Get all the latest information on businesses and companies in Nigerian Stock Exchange.

UBA’s New York branch fined $15million for breaking money laundering rules.

Share/Save

R.T BRISCOE (NIGERIA) PLC
1ST QUARTER RESULTS FOR THE PERIOD ENDED 31ST MARCH 2008

TURNOVER  08 N4.354b,       07 N3.836b
PBT             08 N267.551m,  07 N219.901m
TAXATION  08 (N85.616m)   07 (N70.368m)
PAT            08 N181.935m,  07 N149.533m

Share/Save

NIGERIAN AVIATION HANDLING COMPANY PLC,
UNAUDITED ACCOUNTS FOR THE PERIOD ENDED 31ST MARCH 2008 TURNOVER 08 N1.218b, 07 852.742m

PBT     08 N306.715m,  07 N167.658m
TAXA  08 (N98.149m)  07 (N53.651m)
PAT    08 N208.566m,  07 N114.007m

Share/Save

CCNN (Cement Company of Northern Nigeria)PLC
1ST QUARTER RESULTS FOR THE PERIOD ENDED 31ST MARCH 2008

GROSS REV                  07 N2.535b        08 N2.191b
PRODUCTION COST    07 N1.799b,       08 N1.467b
GROSS PROFIT            07 N404.897m,   08 N446.351m
SALES/ADMIN COST   07 N324.512m,   08 N318.721m
NET P(Loss)AT           07 (N18.267m)    08 N135.321m

Share/Save

UNILEVER NIGERIA PLC, RESULT FOR 3 MONTHS ENDED 31 MARCH 2008

TURNOVER        08 N9.690b,   07 N8.290b
PBT                   08 N1.582b,   07 N441m
TAXATION       08 (N506m)    07 (N141m)
PAT                  08 N1.076b,   07 N300m

Share/Save

STACO INSURANCE PLC, AUDITED ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2007

TURNOVER      07 N2.813b,        06 N1.636b
PBT                 07 N868.177m,   06 N546.905m
TAXATION      07 (N110.194m)   06 (N55.442m)
PAT                07 N757.982b,     06 N491.462m

PROPOSED DIVIDEND 12K

Share/Save

LAFARGE CEMENT WAPCO NIGERIA PLC, UNAUDITED FIRST QUARTER ENDED 31ST MARCH 2008

TURNOVER        08 N11.030b,    07 N9.525b

PBT                    08 N2.290b,     07 N3.111b

TAXATION        08 (N344m)       07 (N467m)

PAT                  08 N1.946b,      07 N2.644b

NOTE: OPERATING PROFIT WAS ADVERSLY IMPACTED BY INCREASED COST OF SALES AS A RESULT OF THE USE OF IMPORTED CLINKER.THE IMPORTED CLINKER BECAME NECESSARY IN ORDER TO LIMIT THE IMPACT ON PROPOFITABILITY.SINCE MID-MARCH 2008 NATURAL GAS SUPPLY TO OUR PRODUCTION FACITILIES HAS BEEN STABLE.

Share/Save

INTERNATIONAL BREWERIES PLC, AUDITED ACCOUNT FOR THE YEAR ENDED DECEMBER 31ST 2007

TURNOVER                           07 N561.668m,        06 N313.047m
EXCEPTIONAL ITEMS            07 (N91.296m)         06 (N143.010m)
LOSS/ BEFORE TAXATION    07 (N118.214m)       06(361.360m)

Share/Save

ECOBANK NIGERIA PLC
AUDITED ACCOUNT ENDED DECEMBER 31, 2007
GROSS EARNINGS     07 N32.709b,     06 N17.258b
PBT                          07 N10.096b,    06 N5.011b
TAXATION               07 (N2.646b)    06 (N1.453b)
PAT                         07 N7.449b,        06 N3.558b
PRPOSED DIVIDEND /SHARE 24K

Share/Save

Here are different reports, reviews and analysis of the NSE by FSDH, Meristem, and Zenith for the week that just ended.

FSDH

Zenith

Meristem

Share/Save

Zenith Bank to lauch 3 mutual funds - Zenith Equity Fund, Zenith Income Fund and Zenith Ethical Fund.

They will be joining other banks such as IBTC, ARM, and Oceanic Banks in the mutual fund business.

My main issue with these mutual funds is that there is little information on their performance, price history and costs.

Share/Save

You can review the FSDH weekly market review here .

They had an interesting article on whether the banks were making too much profit. My personal opinion is that they do. They are declaring some very ridiculous profits these days and it is hard to justify how they are making these huge sums.

They reviewed a speech by the CBN president, Dr Soludo who categorically stated that the banks aren’t making too much money as their returns on equity is still relatively small.
Dr Soludo blamed the high lending rates on:
- high cost of funds
- risks involved in borrowing
- uncertainty about future inflationary trends
- poor infrastructure which increases the banks’ operating costs
- high overhead costs

The speech by Dr Soludo can be downloaded here .

FSDH’s opinion is that though banks arent making too much profit, they arent financing the real sector of the economy adequately due to the poor state of infrastructure in the economy which makes borrowing cost higher than it should be. They also stated that improvement in the infrastructure is the key to accelerating growth in the real sector of the economy.

Share/Save