Author: Chidi Emenike

PZ Cussons Nigeria Plc appoints Ifueko Okauru as Independent Non-Executive Director.

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The Board of Directors of PZ Cussons Nigeria Plc has announced the appointment of Mrs Ifueko Omoigui Okauru as Independent Non-Executive Director of the company effective from 1st of April, 2021.

This is according to a notification signed by the company’s secretary, Jacqueline Ezeokwelume and seen by Nairametrics.

Profile

Mrs Okauru is a chartered accountant, strategy and change management consultant with a stellar profile in the public and private sectors. She spent over a decade at Arthur Andersen & Co, where she led the firm’s successful strategy practice. Subsequently, she emerged as the first female Executive Chairman of the Federal Inland Revenue Service (FIRS). She currently serves on the boards of MTN Nigeria Plc and Nigerian Breweries Plc.

She is an alumna of prestigious institutions like the University of Lagos, Imperial College of London and Harvard Kennedy School, where she obtained a BSc in Accounting, MSc and MPA respectively.

What you should know:

  • PZ Cussons Nigeria Plc had earlier reported a profit after tax of N1.02 billion for the nine months period ended 28th of February, 2021.

See link to the recent announcement.

Chams Plc announces the appointment of Patricia Duru as new CFO

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The Board of Directors of Chams Plc has announced the appointment of Mrs Patricia Duru as the new Group Chief Financial Officer of the company effective from 1st of April, 2021.

This is according to a disclosure signed by the company’s secretary, Yetunde Emmanuel and sent to the Nigerian Exchange Group Plc (NGX Group).

As part of her responsibilities, Patricia will support the Board in driving the Group’s strategic vision and harnessing greater wealth building opportunities for shareholders.

Profile

Patricia is a financial management and business leader with over 12 years of experience in driving business growth.  Prior to joining Chams Plc, she served as the Chief Financial Officer of Interconnect Clearinghouse Nigeria Limited where she played a prominent role in the financial growth of the business.

Patricia is an alumna of the University of Uyo and University of Benin where she obtained a Bachelor’s degree in Accounting and an MBA in Finance respectively. She is a Fellow of the Institute of Chartered Accountants of Nigeria (FCA), an Associate of the Chartered Global Management Accountants and Chartered Management Accountants (UK), amongst others.

What you should know:

  • Chams Plc provides enterprise technology solutions for identity management and transactions payments to the public and private sectors in Nigeria.

See link to the recent announcement.

NPF Microfinance Bank reports a profit after tax of N614.42 million in FY 2020.

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NPF Microfinance Bank Plc released its full-year audited results for the year ended 31st December, 2020.

  • Gross Earnings for the year was N4.66 billion. (+4.7% YoY)
  • Net interest income of N3.7 billion. (+27% YoY)
  • Personnel expenses totalled N1.99 billion. (+9.2% YoY)
  • Profit for the year was N614.42 million. (-22.9% YoY)
  • Earnings per share of 27 kobo vs 35 kobo YoY.
  • A dividend of 20kobo was proposed by the Board.

See link to results.

UACN Property Development Company Plc appoints Ojo Odunayo as new CEO.

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The Board of Directors of UACN Property Development Company Plc has announced the appointment of Mr Ojo, Odunayo Abiodun as the new Chief Executive Officer of the company effective from 3rd of May, 2021.

This is according to a disclosure signed by the company’s secretary, Folake Kalaro and sent to the Nigerian Exchange Group Plc (NGX Group).

Profile

Mr Ojo is a consummate real estate professional with a wealth of experience in property development, asset management, private equity and advisory services. Prior to his recent appointment, Mr Ojo had held various leadership positions including but not limited to, CEO of Alaro City, Vice President of Ocean and Oil Holdings among others.

Mr Ojo is an alumnus of the University of Lagos where he obtained a Bachelor’s degree and an MBA in Estate Management. He is a member of the Royal Institution of Chartered Surveyors (RICS), The Nigerian Institution of Estate Surveyors and Valuers (NIESV) and a Registered Surveyor and Valuer (RSV).

What you should know:

  • UACN Property Development Company (UPDC) Plc is an indigenous real estate and property development firm. It acquires, develops, sells, leases, and manages choice residential and commercial real estate.

See link to the recent announcement.

Unilever Nigeria Plc reports a loss of N492 million in Q1 2021.

