Author: Chidi Emenike

Access Bank Plc posts N106.01 billion profit in FY 2020.

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Access Bank Plc released its full-year results for the year ended 31st December 2020.

  • Net interest income after adjusting for impairment charges was N200.06 billion. (-22.2% YoY)
  • Net fee and commission income of N93.6 billion. (+26.4% YoY)
  • Personnel expenses totaled N73.17 billion. (-4.93% YoY)
  • Profit for the year was N106.01 billion. (+12.7% YoY)
  • Earnings per share of N3.01 Vs N2.79 YoY.
  • Customers’ deposits totaled N5.6 trillion. (+31.3% YoY)
  • A final dividend of 55 kobo was proposed.

See link to results.

 2020 FY Results: Linkage Assurance Plc records a 65% increase in profit after tax.

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Linkage Assurance Plc released its full-year results for the year ended 31st December, 2020.

  • Net premium income of N4.45 billion. (+20% YoY)
  • Net claims expenses was N1.4 billion (-17% YoY)
  • Underwriting profit of N825.6 million. (+102% YoY)
  • Profit after tax was N2.4 billion. (+65% YoY)
  • Earnings per share of 24 kobo vs 14.5 kobo YoY.
  • A bonus share issue of two shares for every five shares held by existing shareholders was proposed.
  • A cash dividend of 5 kobo per share was also proposed.

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Glaxo SmithKline Consumer Nigeria Plc posts a profit of N622.2 million in FY 2020.

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Glaxo SmithKline Consumer Nigeria Plc released its full-year results for the year ended 31st December 2020.

  • Revenue for the year was N21.3 billion. (+2.6% YoY)
  • Cost of sales was N15.4 billion. (+4.6% YoY)
  • Administrative expenses totaled N1.59 billion. (-17.6% YoY)
  • Profit after tax was N622.2 million. (-32.2% YoY)
  • Earnings per share of 52 kobo vs 77 kobo YoY.
  • A dividend of 40 kobo was proposed.

See link to results.

Unilever Nigeria Plc posts loss of N3.97 billion in FY 2020.

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Unilever Nigeria Plc released its full-year audited results for the year ended 31st December 2020.

  • Revenue for the year was N61.96 billion. (+2.4% YoY)
  • Cost of sales was N49.16 billion. (-11.8% YoY)
  • Marketing and administrative expenses totaled N12.4 billion. (-6.7% YoY)
  • Loss after tax was N 3.97 billion
  • Loss per share of -69 kobo Vs -N1.29 YoY.
  • No dividend announcement was made.

See link to results.

2020 FY Results: NEM Insurance Plc reports a 112% increase in profit after tax.

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

  • Net premium income of N15.9 billion. (+25.7% YoY)
  • Total claims paid during the year was N6.05 billion (+53.8% YoY)
  • Underwriting profit of N5.98 billion. (+37.5% YoY)
  • Profit after tax for the year was N5.08 billion. (+112.3% YoY)
  • Earnings per share of 96 kobo Vs 45 kobo.
  • The Shareholders’ fund of the company increased by 4.3 billion representing a 30.2% rise YoY.
  • A final dividend of 9 kobo was proposed.

See link to results.