Author: Chidinma Anyalewechi

Academy Press Plc reports Loss for the period of N197.20 million in second quarter result

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Academy Press Plc released its unaudited financial results for the second quarter of the year ended 30th of September 2021.

  • Revenue during the period was N2.11 billion. (+285.57% YoY)
  • Cost of sales stood at N1.54 billion. (+352.72% YoY)
  • Gross profit for the period was N570.73 million. (+175.45% YoY)
  • Results from operating activities of N286.50 million was recorded. (+380.88% YoY)
  • Loss for the period stood at N197.20 million (+30.71%)
  • Total assets during the period stood at N2.41 billion. (+182.50 Mn YtD)
  • Earnings per share of 33 kobo Vs loss of 25 kobo YoY.

See full result here

AIICO Insurance Plc declares Bonus shares to be issued to existing shareholders

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AIICO Insurance Plc has declared that 12 bonus shares will be issued for every 9 ordinary shares held by existing shareholders for the financial period ended September 30, 2021.

According to a notice filed with the Nigerian Exchange Limited (NGX) and signed by the company’s secretary, Donald Kanu, 8 of the bonus shares will be issued from the share premium account, while the remaining 4 bonus shares will be issued from the retained earnings.

The notice further stated that these bonus shares are being issued to enable the company to meet up with the new minimum capital requirement as directed by the National Insurance Commission (NAICOM).

In order to facilitate the process, the Register of Shareholders will be closed from Wednesday, 24th of November to Monday, 29th of November, 2021.

Shareholders are urged to ensure that their names appear on the Company’s Register of Members as at the aforementioned date and shareholders who are yet to complete the e-dividend registration are advised to download the form on the Registrar’s website, complete the form and submit it to the Registrar or their respective banks.

Furthermore, shareholders with dividend that have remained unclaimed or are yet to be presented for payment have been advised to contact the registrar.

What you should know

AIICO Insurance Plc has reported a 15.84% growth in its Gross premium written to N54.67 billion for the 2021 Q3 Period. Similarly, Underwriting Profit appreciated by 233% to N29.74 billion. During the period, earnings per share (EPS) declined to 15 kobo, decreasing by 66.67% YoY.

Aluminium Extrusion Industries Plc reports net loss of N11.53 million in Q3 2021

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Aluminium Extrusion Industries Plc released its unaudited financial results for the third quarter of the year ended 30th of September 2021.

  • Revenue during the period was N655.99 million. (+185.51% YoY)
  • Cost of sales stood at N603.87 million. (+288.40% YoY)
  • Gross profit for the period was N52.12 million. (-29.83% YoY)
  • Administrative and Finance cost of N57.96 million was recorded. (+42.41% YoY)
  • Loss for the period stood at N11.53 million (-127.82%)
  • Total assets during the period stood at N2.55 billion. (-20.52 Mn YtD)
  • Earnings per share of 0 kobo Vs 19 kobo YoY.

See link to results.

Nigerian Breweries Plc Board of Directors to consider Interim dividend at meeting

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Nigerian Breweries Plc has disclosed through a notice filed with the Nigerian Exchange Limited (NGX) that an additional item has been added to the agenda to be considered.

The notice signed by the company’s secretary, Uaboi .G. Agbebaku, stated that the payment of an interim dividend has been added to the issues to be considered during the Board of Directors meeting scheduled to hold on the 28th of October, 2021.

Earlier, on the 27th September 2021, the company notified the investing public and the Exchange of its Board of Directors meeting and the company’s Closed Period. In addition to the consideration of payment of interim dividend, other issues to be considered is the approval of the Unaudited Financial Statements for the Company for the third quarter ending 30th September 2021.

The company’s closed period commenced on Tuesday, September 28, 2021 and is to continue until the next day after the unaudited financial statements are filed with the Exchange.

See notice here.

Guaranty Trust Holding Company Plc reports 4.11% growth in Net Profit for third quarter ended 30 September, 2021

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Guaranty Trust Holding Company Plc has released its unaudited financial statement for the third quarter ended 30th of September, 2021.

  • Interest income during the period was N68.94 billion. (-7.48% YoY)
  • Interest expense for the period was N13.06 billion. (+5.32% YoY)
  • Loan impairment charges for the period was N1.28 billion
  • Fee and commission income during the period was N18.32 billion. (+67.39% YoY)
  • Fee and commission expense of N3.34 billion was recorded.
  • Profit before income tax for the period was reported as N58.85 billion. (+2.11%)
  • Profit after tax for the period was N49.99 billion. (+4.11%)
  • Total assets during the period stood at N5.14 trillion. (+119 bn YtD)
  • Earnings per share of N1.78 kobo Vs N1.71 kobo.

See full result here

AIICO lnsurance Plc reports Unaudited Interim report for the period ended 30 September, 2021

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AIICO Insurance Plc has released its unaudited interim report and financial statement for the third quarter ended 30th of September, 2021.

