Friday, September 21, 2018
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    UBA: Good earnings story so far

UBA: Good earnings story so far

United Bank for Africa (UBA) has written good earning stories of accelerating revenue and strong growth in profit for the past two years. The good earnings story for the bank has continued so far in the 2017 financial year. Revenue is accelerating for the third year running, having grown faster in 2016 than any time since 2011. In terms of [...]

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    Fidelity Bank on track for a big turnaround

Fidelity Bank on track for a big turnaround

Fidelity Bank is driving a big turnaround this year after a 30% drop in net profit in 2016. The bank closed half year operations in June 2017 with a renewed strength in profit performance. At the end of the period, after tax profit was already close to the full year figure last year. That seems to put the bank on [...]

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    Dangote Sugar beats 2016 full year profit in six months

Dangote Sugar beats 2016 full year profit in six months

Dangote Sugar Refinery ended half year operations in June with profit already well ahead of the full year profit figure it posted in 2016. That was notwithstanding a break out growth of over 29% in after tax profit last year. Since last year, the sugar refining company has been adding sweeteners to its earnings story in 2017.There is a favourable [...]

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    Stanbic IBTC: Good hope on recovery

Stanbic IBTC: Good hope on recovery

Fiscal 2017 looks very much like a year of good hope for Stanbic IBTC Bank for full recovery and attaining a new profit high for the bank. The bank made a substantial progress on its profit recovery journey last year and is presently on the last lap of a strong rebound.The bank is picking its way back from a 47% [...]

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    Access Bank: Interest cost limits profit at half year

Access Bank: Interest cost limits profit at half year

Access Bank faced a big challenge of rising interest expenses in the first half of its 2017 operations. The bank seems to have broken free from the constrained growth in revenue it encountered last year but a sharp increase in interest expenses weakened its ability to convert the improving earnings into profit. Profit margin is down for the second year [...]

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    Diamond Bank: Interest cost hinders profit growth in 2nd quarter

Diamond Bank: Interest cost hinders profit growth in 2nd quarter

Rising interest expenses was the only major adverse development on Diamond Bank’s income statement at the end of half year operations. Its impact was nevertheless strong enough to hinder the bank’s ability to convert revenue into profit. Revenue performance strengthened during the period, as interest income that has been declining since 2015, registered a surprising leap of over 30% year-on-year. [...]

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    Zenith Bank lifts revenue, doubles profit at half year

Zenith Bank lifts revenue, doubles profit at half year

Zenith Bank closed its half year operations for the 2017 financial year with a more robust earnings picture than it has recorded for many years. Defying economic recession and late budget approval, the bank is showing accelerating growth in earnings for the second year. Its gross earnings towered a clear 77% above the corresponding figure last year and profit soared [...]

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    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 [...]

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    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 [...]

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    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 [...]

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Exchange Rates

September 21, 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.
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