Consolidated Hallmark Insurance Plc says its decline in its Profit after Tax (PAT) of Q1, 2012 is related to the bad debts it has had to settle, in line with regulatory directives. The MD/CEO, Eddie Efekoha explained to Proshare WebTV at the recent 17thAnnual General Meeting of the Insurance firm that the bad debts arose from the operations costs as well as the capital market. He ascertained that better performances are on track.
The insurance outfit share recorded -44.85% and -53.27% in 2008 and 2009 respectively while it closed flat in 2010 and 2011. The stock price remained unchanged in 2012 as it currently trades at 50k nominal value. The outfit recorded negative growths in its Q1 2012 results.
UAC of Nigeria Plcsays to aid profitability in the 2012 Financial Year End (FYE), has expressed optimism on the company’s ability to conclude its market expansion and restructuring plans during the year, as it declares a dividend payout of 150 kobo for 2011. Chairman of the company, Senator Udoma Udo Udoma has stated that despite the difficult business environment in which the company operated in 2011, it recorded a growth of 21.6 per cent in its turnover from N52.3 billion in 2010 to N63.6 billion in 2011.
The Consumer Goods firm recorded -32.16% loss in 2008 while parts of the losses were erased in 2009 and 2010 with +6.21% and +2.07% gains witnessed while 2011 saw decline of -16.88%. in 2012, the stock has recorded +5.07% gains with positive growths also recorded in its Q1 2012 financials.
Skye Bank Nigeria Plc recently engaged its awardees of the Youth EnterpriseWith Innovation in Nigeria (YouWin) in a customer engagement and enlightenment forum. The bank explained that this was done in order to help develop the entrepreneurial and managerial skills of the awardees. The YouWin scheme is an entrepreneurial programme set up by the Federal Government young entrepreneurs with excellent business plans and ideas as part of the government’s effort to create wealth and reduce unemployment.
Skye Bank Plc recorded -50.03% loss in 2008 ad it further went down by -36.09% in 2009. It witnessed an impressive performance in 2010 with +60.29% gains recorded while the appreciations were erased in 2011 with the share price recording -56.36%. The financial institutions has recorded -24.48% YTD loss in 2012 but has witnessed positive growths of +12.6% in gross earnings and +12.49% in PAT.
Ecobank Group (ETI) said it has integrated all its existing subsidiaries into a single point of contact with the intent on delivering a seamless customer brand experience across the network.
The Pan-African Bank recorded a whopping -81.29% loss in 2008 and also went down by -63.05% in 2009. The stock recorded +4.67% gains in 2010 while 2011 saw another loss of -33.12%. The stock has so far +1.90% gains in 2012 with positive growth recorded in gross earnings while negative growth was recorded in PAT.
Chemical and Allied Products (CAP) Plc manufacturers of Dulux paints have provided a N10 million project to the first orphanage in the country, the Nigerian Red Cross Orphanage for motherless and abandoned babies home, Lagos. The project which was provided under the corporate social responsibility of the company involves the facelift and repainting of the orphanage.
The Chemical firm recorded -37.03% and -30.52% in 2008 and 2009 respectively while it went up by +21.54% in 2010. 2011 saw price decline of -57.39% with +21.39% YTD gain witnessed so far in 2012.
Transcorp Plc, owners of Transcorp Hilton Hotel, Abuja, has expressed its commitment to actualise the second phase of its post-acquisition plan in the Share Purchase Agreement (SPA) with the Bureau of Public Enterprises (BPE). The second phase involves recapitalisation, service portfolio/facilities expansion, new business development, brand spread, market dominance, regional presence and global affiliations.
The share price of Transcorp Plc declined by -74.84% and -36.71% in 2008 and 2009 while it closed flat in 2010. The stock recorded price appreciation of +14% in 2011 while it has recorded +115.79% gains in 2012. The firm’s 2011 Audited result shows that it recorded positive growth in turnover and negative growth in PAT.
GlaxoSmithKlime Consumer Nigeria Plc, has launched a new advanced formula Sensodyne with more fluoride, more mint and less abrasion. The improved Sensodyne was unveiled to the expert community at the National Conference of the Nigerian Dental Association (NDA), which took place recently in Lagos.
The healthcare firm share price closed flat in 2008 and 2009 while it recorded +16.07% price appreciations in 2010. Parts of the gain were erased in 2011 with -11.54% loss recorded in 2011 while the stock has recorded -6.52% YTD loss in 2012.
First Bank Nigeria Plcis sponsoring From Passion to Portfolio, a new series of short-form films on CNN International that will focus on individuals whose hobbies have evolved into profitable investments. The series, which will appear in commercial airtime on CNN International, follows a wide variety of people from across the globe, examining how their commitment and drive in doing what they truly love have helped them achieve business success.
The bank’s stock closed negative throughout the periods of review as it records -52.77%, -33.44%, -2.28% and -35.18% in 2008, 2009, 2010 and 2011 while it has recorded positive YTD performance of +22.81% in 2012 so far. The company recorded positive growths in gross earnings and PAT in its Q1 2012 financials.
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