Author: Chidi Emenike

Infinity Trust Mortgage Bank grows profit after tax by 52% to N447.1 million in 9M 2021.

Chidi Emenike Leave a comment

Infinity Trust Mortgage Bank Plc released its unaudited financial results for the nine months period ended 30th of September, 2021.

  • Turnover for the period stood at N1.24 billion. (+24.3% YoY)
  • Net fee and commission income of N83.4 million. (+5.6% YoY)
  • Operating income totalled N1.06 billion. (+23.7% YoY)
  • Operating expenses totalled N555.4 million. (+2.8% YoY)
  • Total assets during the period stood at N15.6 billion.
  • Profit after tax was N447.1 million. (+52.3% YoY)
  • Earnings per share of 13.29 kobo Vs 8.37 kobo YoY.

See link to results.

 

2021 9M Results: LivingTrust Mortgage Bank grows profit by 372% to N533.3 million.

Chidi Emenike Leave a comment

LivingTrust Mortgage Bank Plc released its unaudited financial results for the nine months period ended 30th of September, 2021.

  • Gross Earnings for the period stood at N1.12 billion. (+164.7% YoY)
  • Net fee and commission income of N123.96 million. (+175.6% YoY)
  • Operating income was N967.8 million. (+149% YoY)
  • Operating expenses totalled N416.8 million. (+54.6% YoY)
  • Total assets during the period stood at N10.51 billion.
  • Profit for the period stood at N533.3 million. (+372.3% YoY)
  • Earnings per share of 10.7 kobo Vs 5 kobo YoY.

See link to results.

 

Caverton Offshore Support Group Plc. announces board meeting, closed period ahead of Q3 2021 results.

Chidi Emenike Leave a comment

Caverton Offshore Support Group Plc has notified the Nigerian Exchange Limited (NGX), its shareholders and all interested parties of its imminent Board of Directors Meeting scheduled to hold on Thursday, 28th of October, 2021.

According to a notice signed by the company’s secretary, Amaka Obiora, the meeting will enable the board members to consider and approve the firm’s unaudited financial statement for the third quarter ended 30th of September, 2021.

Consequently, the firm commenced a closed period for trading in its shares on Friday, 1st of October, 2021. The closed period will persist until 24 hours after the unaudited account of the company for the aforementioned period have been filed with The Exchange (NGX) and made public.

It is pertinent to note that during the closed period, directors, managers, consultants, employees of the company and their associated persons are strictly prohibited from transacting in the company’s shares (that is, buying or selling in the company’s shares).

Attached HERE is a link to the notice.

2021 9M Results: United Capital Plc grows profit after tax by 72% to N5.97 billion.

Chidi Emenike Leave a comment

United Capital Plc release its unaudited financial statements for the nine months period ended 30th of September, 2021.

  • Gross earnings for the period totalled N11.33 billion. (+60.3% YoY)
  • Fee and commission income of N4.77 billion. (+112.1% YoY)
  • Net operating income was N11.08 billion. (+63.9% YoY)
  • Total expenses were N4.24 billion. (+43.8% YoY)
  • Total assets for the period stood at N400.75 billion.
  • Profit for the period was N5.97 billion. (+72.2% YoY)
  • Earnings per share of 133 kobo Vs 77 kobo YoY.
  • Total shareholders’ fund for the period stood at N26.9 billion.
  • Cost to Income Ratio of 37.4% Vs 41.67% YoY

Commenting on the results, the Group CEO of United Capital Plc, Mr Peter Ashade said: ”I am pleased to inform our stakeholders that United Capital ended the third quarter of the year with another outstanding performance. We delivered an increased revenue of 60% year-on-year, PBT growth of 72% year-on-year to N7.09b and total asset growth of 80% year-to-date.

”During the period under review, United Capital successfully listed three series commercial papers worth N19.72 billion on the FMDQ Securities Exchange. The CPs were issued under the company’s N50 billion commercial paper issuance program. This has further positioned us as a company to provide a wider range of wholesale financing solutions to our clients and complement funding base and support for all our businesses.

”Another remarkable point to note was the Nigerian Stock Exchange’s reclassification of United Capital shares from Low Price Stock Group to Medium Price Stock Group in August 2021 driven by steady growth in the company’s share price over the past months due to our consistent impressive performance over the years.

”I want to assure our stakeholders that we are optimistic on sustaining this exciting performance in the last quarter of the year and beyond. We remain focused on our transformation agenda and to continue to provide best-in-class solutions to all client segments. We are also committed to deliver superior returns as we seek to always delight our shareholders.”

See link to results.

Meyer Plc grows profit by 109% to N9.5 million in 9M 2021.

Chidi Emenike Leave a comment

Meyer Plc released its unaudited financial statements for the nine months period ended 30th of September, 2021.

