Capital Market

Presco records post tax loss of –N196m

Ihesiulo Grace 3 November 2017 0

Presco Nigeria plc has recorded suppressed performance for the period ended 30th September 2017 as its key performance indices closed on red. The report released by the Nigerian Stock Exchange (NSE) Wednesday showed no positive index as the result has triggered negative market sentiment

Capital Market

Okomu Oil Q3 2017 reports PAT decline by 73% y/y

Ihesiulo Grace 2 November 2017 0

Okomu Oil Plc third quarter result for the period ended 30th September, 2017, has shown growth in net finance cost growing from –N102 million to N65m. The result showed that sales and PBT grew by 22 per cent y/y and 14 per cent y/y to N4.1bn and N1.4billion, respectively. However, PAT declined by -73 per […]

Capital Market

Conoil improves turnover by N6.3bn in Q3

Ihesiulo Grace 2 November 2017 0

Conoil Plc has announced a substantial increase in its turnover for the third quarter of its 2017 financial year in defiance of the trend among major oil marketers for the financial year under review. According to capital market analysts, the company’s performance is commendable in view of the tough operating environment the downstream sector of […]

Capital Market

Equities market index closes October with 3.5% growth

Ihesiulo Grace 2 November 2017 0

Nigeria’s equities market has ended the month of October on a positive note as the performance for the last day of the month improved the Month-to-Date and Year-to-Date returns to 3.5 per cent and 36.3 per cent respectively. Trading activities on the equities segment of the Nigerian Stock Exchange (NSE) sustained a positive growth on […]

Capital Market

NDDC commissions major road in Umuahia

Ihesiulo Grace 2 November 2017 0

The Niger Delta Development Commission (NDDC), has commissioned the Ubaha-Umuogba Orindu link Road in Umuahia North Local Government Area of Abia State. Speaking at the commissioning of the 3.2-kilometre road, the NDDC Managing Director, Mr Nsima Ekere, who was accompanied by the Executive Director Projects, Engr. Samuel Adjogbe, said that the road is one of […]

Capital Market

Nigerian Breweries delights shareholders with N7.9bn dividend.

Ihesiulo Grace 30 October 2017 0

The Board of Directors of Nigerian Breweries Plc has announced revenue of N254.7 billion for nine months ended September 30, 2017. In the statement of the result sent to Nigerian Stock Exchange, the board of the company further announced the declaration of an interim dividend of N7,996,902,051bn (Seven billion, nine hundred and ninety six million, […]

Capital Market

Cadbury Nigeria reverses PAT loss position in Q3

Ihesiulo Grace 30 October 2017 0

*Returns to profitability Shareholders of Cadbury Nigeria Plc, have started looking up to robust performance by the company for the 2017 financial year, having recorded return to profitability in its Q3 2017 results, buoyed by tax holiday. The Nigerian top ranked beverages firm’s unaudited third quarter (Q3) result for the period ended 30th September, 2017, […]

Capital Market

Banks, consumer goods, conglomerates lift market

Ihesiulo Grace 30 October 2017 0

…as UBA, Access, FBN Holdings lead gainers Activities of investors on the floor of the Nigerian Stock Exchange (NSE) for the week ended Friday, 27th October, 2017, showed that the banking, conglomerates and consumer sector appealed more to investors, lifting he week’s market turnover .However, a total turnover of 1.394 billion shares worth N16.403bn in […]

Capital Market

CSCS lifts automation, efficiency with TCS BaNCS

Ihesiulo Grace 30 October 2017 0

*As Jalo Waziri, new CSCS boss assumes duty The Central Securities Clearing System (CSCS) Plc has given indication that it would increase automation and improve efficiencies in the Nigerian capital market with the deployment of TCS BaNCS. The TCS BaNCS solution is a world- class multi-asset solution for securities depository, clearing and settlement; and has […]

Capital Market

Dangote Sugar’s Q3 records 236% PAT growth

Ihesiulo Grace 27 October 2017 0

Dangote Sugar Refinery (DSR) Plc has shown commitment to rewarding shareholders remarkably, with impressive growth posted in its third quarter 2017 unaudited result. The company’s result released by the Nigerian Stock Exchange (NSE) on Thursday ,for the period ended 30th September, 2017, showed imposing growth in key performance indices even as sales year on year […]

