Wednesday, June 13, 2012 / The Analyst / Proshare Research

Companies in the NEWS Today – First Bank, Pharma-Deko Plc, Fidelity Bank, Oando Plc, UBA Plc  and MRS Plc
 

First Bank of Nigeria Plc has collaborated with the Convention of Nigerians in Diaspora Organization in the Americas (NIDOA) to provide a forum for addressing social, economic, immigration, and other issues affecting Nigerians living abroad. The partnership was to promote robust socio-economic platform that enhances the well-being of Nigerians in the Diaspora.

The bank’s share price witnessed -1.86% loss in 2008 while it erased part of the losses in subsequent years with  +0.36%, +0.22% and +0.56% gains witnessed in 2009, 2010 and 2011 respectively. The stock currently records -1.04% losses in 2012 with positive growth also recorded in its Q1 2012 financials. The news on the partnership to promote socio-economic platform that will enhance the well-being of Nigerians in Diaspora will not have direct impact on the stocks share price. This stock was in the news yesterday. 

UBA Ghana Limited, a subsidiary of United Bank for Africa Plc, Africa ’s global bank, has emerged the topmost player in the Ghanaian banking industry. The bank was adjudged ‘Best Bank in Short term Loan Financing’ even as it scooped several awards at the recently held Banking Awards in Ghana.

The stock recorded +1.54% and +0.93% YoY gain in 2008 and 2009 respectively while it closed flat in 2010. It further recorded upwards movement in 2011 with +4.86% gains recorded with +0.54% YTD gain witnessed in 2011. The Bank has been in the media in the last two days

Fidelity Bank Plc has continued to re-engineer its processes in line with the Central Bank of Nigeria (CBN) cash-limit policy which came into effect from January 2012. The bank has re-aligned its internal business structure to deliver service experience.

The financial outfit recorded +3.76% and +3.90% price appreciation in 2008 and 2009 while it closed flat in 2010. 2011 witnessed -1.35% declines in share price as the stock currently records -3.23% losses in 2012. In its Q1 2012, the stocks recorded positive growth in gross earnings and PAT while the growth in customer base witnessed by the bank will surely increase its revenue base.

Energia/Oando Joint Venture, in partnership with another indigenous technical company, Xenergi have installed a 25 million standard cubic feet per day (mmscfd) gas processing plant in its field as part of Federal Government’s strategic objective to stamp out gas flares as well as monetizing gas resources.

The stock share recorded -0.16% in 2008 while it closed flat the following year. It further went down by -0.75% in 2010 while the stock recorded +4.76% gain in 2011 with -0.65% YTD loss witnessed so far in 2012. In its Q1 2012 result, the company recorded positive in turnover while negative growth was recorded in PAT.

MRS Oil Plc made public its unaudited figures for the three months (Q1) ended March 31st 2012, showing that MRS posted 9.1% revenue growth YoY  to N19.2 billion; 6.36% above the company’s forecast for the period.

The stock witnessed -1.51% loss in 2008 while it closed flat in 2009 and 2010. It further went down by -2.75% in 2011. It has recorded -4.99% YTD loss in 2012. The oil firm recorded positive turnover growth and negative PAT growth in its Q1 2012 financials.

 

Pharma-Deko records 155% and 109% growth respectively in turnover and PAT as the firm may seek injection of fresh equity funds by way of rights issue. Its Chairman, Folarin Williams said the erosion of the Shareholders fund, which started five years ago was halted and a positive of 4% was recorded.
 

The share price of the pharmaceutical firm closed unchanged in all the periods of review while the 2011 Audited result of the company shows that it recorded positive growth in turnover and PAT. The growth recorded by the company in balance sheet and the intention to float a rights issue may have direct and positive impact on the stocks share price as potential investors might want to take position while existing investors too may use the opportunity to increase their stake in the company.
 

For further information or submission of company market news for daily analysis – kindly contact analyst@proshareng.com 

Disclaimer: All caveats in the terms and conditions for use of this service applies.