  • Revenue for the period was N759.2 million. (+34% YoY)
  • Cost of sales was N504.7 million (+40% YoY)
  • Administrative expenses totalled N323.4 million. (-8% YoY)
  • Total assets for the period stood at N2.05 billion
  • Profit for the period was N9.47 million. (+109% YoY)
  • Earnings per share of 2 kobo. (+110% YoY)

See link to results.

Lotus Halal Fixed Income announces dividend of N22 per unit for Q3 2021.

Chidi Emenike Leave a comment

Lotus Capital Limited has declared its Q3, 2021 dividend distribution of N22/unit to unit holders in the Lotus Halal Fixed Income Fund, whose names appear on the company’s register as at Thursday, October 14, 2021.

This is according to a notification issued by the firm to its unit holders, as seen by Nairametrics.

Accordingly, payment will be made by the Fund Manager of the Lotus Halal Fixed Income Fund on Tuesday, October 19, 2021

The recent declaration raises the total amount of dividend distributed under this category of investment; Lotus Halal Fixed Income Fund, to N62.85 per unit, since the beginning of this year. Recall that firm had earlier paid its fixed income fund unit holders a dividend of N20 per unit in the first quarter of the year (Q1, 2021) on April 15, 2021. It subsequently followed this up with another payment of N20.85 per unit in the second quarter of the year (Q2, 201) on July 13, 2021.

What you should know:

  • Lotus Capital is a full-fledged halal investment management company, specializing in Shari’ah compliant asset management, private wealth management and financial advisory services.

 

Secure Electronic Technology Plc grows profit after tax by 143% to N6.23 million in Q3 2021.

Chidi Emenike Leave a comment

Secure Electronic Technology Plc released its unaudited financial statements for the third quarter ended 30th of September, 2021.

  • Gross sales for the period was N1.03 billion (-4.1% YoY)
  • Net income of N62.8 million. (+65.7% YoY)
  • Administrative expenses totalled N56.32 million. (+8.4% YoY)
  • An operating profit of N6.44 million was recorded during the period.
  • Total assets for the period stood at N3.5 billion
  • Profit after tax of N6.23 million. (+143.3% YoY)

See link to results.

May & Baker Nigeria Plc announces board meeting, closed period ahead of Q3 2021 results.

Chidi Emenike Leave a comment

May & Baker Nigeria Plc has announced that its board of directors will meet on 27th of October, 2021 to consider and approve the unaudited financial results of the company for the third quarter of the year (Q3) ended September 30, 2021.

Consequently, the firm also announced that it has commenced a closed period in the trading of its shares from October 1, 2021. The closed period will persist until 24 hours after the firm’s unaudited financial statements have been filed with the Nigerian Exchange Group Limited (NGX) and made public.

This is according to a disclosure signed by the Company’s secretary, Mrs. Adetoun Abiru and sent to the Nigerian Exchange Limited (NGX).

It is pertinent to note that the closed period is in line with Rule 17.18(a) (Closed Period Rules) of the NGX’s Rule Book (2015). During this period, individuals with sensitive information about stock performance such as; Directors, managers, employees, consultants and their connected persons, are prohibited from trading in the shares of the bank either directly or indirectly.

For more information about the board meeting, click HERE.

 

Regency Alliance Insurance projects profit after tax of N808.2 million in Q4 2021.

Chidi Emenike Leave a comment

Regency Alliance Insurance Plc released its earnings forecasts for the fourth quarter of the year (Q4, 2021) ending 31st of December, 2021.

  • Net premium is projected at N3.01 billion
  • Net claims projection of N957.82 million
  • Net operating income is projected at N2.38 billion
  • Underwriting/Management expenses projection of N955.54 million
  • Tax is projected at N70.3 million
  • Profit after tax is projected at N808.2 million.

See link to forecasts.

Standard Alliance Insurance Plc: Notice of Board Meeting

Chidi Emenike Leave a comment

Standard Alliance Insurance Plc has notified its shareholders, the investing public and other relevant stakeholders that it will be hosting a Board of Directors Meeting on Thursday, October 28, 2021.

This is according to a notice signed by the company’s secretary, Kasoki Hart Olekanma, and filed with the Nigerian Exchange Limited (NGX).

According to the notice, the board meeting is scheduled to enable the Directors deliberate on and approve the company’s unaudited financial accounts for the third quarter ended 30th of September, 2021.

Consequently, in line with Rule 17.18 of the Rulebook of the Nigerian Exchange Limited (NGX), the company disclosed that it had already commenced a closed period from October 1, 2021. The closed period will last until 24 hours after the financial results have been released to the NGX and made public.

During the closed period, all insiders such as: Director, persons discharging managerial responsibilities, and advisers of the Company and their connected persons  are prohibited from trading (i.e. buying, selling, transferring or otherwise dealing) in the company’s shares.

 

For more information about the disclosure, click HERE.