Capital Market

Access Bank’s Q3 buoyed by reduced provisions, OCI gains

Ihesiulo Grace 27 October 2017 0

Grows earnings to N365bn Access bank Nigeria Plc has given insight into its fourth quarter 2014, with its third quarter 2017 result which showed remarkable lower than expected loan loss provisions and significant other comprehensive income (OCI). Access Bank is a full service commercial bank with headquarters in Nigeria and with operations across Sub-Saharan Africa, […]

Capital Market

Nigerian Breweries pays N1 interim dividend

Ihesiulo Grace 27 October 2017 0

As Q3 PBT/PAT weakened by 84% and 75.13% y/y Nigerian Breweries Plc is poised to reward its shareholders with interim dividend of N1.00 per share for shareholders whose names appear in the company’s register before the date of its closure 16th November , 2017. The company’s third quarter result for the period ended 30th September, […]

Capital Market

Stakeholders call for transparency on claims’ settlements

Ihesiulo Grace 27 October 2017 0

Stakeholders of Nigerian insurance industry have expressed concern on the challenges insurance policy holders encounter when seeking for indemnity of insurance claims, saying that confidence in the industry has remained low. Speaking at insurance public forum organized by Almond Productions limited in Lagos, themed: “Insurance penetration in Nigeria, shifting focus from

Capital Market

Multiverse sustains loss position in Q3 2017

Ihesiulo Grace 26 October 2017 0

Multiverse Mining and Exploration Plc may have given signal of what investors should expect in the 2017 financial year result, with a not so impressive third quarter result released recently. The company’s result for the period ended 30th September, 2017 released by the Nigerian Stock Exchange (NSE), showed weaker than expected result, even as all […]

Capital Market

Oando crisis: Test on market integrity-Stakeholders

Ihesiulo Grace 26 October 2017 0

fears firm may delist from exchange Cross- section of stakeholders in the Nigerian economy and the capital market have expressed mixed feelings on the developments in Oando Nigeria Plc, which they said if not well resolved would cast dent on the integrity of the Nigerian market. They, however ,called on the Securities and Exchange Commission […]

Capital Market

NSE’s ASI sustains growth, record 0.25% increase

Ihesiulo Grace 25 October 2017 0

Equities trading activities on the Nigerian Stock Exchange (NSE) on Wednesday, sustained positive growth with the All-Share Index (ASI) improving further by 0.25 per cent. The ASI rose by 91.23 points or 0.25 per cent to close at 36,622.85 compared with 36,531.62 achieved on Tuesday. In the same vein, the market capitalization, which opened at […]

Capital Market

Learn Africa grows Q3 revenue by 9%

Ihesiulo Grace 25 October 2017 0

…as PBT declines by 17% Learn Africa has shown commitment to growth in its 2017 third quarter 2017 financial statement with growth in revenue, with marked reduction in gross profit and selling/ distribution cost respectively. The company’s result for Q3 period ended 30th September released by the Nigerian Stock Exchange (NSE), showed that revenue grew […]

Capital Market

Lasaco resumes sale of annuities

Ihesiulo Grace 25 October 2017 0

Customers of LASACO Assurance Plc no longer have to worry much about old age and life after retirement as the company has resumed the underwriting of Annuity policies that would make beneficiaries earn salaries for a certain period after leaving office. The insurance giants re-commenced the Annuity businesses in collaboration with its appointed experts, First […]

Capital Market

Market value closes 0.33% higher

Ihesiulo Grace 25 October 2017 0

*Buoyed by banking/ consumer goods stocks Equities trading on the floor of the Nigerian Stock Exchange (NSE) reversed the negative trend on Tuesday, as market value closed upbeat at 0.33 per cent growth, propelled by gains in banking / consumer goods. Market capitalization closed higher at N12.37 trillion, from N12.53trn, which opened trading Tuesday, while […]

Business Capital Market News

We Won’t Obey CBN’s BVN Directive – Bank CEO

Ihesiulo Grace 24 October 2017 0

The Chief Executive Officer of a commercial bank has said that he and his colleagues will be unable to obey the directive of the Federal Government to forfeit customers funds in accounts without the Bank Verification Numbers The Chief Executive Officer of a commercial bank has said the directive by the CBN is not feasible. […]