The reward of debt reduction

Major cost saving from interest expenses and debt reduction is the strength of strong profit growth for Nestle Nigeria so far in 2018. It holds the promise for another strong profit growth that is expected to be the summary of the company’s earnings story for 2018.The consumer goods company has engaged a continuing reduction in balance sheet borrowings from over [...]

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Exchange Rates

April 11, 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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