  • Gross premium written during the period was N54.67 billion. (+15.84% YoY)
  • Gross premium income for the period was N51.44 billion. (+16.56% YoY)
  • Net Premium income for the period was N42.96 billion
  • Underwriting profit during the period was N29.74 billion. (+233% YoY)
  • Other expenses of N15.45 billion was recorded.
  • Profit after tax from discontinued operation was reported as N2.37 billion.
  • Profit for the period was N2.43 billion.
  • Total assets during the period stood at N212.25 billion. (-30.84 mn YtD)
  • Earnings per share of 15 kobo Vs 45 kobo.

See link to results

Ikeja Hotel Plc reports Unaudited Interim report for period ended 30 September, 2021

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Ikeja Hotel Plc has released its unaudited group financial statement for the third quarter ended 30th of September, 2021. 

  • Revenue during the period was N2.84 billion. (+306.76% YoY)  
  • Cost of Sales for the period was N2.08 billion. (+159.40% YoY) 
  • Gross Profit for the period was N752.69 million 
  • Sale and Distribution expenses during the period was N68.01 million. (+649.54% YoY) 
  • Administrative and General expenses of N310.43 million was recorded. 
  • Operating Profit for the period was reported as N370.43 million. 
  • Profit after tax during the period was N34.15 million. 
  • Total assets during the period stood at N42.35 billion. (+795 mn YtD) 
  • Earnings per share of 2 kobo Vs loss of 30 kobo. 

See link to results 

Board of LivingTrust Mortgage Bank Plc authorize Directors to raise additional capital

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The board members of LivingTrust Mortgage Bank Plc. passed certain resolutions at its Extra-Ordinary General Meeting which was held on October 25, 2021 at 11am.

This was disclosed in a notice signed by the company’s secretary and filed with the Nigerian Exchange (NGX). proposed and passed the following resolutions:

The purpose of the meeting was to deliberate and give authorisation to the directors to raise additional capital for the company. At the end of the meeting, the Directors were authorized to raise capital whether by way of rights issue, an offer for subscription, or other methods or combination of methods, based on the discretion of the directors and subject to obtaining the requisite regulatory approvals.

Other resolutions passed at the extra-ordinary general meeting include:

  • Directors have been authorized to enter into and execute the agreements and all other requisite documents related to, connected with and incidental to implementing the resolution to raise capital, including without limitation, complying with the directives of any regulatory authority.
  • Following allotment by the Board of Directors, the new shares issued by the Company pursuant to the Rights Issue be listed with the Nigerian Exchange Group;
  • That the Directors be authorized to appoint such professional parties and advisers, as may be necessary for or incidental to effecting the above resolutions and that all acts carried out by the Directors and/or management of the Company in connection with the above are approved and ratified;
  • Directors are authorized to use the proceeds of the capital raise to recapitalize the Bank and obtain a National Mortgage Banking License from the Central Bank of Nigeria.

Access Bank Plc: Postponement of board meeting and extension of non-dealing period

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Access Bank Plc has notified its shareholders, the investing public and other relevant stakeholders of the postponement of the Board of Directors Meeting and extension of non-dealing period.

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

According to the notice, the board meeting which was earlier announced to be held on Wednesday, October 27, 2021, has now been rescheduled to hold on Friday, October 29, 2021. The meeting was set up to enable the Directors approve the group’s unaudited financial accounts for the third quarter of the year (Q3, 2021) ended 30th of September, 2021.

In addition, the company disclosed that the earlier announced Non-Dealing period in respect of the company’s securities will continue until 24 hours after the release of the company’s results n line with the post-listing requirements of the NGX.

During the closed period, all insiders and their connected persons are prohibited from directly or indirectly trading (i.e buying, selling, transferring or otherwise dealing) in the company’s securities in any manner.

See full disclosure here.

Wema Bank Plc announces the rescheduling of Board meeting

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In a notice filed with the Nigerian Exchange Limited (NGX), Wema Bank has announced to its investors and the investing public that the earlier date scheduled for the meeting of Board of Directors has been changed.

The bank says it wishes to notify the investing public that in accordance with the Rules of the NGX, the meeting earlier scheduled for October 26, 2021 has been rescheduled to hold on October 28, 2021 at 10.00 a.m. in Lagos.

The purpose of the board meeting is for the consideration and approval of the Company’s performance during the third quarter and Unaudited Financial Statements for the period ended 30 September 2021 as well as have deliberations over other corporate actions.

According to the disclosure signed by the company’s secretary, Johnson Lebile, “The Company’s Closed Period which commenced on 1 st October 2021 will continue until 24 hours after the Bank’s 2021 Q3 UFS and other corporate actions have been made public in line with the Rulebook of the Exchange”.

See link to disclosure.