Tuesday, July 10, 2012 / The Analyst / Proshare Research

Companies in the NEWS Today – Dangote Sugar Refinery, Fidelity Bank Plc, Dangote Flour Mills Plc and Access Bank Plc

Dangote Sugar Refinery Plc has revealed that production will commence within the week after the refinery was partially affected by fire incident over the weekend. A statement from the company stated, “Fire occurred at the Dangote Sugar Refinery refining plant. The fire, which started at the bagging station about 7pm, was successfully contained within 30 minutes with the combined efforts of the company, Nigerian Ports Authority, Lagos State and Federal Fire Service and others. The incident partially disturbed production activities.



The sugar production firm share price went by -60.21% and -2.58% losses in 2008 and 2009 respectively while +5.96% gains was recorded in 2010. It went down by a whopping -70.63% in 2011 while it has also recorded -15.11% YTD losses. The firm’s Q1 ’12 financials reflects that it recorded positive growths in both turnover and PAT.

Fidelity Bank Plc has concluded plans to aid its e-payment solutions and cashless initiatives following its receipt of a principal license from Master Card Worldwide, which will allow it issue Mastercard solutions to all market segments in Nigeria. A statement from the bank said this move further demonstrates Fidelity Bank’s readiness to make financial services easy and accessible to its customers.



The bank recorded -60.36% and -48.83% losses in 2008 and 2009 respectively while the stock closed 2010 with positive figure of +12.08% gains. It resumed downtrend in 2011 with -45.72% losses witnessed while it has so far recorded -13.70% YTD losses in 2012.

Access Bank Plc: Barely a year after its emergence as the first Nigerian and indeed only bank in West Africa to obtain the Payment Card Industry Data Security Standard Certification, (PCIDSS), Access Bank has again raised the ante in management of security information with its recent certification by the British Standard Institute. The bank has been awarded the ISO 27001, a global standard for information security management, for efficiency of its security management process.



The financial institution recorded -69.26% losses in 2008 while it went up by +7.50% and +25% in 2009 and 2010 respectively. The stock went down by -49.47% losses in 2011 while it has recorded an impressive performance in 2012 with +56.25% YTD gains recorded so far.

Dangote Flour Mills Plc, a Nigerian producer, headed for its highest in more than a month after Tiger Brands Ltd. (TBS) of South Africa agreed to take a majority stake in the miller. The stock rose 4.9 percent to N6.24 as of 12:15 p.m. in Lagos, the commercial capital, set for the strongest close since May 30.



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