Anjan Dey resigns as a director from the board of Prestige Assurance Plc

The Board of Prestige Assurance Plc has announced the resignation of Mr. Anjan Dey from its Board as a Non-Executive Director, effective from 27th of July, 2021.

The announcement was made in a statement signed by the Acting Secretary of the company, Chidinma Ibe-Louis, which reads: ‘’Prestige Assurance Plc (the Company) wishes to inform the Nigerian Exchange Limited (NGX), its shareholders and investing public that Mr. Anjan Dey, a Non-Executive Director of the company, has resigned from the Board, effective 27th July, 2021.’’

Recall that few weeks back, the company also announced the retirement of another Non-Executive Director, Mr. Gopalan Raghu, from its board effective from 28th of April, 2021. Mr. Raghu retired from his position after over nine years of meritorious service to the board.

What you should know about Mr. Anjan Dey

  • Anjan Dey is an astute Insurance Professional, who has cut an edge in insurance underwriting, marketing and new products development.
  • He joined the parent company of Prestige Assurance (The New India Assurance Company Limited) as direct recruit on 1st of July, 1986. He rose through the ranks to become the country Head for New India Assurance Co. Ltd, Aruba, Dutch Caribbean from the year 2000 to 2005. He held the unique position of Chief underwriter for the Regional office and as well served as Member of Regional Claims Committee from 2005 to 2008.
  • He is a first class graduate from university of Allahabad and holds a post graduate degree from Monirba-Premier Institute under University of Allahabad with specialization in Marketing Research and management. He is also an Associate of Insurance Institute of India.
  • He was appointed into the board of Prestige Assurance on 29th of July, 2019.

As at the period of reporting this, Prestige Assurance share price trades at 45 kobo on the floor of the Nigerian Exchange Limited (NGX).

 

Nigerian Aviation Handling Company grows half year profit by 453% to N504.9 million.

Nigerian Aviation Handling Company Plc released its unaudited financial results for the period ended June 30, 2021.

  • Revenue for the period was N4.71 billion. (+31.8% YoY)
  • Operating costs of N2.96 billion. (+11.8% YoY)
  • Administrative expenses totalled N1.24 billion. (-5.8% YoY)
  • Profit after tax was N504.9 million. (+452.6% YoY)
  • Earnings per share of 30 kobo. (+233.3% YoY)
  • Total assets for the period stood at N14.8 billion.

See link to results.

Ardova Plc posts N1.78 billion profit in Half Year 2021.

Ardova Plc released its unaudited financial results for the period ended June 30, 2021.

  • Revenue for the period was N86.8 billion. (-0.62% YoY)
  • Cost of sales was N79.4 billion. (-3.1% YoY)
  • Administrative expenses totalled N3.49 billion. (+6.2% YoY)
  • An operating profit of N2.65 billion was recorded.
  • Profit for the period was N1.78 billion. (+75.9% YoY)
  • Earnings per share of N1.36 Vs 78 kobo YoY.

See link to results.

Julius Berger Nigeria profit after tax surge by 346% to N4.76 billion in HY 2021.

Julius Berger Nigeria Plc released its unaudited financial results for the period ended June 30, 2021.

  • Revenue for the period was N146.31 billion. (+43.4% YoY)
  • Cost of sales was N118.9 billion. (+42.6% YoY)
  • Administrative expenses totalled N17.8 billion. (+13% YoY)
  • An operating profit of N10.4 billion was recorded.
  • Profit after tax for the period was N4.76 billion. (+346.3% YoY)
  • Earnings per share of N3.01 Vs N0.01 YoY.

See link to results.

Northern Nigeria Flour Mills Plc grows profit by 21% to N82.9 million in Q1 2021.

Northern Nigeria Flour Mills Plc released its unaudited financial results for the first quarter of the year ended June 30, 2021.

  • Revenue for the period was N3.56 billion. (+87% YoY)
  • Cost of sales was N3.25 billion. (+88.3% YoY)
  • Administrative expenses totalled N170.7 million. (+106.4% YoY)
  • An operating profit of N147.9 million was recorded. (+25.05% YoY)
  • Profit after tax for the period was N82.9 million. (+20.96% YoY)
  • Earnings per share of 46 kobo Vs 38 kobo YoY.

See link to results.

JAIZ Bank Plc posts profit after tax of N2 billion in half year 2021.

JAIZ Bank Plc released its unaudited financial results for the half year period ended June 30, 2021.

  • Gross Income for the period was N11.65 billion. (+45.5% YoY)
  • Fees and commission income of N646.06 million. (-12.2% YoY)
  • Operating expenses totalled N6.56 billion. (+34.3% YoY)
  • Profit after tax for the period was N1.999 billion. (+83% YoY)
  • Earnings per share of 6.78 kobo Vs 3.98 kobo YoY.

See link to results.

Nigerian Breweries Plc reports a 38% increase in profit to N7.7billion in Q2 2021.

Nigerian Breweries Plc released its unaudited financial results for the second quarter of the year ended June 30, 2021.

  • Revenue for the period was N209.3 Billion. (+37.8% YoY)
  • Cost of sales was N131.3 billion. (+41.7% YoY)
  • Marketing, distribution and administrative expenses totalled N58.63 billion. (+32.0% YoY)
  • Profit for the period was N7.72 billion. (+38.1% YoY)
  • Earnings per share of 96 kobo Vs 71 kobo YoY.

Commenting on the results, the Board said: ‘The impact of Coronavirus (Covid-19) pandemic on the economy and by implication, the Company, continued during the period under review. Our priority remained protecting the health, safety and welfare of employees, customers and partners. We regularly monitored and evaluated the Company’s financial position and performance in the light of the pandemic; our Balance Sheet remained strong. The focus of the Board and Management continues to be the mitigation of the impact of the pandemic on the business.’’

 

See link to results.

The Initiates Plc reports a loss of N61.7 million in HY 2021.

The Initiates Plc released its unaudited half year results for the period ended June 30, 2021.

  • Revenue for the period was N120.23 million. (-51.2% YoY)
  • Direct cost of N96.07 million. (-47.6% YoY)
  • Total assets for the period stood at N1.05 billion. (-7.6% YoY)
  • Loss for the period was N61.07 million.
  • Earnings per share of 0.07 kobo Vs -0.01 kobo YoY.
  • Return on assets of 0.12% Vs 0.22% YoY.

See link to results.