Author: Chidi Emenike

NPF Microfinance posts profit of N236.1 million in Q1 2020, up by 66.8% YoY.

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NPF Microfinance Bank Plc released its unaudited results for the first quarter of the year (Q1, 2021).

  • Net interest income for the period was N994.2 million. (+20.8% YoY)
  • Fees and commission income of N160.8 million. (+31.3% YoY)
  • Administrative and general expenses of N398.5 million. (+30.9% YoY)
  • Personnel expenses of N412.07 million. (+5.3% YoY)
  • Profit for the period was N236.1 million. (+66.8% YoY)
  • Earnings per share of 10 kobo Vs 6 kobo YoY.

See link to results.

2021 Q1 Results: Unity Bank records a 43% surge in profit to N721.5 million

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Unity Bank Plc released its unaudited results for the first quarter of the year (Q1, 2021).

  • Net interest income for the period was N4.8 billion. (+16% YoY)
  • Net fee and commission income was N1.6 billion. (-14% YoY)
  • Net operating income was N6.7 billion. (+12% YoY)
  • Total operating expenses of N5.9 billion. (+9% YoY)
  • Profit for the period was N721.5 million. (+43% YoY)
  • Earnings per share of 6 kobo Vs 4 kobo YoY

See link to results.

MTN Nigeria Plc grows profit by 43% to N73.7 billion in Q1 2021.

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MTN Nigeria Communications Plc released its unaudited results for the first quarter of the year (Q1, 2021).

  • Revenue for the period was N385.3 billion.(+17.06% YoY)
  • Direct networking operating costs of N93.9 billion. (+30.2% YoY)
  • Employees benefit was N9.32 billion. (+0.5% YoY)
  • Profit for the period was N73.7 billion. (+42.5% YoY)
  • Net assets per share for the period was N12.4
  • Earnings per share of N3.6 Vs N2.5 YoY

See link to results.

Skyway Aviation Handling Company reports N93.4 million profit in Q1 2021.

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Skyway Aviation Handling Company Plc released its unaudited results for the first quarter of the year (Q1, 2021).

  • Revenue for the period was N1.99 billion. (+0.7% YoY)
  • Direct cost of N1.16 billion was incurred. (+2.2% YoY)
  • Administrative expenses of N669.9 million. (+0.7% YoY)
  • Operating profit of N169.7 million. (-3% YoY)
  • Profit for the period was N93.4 million. (-3.01% YoY)
  • Earnings per share of 7 kobo. (+3% YoY)

See link to results.

2021 Q1 Results: Sterling Bank’s profit beat forecasts, surge by 16% to N2.4 billion.

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Sterling Bank Plc released its unaudited results for the first quarter of the year (Q1, 2021).

  • Net interest income for the period was N14.35 billion. (-7.1% YoY)
  • Net fees and commission income was N3.7 billion. (+25.1% YoY)
  • Operating income of N20.09 billion. (+0.6% YoY)
  • Total expenses of N15.82 billion. (-4.5% YoY)
  • Profit for the period was N2.4 billion. (+15.98% YoY)
  • Earnings per share of 8 kobo Vs 7 kobo YoY.

See link to results.

Zenith Bank posts profit after tax of N53.06 billion in Q1 2021, as earnings per share prints N1.7

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Zenith Bank Plc released its unaudited results for the first quarter of the year (Q1, 2021).

  • Net interest income after impairment charge was N79.3 billion. (+2.3% YoY)
  • Net fee and commission income of N31.4 billion. (+103.5% YoY)
  • Operating expenses of N44.25 billion. (+10.1% YoY)
  • Customers deposit totalled N5.7 trillion. (+27.2% YoY)
  • Profit after tax was N53.06 billion. (+5.01% YoY)
  • Earnings per share printed N1.7 Vs N1.6 YoY.

See link to results.

Berger Paints Nigeria Plc profit declines to N45 million in Q1 2021

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Berger Paints Nigeria Plc released its unaudited results for the first quarter of the year (Q1, 2021).

  • Revenue for the period was N1.19 billion. (+10% YoY)
  • Cost of sales was N617.8 million. (+24.1% YoY)
  • Administrative expenses of N300.17 million. (+6.3% YoY)
  • Operating profit of N79.8 million. (-32% YoY)
  • Profit for the period was N44.99 million. (-32% YoY)
  • Earnings per share of 16 kobo Vs 23 kobo YoY
  • Net assets per share of N11.01 Vs N10.8 YoY

See link to results.

Vitafoam Nigeria Plc posts profit of N1.4 billion in Q2 2020

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Vitafoam Nigeria Plc released its unaudited results for the first quarter of the year (Q1, 2021).

  • Revenue for the period was N10.7 billion. (+65.5% YoY)
  • Cost of sales was N6.9 billion. (+79.7% YoY)
  • Administrative expenses totalled N1.35 billion. (+11.8% YoY)
  • Operating profit of N2.14 billion. (+55.4% YoY)
  • Profit for the period was N1.4 billion. (+76.7% YoY)
  • Earnings per share of N2.17 Vs N1.30 YoY.

See link to results.

UAC of Nigeria Plc records a 64% dip in profit to N669 million in Q1 2021.

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UAC of Nigeria Plc released its unaudited results for the first quarter of the year (Q1, 2021).

  • Revenue for the period was N22.02 billion. (+12.7% YoY)
  • Operating expenses totalled N2.98 billion. (-6.1% YoY)
  • Profit for the period was N669 million. (-64.1% YoY)
  • EBIT margin of 5.2% (+60bps)
  • Earnings per share from continuing operations of 12 kobo Vs 27 kobo YoY

Commenting on the result, the Group Managing Director of the company, Fola Aiyesimoju said: “Growth across our operating platforms translated to 13% revenue growth. Operational improvement initiatives resulted in a 6% reduction in operating expenses which supported marginal operating profit growth in spite of a 5% decline in gross profit. Raw material cost escalation remains a key concern and as such we are carefully assessing pricing. Our Paints business suffered production disruptions which impacted performance and our interest income declined materially in light of the low interest rate environment. These together with losses from our associates UPDC and MDS resulted in a 42% decline in profit from continuing operations. Performance in Q1 2020, being the comparative quarter last year, benefited from N717 million in exceptional income from discontinued operations relating to net gains from the divestment of a stake in MDS which impacts quarter on quarter comparisons.”

For more information about the result, click HERE.

Abbey Mortgage Bank profit after tax surge by 132% to N60.9 million in Q1 2021

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Abbey Mortgage Bank Plc released its unaudited results for the first quarter of the year (Q1, 2021).

  • Net interest income for the period was N315.5 million. (+33.3% YoY)
  • Fees and commission income of N28.15 million. (+127,872% YoY)
  • Net operating income of N370.71 million. (+52.6% YoY)
  • Customers deposit totalled N23.5 billion. (+60.6% YoY)
  • Profit after tax was N60.9 million. (+131.8% YoY)
  • Earnings per share of 4 kobo Vs 2 kobo YoY

See link to results.