Category: Consumer Goods

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Nigerian Enamelware Plc to hold 61st Annual General Meeting (AGM) on December 9

Chidi Emenike 2 Comments

Nigerian Enamelware Plc has announced that it will be hosting its 61st Annual General Meeting on the 9th of December, 2021. The meeting will be held at Olokun Hall, Lagos Airport Hotel, Ikeja, by 11:00 am prompt.

This is according to a statement issued by the company and signed by its secretary, Oyetola Oluwafemi. Some of the issues to be discussed at the AGM include;

  • The audited financial statement for the year ended April 30, 2021, and the report of its Directors, auditor, and the audit committee.
  • Board appointments will also be considered and ratified.
  • To fix remuneration of managers and Directors in FY 2021.
  • To elect shareholders’ representatives of the statutory audit committee, among others.

In view of the directives on physical distancing and the restriction on maximum number of people at every gathering due to the COVID-19 pandemic, the meeting will hold by proxy in accordance with section 254 of the Companies and Allied Matters Act 2020 and as approved by the Corporate Affairs Commission.

Consequently, the register of members shall be closed from Monday, November 29, 2021 to Friday December 3, 2021 (both days inclusive) for the purpose of updating the register of members.

For more information about the AGM, click HERE.

 

Chellarams Plc reports loss of N186.1 million in Q2 2021

Chidi Emenike 2 Comments

Chellarams Plc released its unaudited financial results for the second quarter of the year ending 30th of September, 2021.

  • Revenue for the period was N5.19 billion. (+225.3% YoY)
  • Cost of sales of N4.22 billion. (+231% YoY)
  • Administrative expenses totalled N349.7 million. (+13% YoY)
  • Net assets during the period stood at N7.21 billion.
  • Loss after tax from continuing operations was N186.1 million

See link to results.

Adesola Sotande –Peters resigns from the Board of Unilever Nigeria Plc.

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Unilever Nigeria Plc has informed the Nigerian Exchange Limited (NGX), shareholders and the investing public, about the resignation of Mrs. Adesola Sotande-Peters from its Board of Directors with effect from 16th of December, 2021.

This is according to a statement signed by the general counsel of Unilever Nigeria Plc, Mrs Abidemi Ademola, which reads: ‘’ Unilever Nigeria Plc. hereby gives the Nigerian Exchange and the investing public notice of the resignation of Mrs. Adesola SotandePeters from the Board of Directors of Unilever Nigeria Plc. with effect from 16 December, 2021.’’

Consequently, the Board seized the opportunity to thank Mrs Adesola Sotande-Peters for her service and contribution to the Company and the Board over the past seven years and wished her success in her future endeavors.

About Mrs Adesola Sotande-Peters

Adesola is an experienced finance executive and business leader with vast experience in leading financial processes and strategies that spans over two decades. She had led global organizations like the BBC UK, Diageo and Unilever.  Adesola holds the record of being the first Nigerian and first female Vice President, Finance, in Unilever Nigeria and Ghana, breaking a jinx of almost 100 years.

Adesola also served as an Interim Managing Director of Unilever Nigeria Plc. As a thoroughbred professional, she sits on the Board of Unilever Nigeria as an Executive Director and the boards of Unilever Ghana and Lonadek Nigeria Limited as a Non-Executive Director, among others.

She has a Business Administration and Economics degree from the American International University, London and an MBA for Finance Professionals from Manchester Business School. She is a fellow of the following reputable professional bodies; Institute of Chartered Accountants of Nigeria (ICAN), Association of Chartered Certified Accountants and the Institute of Credit of Administration.

MAY & BAKER NIGERIA PLC Records a Revenue of N8.06 Billion in Q3 2021 

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MAY & BAKER NIGERIA PLC released its unaudited financial results for the third quarter of the year ended 30th of September 2021. 

  • Revenue during the period was N8.06 billion. (+25.26% YoY) 
  • Cost of sales stood at N4.35 billion. (+16.29% YoY) 
  • Distribution, sales and marketing expenses for the period was N1.31 billion. (+39.20% YoY) 
  • Administrative expenses of N772.55 million was recorded. (+23.77% YoY) 
  • Profit before tax stood at N1.30 billion (+29.44% YoY) 
  • Total assets during the period stood at N5.98 billion. (-412.70 Mn YoY) 
  • Profit for the period was N882.4 million (-29.44% YoY) 
  • Earnings per share of 5,115 kobo Vs 3,952 kobo YoY. 

See link to results 

Tripple Gee & Company Plc reports profit after tax of N49.7 million in Q2 2021.

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Tripple Gee & Company Plc released its unaudited financial results for the second quarter of the year ended 30th of September, 2021.

  • Turnover during the period was N371.47 million. (-55.4% YoY)
  • Cost of sales stood at N188.8 million. (-73% YoY)
  • Distribution and administrative expenses totalled N108.75 million. (+87.1% YoY)
  • An operating profit of N73.9 million was recorded.
  • Total assets during the period stood at N3.48 billion. (+79.3 YoY)
  • Profit after tax was N49.7 million. (+41.4 YoY)
  • Earnings per share of 10.04 kobo Vs 7.10 kobo YoY.

