Author: Blurb

2020 FY Results: United Capital posts N7.8 billion profit.

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United Capital Plc released its full-year 2020 audited results for the year ended December 2020.

  • Gross Earnings during the year was N12.98 billion. (+50% YoY)
  • Net operating income was N12.49 billion. (+58% YoY)
  • Total expenses of N4.93billion. (+35% YoY)
  • Profit before tax was N7.95 billion. (+61% YoY)
  • Earnings per share N1.30 vs 83 kobo. (+57% YoY)
  • Total shareholders fund was N24.43billion. (+25% YoY.)
  • A dividend of 70 kobo was proposed. (+40% YoY)

See link to results.

2020 FY Results: AIICO Insurance Plc reports a 20% increase in profit for the year.

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AIICO Insurance Plc released its full-year results for the year ended December 2020.

  • Net Premium Income of N52.79 billion. (+21% YoY)
  • Net claims incurred was N31.66 billion. (+25% YoY)
  • The Company reported an Underwriting loss of N35.44 billion.
  • Profit before tax was N6.27 billion. (+5% YoY)
  • Earnings per share 43 kobo vs 83 kobo. (-48% YoY)
  • The shareholders’ fund of the company was N35.25 billion (+27% YoY)

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2020 FY Results: JAIZ Bank posts N2.51 billion profit after tax

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Jaiz Bank Plc released its full-year results for the year ended December 2020.

  • Gross income was N18.76 billion. (+38.8% YoY)
  • Total expenses was N9.86 billion. (+15.4% YoY)
  • Profit before tax was N2.79 billion. (+32.05% YoY)
  • Profit after tax was N2.51 billion. (+2.7% YoY)
  • Earnings per share was N9.46 (+32.1% YoY)
  • No dividend announcement was made in their press release.

See link to results.

LASACO Assurance Plc boosts Profit after tax by 147%

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LASACO Assurance Plc released its full-year results for the year ended December 2020.

  • Net premium income was N6.28billion. (+6.3% YoY)
  • Underwriting profit declined to N1.73 billion. (-24.8% YoY)
  • Profit before tax increased to N927.34 million. (+166.7% YoY)
  • Earnings per share increased to 11 kobo. (+175% YoY)
  • The Shareholders’ Fund of the Company increased to N8.99 billion (+9.95% YoY)
  • Net asset per share increased to N1.23 (+10.8% YoY)

See link to results.

2020 FY: UBA posts N113.77 billion profit after tax as earnings per share prints at N3.20

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United Bank for Africa Plc released its full-year results for the year ended December 2020.

  • Net Interest Income after adjusting for impairments was N232.46 billion. (+14.2% YoY)
  • Profit before tax was N131.86 billion. (+18.5% YoY)
  • Earnings per share of N3.20 vs N2.52. (+27.0% YoY)
  • Deposits from customer was N5.68 trillion (+48.1% YoY)
  • Loans and advances to customer was N2.55 trillion (+23.96% YoY)
  • A final dividend of N0.35 was proposed. (-56.25% YoY)

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2020 FY Results: Champion Breweries Plc reports a revenue growth of 1.80% in 2020

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Champion Breweries Plc released its audited results for the year ended 31st December 2020.

  • Revenue for the year was N7.05 billion. (+1.80% YoY)
  • Operating expenses during the year was N1.58 billion. (-9.56% YoY)
  • Profit for the year summed N158.79 million. (-5.77% YoY)
  • Earnings per share at the end of the year was 2kobo.
  • The Board of Directors made no dividend recommendation.
  • The company share price closed at N1.84k on March 8, 2021, appreciating by 113.95% YTD.

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Seplat falls into a loss in FY 2020

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Seplat Petroleum Development Company Plc released its full-year 2020 results.

  • Revenue for the period was N190.92 billion. (-10.85% YoY)
  • Operating expenses during the year was N79.34 billion. (+116.82% YoY)
  • The company reported a loss after tax of N30.71 billion. 
  • It reported a loss per share of N46.42 in the 2020 full year.
  • The Board recommended a final dividend of N19 per share.
  • The company share price is trading at 539.9 ( 34.20% YTD).

See link to results.

2020 FY Results: Cornerstone Insurance Plc reports a 61.1% decline in profit

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Cornerstone Insurance Plc has released its full-year results for the year ended December 2020.

  • Net premium income of N5.88 billion.(-10.7% YoY)
  • Profit before Tax was N1.67 billion. (-58.5% YoY)
  • Net claims for the year was N3.47 billion (+13.2% YoY)
  • Underwriting profit was N1.93 billion (-27.6% YoY)
  • Profit for the year was N1.6 billion. (-61.1% YoY)
  • Earnings per share printed at 11 kobo. (-60.7% YoY)
  • A dividend of 45 kobo was declared.

See link to the result