Sunday, February 25, 2018
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    Transcorp: Bouncing back into profit

Transcorp: Bouncing back into profit

Transnational Corporation of Nigeria (Transcorp) will expectedly finish the 2017 financial year with a big rebound from a loss last year into a new profit high. A big foreign exchange loss that caused a loss of N1.13 billion in 2016 is out of the way as at the end of the third quarter last September. Strong improvements in revenue and [...]

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    Dangote Cement: Profit breaks free from flat growth

Dangote Cement: Profit breaks free from flat growth

Dangote Cement Company’s third quarter operations ended with a breakout in profit performance after a marginal improvement in 2016. The cement producing company was unable to grow profit last year despite a 25% growth in sales revenue. This year, the company is growing profit ahead of sales revenue and revenue is growing against declining sales volume.At the end of the [...]

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    Another rosy year for Unilever Nigeria

Another rosy year for Unilever Nigeria

Unilever Nigeria has improved further the high earnings speed with which it began the 2017 financial year. The conglomerate closed the third quarter trading last September with a far bigger profit than it posted in all of 2016.Sales revenue has gained speed from a growth of 32% in the first quarter to 39% in the third. Profit multiplied more than [...]

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    GTB defending profit from revenue slowdown

GTB defending profit from revenue slowdown

A wide swing in revenue from the highest growth in many years in 2016 to a flat growth looks apparent for Guaranty Trust Bank in 2017. Revenue growth has slowed down considerably from the initial force with which the bank opened trading this year in the first quarter. GTB lost revenue at the end of the third quarter and profit [...]

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    FBN Holdings stages earnings rebound in third quarter

FBN Holdings stages earnings rebound in third quarter

FBN Holdings broke free from a two-year downslide in profit performance at the end of the third quarter of 2017 and established a moderate year-on-year improvement. The bank closed last year with just one-sixth of its peak net profit figure of over N84 billion in 2014. At the end of September this year, after tax profit was standing more than [...]

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    Seplat on course towards returning to profit

Seplat on course towards returning to profit

Seplat Petroleum Development Company made further progress in the third quarter on its journey back into profit. Revenue kept accelerating and the loss position continued to thin down, reaching close to break-even level at the end of September.The developments are in line with management’s expectation that interim losses would continuously decline in the course of the current year and possibly [...]

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    UBA maintains earnings growth despite profit slowdown

UBA maintains earnings growth despite profit slowdown

United Bank for Africa (UBA) kept revenue accelerating for the third year running at the end of third quarter operations in September but profit slowed down during the period on loss of profit margin. The bank maintains a top industry growth rate in profit but a decline in net profit margin from 19% in the second quarter to 18.2% in [...]

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    PZ Cussons: The question mark on profit

PZ Cussons: The question mark on profit

PZ Cussons closed its first quarter trading at the end of August with sales revenue looking up for the second year. The conglomerate achieved the strongest growth in sales revenue in five years in its last financial year ended May 2017. However the strength in profit performance seen in the prior financial year is out of the way so far [...]

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    UACN heads for lowest profit in years

UACN heads for lowest profit in years

Rising costs have undermined profit capacity for UACN and the conglomerate is headed for the lowest profit figure in many years at the end of 2017.  The company is sustaining growth in revenue for the second year but it is devoting an increasing share of it to operating cost. Last year, rising costs caused a subdued recovery in profit, which [...]

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    Conoil: Profit drops on earnings constraints

Conoil: Profit drops on earnings constraints

Conoil is headed for a major drop in profit at the end of 2017 based on the company’s performance at the end of half year operations in June. Revenue growth remains constrained at well below previous highs. A windfall from interest on delayed subsidy payment, which boosted profit last year, is missing in the current year.That resulted in a collapse [...]

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Exchange Rates

Feb 23, 2018USDGBPEUR
INTERBANK360.45487.18428.32
LAGOS364497448
KANO364495430
PH363498435
ABUJA365497434
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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