Friday, June 22, 2012 / The Analyst / Proshare Research
 

Companies in the NEWS Today – Julius Berger Plc, UAC of Nigeria Plc, Zenith Bank Plc, Ecobank Nig Plc, Capital Hotels Plc, Unity Bank Plc and Learn Africa Plc

Julius Berger Nigeria Plc is to pay out dividends worth of N2.88 billoion to its shareholders for the financial year ended 2011. The 42^nd yearly general meeting took place yesterday in Abuja as shareholders approved the sum earlier recommended by the Board of Directors, headed by AVM (Dr.) Mohammed Nurudeen Imam.

The construction firm share price recorded -34.30% and -53.62% in 2008 and 2009 while the loss was completely erased in 2010 with +93.87% gains recorded. The stock resumed downtrend in 2011 with -36.80% loss witnessed while -7.97% YTD loss has been recorded so far in 2012. The dividend paid by the company can encourage other investors to take position in the stocks.

UAC Nigeria Plc said it earned N5.7 billion from the sale of its stake in one its subsidiaries to South African firm —Tiger Brands Limited. The company had sold 49 per cent of its 100 per cent stake to Tiger Brands as parts of its restructuring programme, after securing the approval of its shareholders, last year, to proceed with the sale. In the light of the company’s financials, the chairman, Senator Udoma Udo Udoma disclosed that “due to rising material and other operational costs and the inability to recover such costs through price increases, the business had challenges in margins.”

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. 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.

Zenith Bank Plc and Ecobank Transnational Incorporated have emerged top among highly rated West African companies listed for an award ceremony by Forbes Africa holding in Lagos soon. ‘The Top Listed West African Companies” was a celebration of the success of risk takers and job creators.

The bank’s share price went down by -52.27% and -38.18% in 2008 and 2009 while it closed uptick in 2010 with +10.37% gains. The appreciations was completely erased in 2011 as the stock records -18.85% loss while it records +12.48% YTD gain in 2012.

Capital Hotel Plcshareholders have approved a seven kobo per share dividend payout for its shareholders for the year ended December 31, 2011. The dividend proposed by the directors of the board, which is to be paid on the 5th of July, represents a slight drop from the 7.50 kobo per share paid out in 2010.

The hospitality firm’s share price closed flat in 2008 while it records -78.77% loss in 2009. It resumes uptrend in 2010 with a whopping +139.13% gains witnessed and further went up by +105.45% in 2011. The stock has so far recorded -1.03% YTD losses in 2012 while the company in its Q1 2012 financials recorded negative turnover and PAT growth.

Unity Bank of Nigeria Plc says it has reached an advanced stage to raise tier 1 capital in order to boost its operations. The Managing Director, Mr. Ado Wanka, Thursday said that the move would help to enhance the bank’s long term solvency and financial stability.

The stock price went down by -67.50% and -70.63% in 2008 and 2009 while +42.86% gains was recorded in 2010. 2011 saw -54.17% loss as the 2012 YTD performance stands at -9.09% loss and the price currently trading at 0.50k nominal value.

Ecobank Nigeria Plc just unveiled a new product named ‘Ecobank Mobile Money’. According to the bank, the product is specially designed to deepen financial inclusion for all classes of Nigerian citizens, especially those in the rural and semi-urban areas. The management says this has also been designed in a bid to promote the cash-less policy.  

The stock recorded a whopping +251.70% gains in 2008 while it went down by -61.98%, -66.13% and -45% in 2009, 2010 and 2011 respectively. The stock has remained flat in 2012 while it also recorded positive growths in Q3 2011 latest available financials.

Learn Africa Plc has declared a turnover of N2.92bn for the financial year ended December 31, 2011, an increase by 18 per cent when compared with the preceding year. The company’s profit before tax rose by 16 per cent to N382.8m in the review period, from N328.8m in 2010, while shareholders’ funds increased marginally by one per cent to N3.44bn.

The publishing firm records +54.22% gains in 2008 while it recorded -67.47% and -19.16% losses in 2009 and 2010. It went down further by -59.59% loss in 2011. In 2012, the stock records -18.64% YTD loss so far with positive growths witnessed in its Q1 2012 results.
 

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