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

  • Revenue for the period was N19.43 billion. (+45.7% YoY)
  • Cost of sales was N14.95 billion. (+51% YoY)
  • Marketing and administrative expenses totalled N3.8 billion. (+63.3% YoY)
  • Loss for the period was N492 million. (-144.1% YoY)
  • Loss per share of 9 kobo. (-135% YoY)

 

See link to results.

Nigerian Breweries publishes names of over 100,000 shareholders who are yet to claim their dividends.

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The Nigerian Breweries Plc has published the names of over 100,000 shareholders who are yet to file and receive their dividends, categorizing them under the firm’s unclaimed dividend list.

According to a disclosure sent to the Nigerian Exchange Group Plc (NGX) and seen by Nairametrics, the list will be circulated to affected shareholders alongside the firm’s 2020 Annual Reports and Accounts.

In addition, the firm rationalized the cost-effective strategy of publishing the affected names on its website rather than print media, noting that it had to do so due to the high number of names involved (over 100,000)

Recall that the Companies and Allied Matters Act (CAMA) 1990 (revised 2020) had empowered companies to publish the list of unclaimed dividends with names of all intended beneficiaries. In this light, the recent disclosure by the Nigerian Breweries therefore validates an earlier claim of a surge in unclaimed dividend in Nigeria, estimated to be around N200 billion by an adhoc committee of the Nigerian House of Representatives.

Sequel to the notification, all affected shareholders’ are urged to visit the firm’s registrar (First Registrars and Investors Services Limited) to claim their dividends. The Registrar’s physical address and email are captured below;

Address: No 2 Abebe Village Road, Iganmu, Lagos State.

E-mail: [email protected] or [email protected].

What you should know:

  • Nigerian Breweries Plc had earlier reported a profit after tax of N7.53 billion in FY 2020 and subsequently declared a final dividend of 69kobo per share.
  • In a bid to manage the high incidence of unclaimed dividends in Nigeria, the Federal Government of Nigeria through the Finance Act 2020 had proposed the establishment of an Unclaimed Dividend Trust Fund, which is to be managed by the Debt Management Office (DMO).

See link to the unclaimed dividend list of the company.

 

2020 FY Results: Sovereign Trust Insurance Plc records a 37% increase in profit after tax.

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Sovereign Trust Insurance Plc released its audited full-year results for the period ended 31st December, 2020.

  • Net premium income for the year was N6.54 billion (+10%YoY)
  • Net claims expenses totalled N3.49 billion. (+58% YoY)
  • Underwriting profit of N1.99 billion. (-4% YoY)
  • Profit after tax was N687.7 million. (+37% YoY)
  • Earnings per share of 8kobo vs 6kobo YoY.
  • No dividend was announced

See link to results.

CSCS Plc posts profit after tax of N6.93 billion in FY 2020

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Central Securities Clearing System Plc (CSCS) has released its full-year results for the period ended 31st December, 2020.

  • Total operating income for the year was N12.09 billion. (+31.3% YoY)
  • Investment Income of N7.44 billion. (+61.4% YoY).
  • Operating Expenses totalled N4.72 billion. (+46.0% YoY).
  • Profit after tax was N6.93 billion. (+41.4% YoY).
  • Earnings per share of 139 Kobo Vs 98 Kobo YoY.
  • No dividend was announced.

See link to results

BUA Cement Plc announces Board Meeting

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BUA Cement Plc has notified stakeholders and the investing public of its imminent Board of Directors meeting, scheduled on April 28, 2021.

This is according to a disclosure signed by the Company’s secretary, Ahmed Aliyu and sent to the Nigerian Stock Exchange.

The meeting is scheduled to consider the unaudited financial statements of the company for the quarter ended 31st of March, 2021 (Q1, 2021) along with other corporate actions. In line with this, the company will be observing a closed period from 7th of April, 2021 until 24 hours after the unaudited financial statements have been filled with The Exchange.

What you should know:

  • During the close period, no insider of BUA Cement Plc will be able to deal with its shares, whether directly or indirectly.
  • BUA Cement Plc had earlier reported a Profit before tax of N72.3 billion in FY 2020.

For more information about the notice, click HERE.

Infinity Trust Mortgage Bank Plc records a 60% increase in profit after tax in Q1 2021.

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

  • Turnover for the period was N382.97 million. (+21.1% YoY)
  • Net fee and commission income of N25.8 million. (+19.1% YoY)
  • Total operating income of N338.1 million. (+28.4% YoY)
  • Total operating expenses of N178.93 million. (+8.31% YoY)
  • Profit after tax was N145.27 million. (+60% YoY)
  • Earnings per share of 13 kobo vs 8 kobo YoY.

See link to results.