HONEYWELL Flour Mills Plc has unfolded plans to expand its production capacity, in a bid to accommodate increasing demand for the company’s products. The disclosure was made at the company’s yearly customers’ forum, in Lagos, where outstanding distributors were rewarded for their performance in the last financial year.
The stock recorded -40% and -54.71% losses in 2010 and 2011 respectively. It has so far recorded -12.99% YTD losses in 2012 while the firm records positive turnover and PAT growths in its Audited 2012 financials. First Bank of Nigeria Plc (FirstBank) has concluded plans to migrate its current core banking application, Finacle 7 to a more robust and secure platform, Finacle 10. The bank’s management said that this upgrade from Finacle 7 would transform its service delivery process and facilitate the introduction of innovative products specially designed for different customer segments.
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 +26.52% in 2012 so far. The company recorded positive growths in gross earnings and PAT in its Q1 2012 financials. Dangote Sugar Refinery Plc says despite the ‘minor’ fire incidence at its bagging store recently, the company will improve in its performance in the 2012 financial year. Managing Director of the company, Abdulahi Sule, was quoted as saying that the fire incidence was not expected to lead to scarcity of sugar, adding that the impact of the fire was minimal and “the refinery has strategic reserve which could last for two months even if it does not produce at all.
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. Regency Alliance Insurance Plc Chairman, Justice A.G. Kabiri-Whyte (rtd.) has assured shareholders of the company that Regency Alliance will continue to weather the storms notwithstanding the harsh economic climate as gross premium income for 2011 was N2.023 billion as against N1.803 billion in 2010. Karibi-Whyte at the Annual meeting of the Regency Alliance says there are prospects for innovation, growth and expansion for the firm.
The Insurance outfit recorded -60.11% and -31.51% losses in 2008 and 2009 while it closed flat in 2010 and 2011 at the nominal value of 0.50k. The stock remained at 0.50k in 2012 as its share price remained unchanged. The company recorded positive growth of +54.3% in gross premium and +4.6% growths in PAT in Q1 2012. Sovereign Trust Insurance Plc has in a bid to further penetrate the insurance market and extend its services to other areas of the country opened two more branches for operations in Ilorin, the capital of Kwara State and Osogbo in the South-West region of Nigeria. The move, according to the management of the company is expected to take the product offerings and services of the organisation closer and accessible to the insuring public in these climes of the country.
The insurance outfit recorded price decline of -72.34% and -57.26% in 2008 and 2009 respectively while it closed flat in subsequent years. The stock currently trades at the nominal price of 50k while it has recorded flat position so far in 2012. The firms declared positive growths in its Q1 ’12 results and, if sustained, can encourages potential investors to take position in the stock. AIICO Insurance Plc has said that it will pay a total dividend of N415.8m dividend to its policyholders during its 2011 financial period. In a statement on Friday, the Chairman of the company, Dr. Dele Fajemirokun, stated this during the firm’s 42nd Annual General Meeting in Abuja. Fejemirokun noted that despite the global economic downturn, domestic challenges, widespread insecurity and weak infrastructure, the company was able to take advantage of the available opportunities.
The stock closed with -47.81% and -55.87% losses in 2008 and 2009 respectively while positive performance was recorded in 2010 with +13.92% price appreciation. The stock resumed downtrend in 2011 as it closed the year with -44.44% losses. Flat position has recorded in so far in 2012 while the stock currently trades at 50k nominal value. Niger Insurance Plchas disclosed the motives behind its recent financials, the chairman says, “Our investment portfolios have been re-aligned in conformity with the present economic situation. Be that as it may, the former investment department has been enlarged and renamed Treasury and Investment Department with a senior management staff as the new head. “We are also pleased to inform our shareholders that our recent move to inject fresh funds via the capital market came out successful with over 75 per cent subscribed.”
The Insurance outfit’s stock closed negative throughout the periods of review as it records -51.49%, -70.15%, -38.14% and -16.67% in 2008, 2009, 2010 and 2011 while it has recorded positive YTD performance of +22.00% in 2012 so far. The company recorded negative growths in its gross earnings and positive PAT growths in its Q4 2011 financials. C & I Leasing Plc has said it is seeking various alternative options to finance its operations and will firmly pursue the alternative of issuing a bond before the close of the second quarter. The utilization of the proceeds of the bonds include, refinancing some of the company’s lease lines, expansion of lease investments and improvement in information technology.
The leasing firm records +27.03% gains in 2008 while a whopping -326.92% losses were recorded in 2009. The stock further went down by -69.93% and -142.86% in 2010 and 2011 in that order. In 2012, it has recorded -26% YTD losses as the price trades at 50k nominal value.
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