Fidson Healthcare PlcSHAREHOLDERS of Fidson Healthcare Plc, yesterday, approved proposal by the board of the company to pay 10 kobo dividend, amounting to N150 million for the year ended December 31, 2011. The shareholders who spoke during the company’s yearly general meeting in Lagos yesterday also commended the board for sustaining several growth initiatives despite various challenges.
The company in its Q4'2011 recorded low performance as regards to its profitability posture. The bottom-line of the company plunged by -33.0% to close at N312.25million along with very low profit margin of 4.40%. This further shows weak operating efficiency and poor cost management. Notwithstanding, the company sustained its market share with moderate growth of 39.3% in its turnover.
Vono products Plc says it will continue to place emphasis on remodelling its operational process for optimal growth in market share for its product. Speaking at the company’s 51st Annual General meeting in Lagos, the chairman of the company, Mr. Bashiru Lasisi, said, “Following the recently concluded capital raising exercise, focus will be on facilities upgrade towards improving quality of the company’s products.”
The company in its Q4'2011 recorded unimpressive performance with N86.66million loss along with negative profit margin of -13.0% despite PAT growth of 78.2% recorded. The outlook suggests growing overhead cost in the face of poor cost management and low operating efficiency. On the other hand, the company's top-line recorded above average performance with its turnover growth of 52.4%.
Stanbic IBTC Bank Plc: The shareholders of Stanbic IBTC Bank Plc have approved the resolution on creation of a holding company for the bank and its other non-banking businesses. The holding company, Stanbic IBTC Holdings Plc, was created in line with the revised regulatory framework by the Central Bank of Nigeria, which requires banks to divest from non-core banking businesses or adopt a holding structure.
The company in its Q2'12 records impressive profit margin of 10.96% on the back of strong profitability growth of 29.7% and commendable gross earnings growth of 45.8%- the outlook reveals healthy operational efficiency and cost management posture