See link to results.

Unilever Nigeria Plc grows profit by 153% to N1.08 billion in 9M 2021.

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Unilever Nigeria Plc released its unaudited financial statement for the nine months period ended 30th of September, 2021.

  • Revenue for the period was N58.7 billion. (+31.3% YoY)
  • Cost of sales stood at N42.9 billion. (+23% YoY)
  • Administrative and marketing expenses totalled N12.4 billion. (+28.8% YoY)
  • An operating profit of N675.2 million was recorded during the period.
  • Profit for the period was N1.08 billion. (+152.6% YoY)
  • Earnings per share of 19 kobo Vs -36 kobo YoY.

See link to results.

P Z Cussons Nigeria Plc grows profit after tax by 209% to N231.09 million in Q1 2021.

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PZ Cussons Nigeria Plc released its unaudited financial statement for the first quarter of the year (Q1, 2021) ended 31st of August 2021.

  • Revenue for the period was N22.2 billion (+18.7% YoY).
  • Cost of sales stood at N16.52 billion. (+19.6% YoY)
  • Administrative expenses totalled N1.81 billion. (+2.4% YoY)
  • An operating profit of N1.51 billion was recorded during the period (+99.3% YoY)
  • Profit for the period was N231.09 million. (+208.8% YoY)
  • Earnings per share of 6 kobo. (+220% YoY)
  • Operating margin of 7% Vs 4% YoY.

See link to results.

PZ Cussons Nigeria Plc grows profit after tax by 124% to N1.7 billion in FY 2020

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PZ Cussons Nigeria Plc released its consolidated financial statements for the year ended 31st of May, 2021.

  • Revenue for the period was N82.6 billion. (+23% YoY)
  • Cost of sales stood at N59.5 billion. (+2% YoY)
  • Administrative expenses totalled N6.5 billion. (+19.3% YoY)
  • An operating profit of N1.19 billion was generated.
  • Profit after tax was N1.7 billion. (+124% YoY)
  • Earnings per share of 37 kobo (+121% YoY).

See link to results.

2021 Q2 Results: Northern Nigeria Flour Mills Plc grows profit after tax by 17% to N90.9 million.

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Northern Nigeria Flour Mills Plc released its unaudited financial results for the second quarter of the year (Q2, 2021) ended September 30, 2021.

  • Revenue for the period was N4.45 billion. (+82.3% YoY)
  • Cost of sales stood at N4.13 billion. (+87.6% YoY)
  • Administrative expenses totalled N182.3 million. (+82.6% YoY)
  • An operating profit of N120.13 million was generated.
  • Profit after tax was N90.9 million. (+16.8% YoY)
  • Earnings per share of 51 kobo Vs 44 kobo YoY.

See link to results.

AGM Watch: Honeywell Flour Mills Plc Shareholders Approve N555.1 million Dividend.

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The shareholders of Honeywell Flour Mills of Nigeria Plc, have approved the sum of N555.11 million as final dividend for the year ended 31st of March, 2021. This amount translates into a final pay out of 7 kobo per share to shareholders.

A notice sent to the Nigerian Exchange Limited (NGX) today, acknowledged by the company’s secretary, Yewande Giwa,  said the decision was made during the recently concluded 12th Annual General Meeting (AGM) of the company which held at Civic Centre, Victoria Island, Lagos on the 14th day of October, 2021.

Excerpts of the resolutions reached at the AGM read: ‘’That a final dividend of 7 kobo per share, subject to tax, be declared in respect of the year ended 31st of March, 2021, and made payable by 14th October, 2021 to members whose names appear in the Register of Members as at close of business on 3rd September, 2021.’’

Other vital resolutions the company made in the course of the meeting were;

  • The following Directors: Mr. Alan Palmer, Mr. Oluranti Sokunbi and Mrs. Wonuola Adetayo be re-elected as Directors of the Company.
  • That the following individuals be elected into the Statutory Audit Committee; Mr. Adebayo Adeleke, Mrs. Morenike Omilabu and Mr. Ogundipe John Afolabi (representing the Shareholders) and Mr. Andrew Smith-Maxwell and Mrs. Wonuola Adetayo (representing the Board).
  • Directors were authorized to fix the remuneration of the independent auditors of the company- Bakertilly Nigeria

What you should know:

  • Recall that Flour Mills of Nigeria Plc had reported a profit after tax of N1.13 billion for the year ended 31st of March, 2021, indicating a surge of 76% YoY. The firm’s revenue also grew by 36% to N109.6 billion. Consequently, the firm declared a dividend of 7 kobo per share, which is up by 75% YoY.
  • Honeywell Flour Mills of Nigeria Plcis currently trading at N3.69 on the floor of the NGX