Consumer Goods – Page 7 – NAIRAMETRICS| COMPANY EARNINGS

Nestle Nigeria Plc to pay N28.14billion dividend to shareholders

2 July 20212 July 2021 Chidi Emenike Leave a comment

The Board of Nestle Nigeria Plc has approved a final dividend payment of N28.14 billion representing N35.50 per share for the 2020 financial year at the 52nd Annual General Meeting of the company, held at Ilupeju, Lagos on 22nd of June, 2021.

This is according to a disclosure signed by the company’s secretary, B.B Ayeku, and made accessible on the website of the Nigerian Exchange Group Limited (NGX).

According to the notice, the approved sum is made up of N24.50k from the after tax profit for the year ended December 31, 2020, in addition to N5.00 and N6.00 from the after tax retained earnings for the years ended December 31, 2019 and 2018 respectively.

It is pertinent to note that the approved dividend which is subject to appropriate withholding tax will be paid out to all the shareholders, whose names appear on the Register of Members as at the close of business on 21st of May, 2021.

Recall that the firm had earlier announced an interim dividend of N25 per share, totalling N19, 816,406,300. In light of this, the firm has so far declared a total dividend worth N60.50 per share for the FY 2020 period, translating to a dividend pay-out of N47, 955,703,246.00 in total.

What you should know:

Nestle Nigeria Plc had earlier reported a profit after tax of N39.2 billion in FY 2020. Its earnings per share printed N49.47 during the aforementioned period.
Last month, the firm released the names of 17,187 shareholders who are yet to file and claim their dividends.
Nestle Nigeria Plc closed trading for the week ended 2nd of July 2021, with a share price of N1,540 and a market capitalization of N1.22 trillion.

Golden Guinea Breweries Plc reports a loss of N225.9 million in FY 2020.

1 July 20211 July 2021 Chidi Emenike Leave a comment

Golden Guinea Breweries Plc released its full-year audited results for the year ended 31st of March, 2021.

Revenue for the year was N1.46 billion. (+71.5% YoY)
Cost of sales was N1.42 billion. (+94.1% YoY)
Administrative expenses totalled N329.85 million. (+22.6% YoY)
Loss for the year was N225.9 million.
Loss per share of 23 kobo Vs 14 kobo YoY.
No dividend announcement made.

See link to results.

Stanley Njoroge resigns as a director from the Board of Guinness Nigeria Plc.

1 July 20211 July 2021 Chidi Emenike Leave a comment

The Board of Guinness Nigeria Plc has announced the resignation of Mr Stanley Njoroge as an Executive Director of the company, effective from 31st of July, 2021.

This is according to a notification sent to the Nigerian Exchange Group Limited (NGX), which reads: ‘’ This is to inform the Nigerian Exchange Limited, the investing public and our esteemed shareholders of the resignation of Mr. Stanley Njoroge from the Board of Guinness Nigeria Plc with effect from 31st July 2021.’’

In addition, the Board of Guinness Nigeria seized the opportunity to thank Mr. Stanley Njoroge for his service and contribution to the growth of the company and wished him all the best in his future endeavours.

About Mr. Stanley Njoroge

Mr. Stanley Wanyoike Njoroge is a Certified Public Accountant and a member of the Institute of Certified Accountants of Kenya (ICPAK). He is an alumnus of both the University of Nairobi and Strathmore University in Nairobi Kenya.

Until his resignation, Stanley served as the Finance and Strategy Director, and was appointed to the Board of Guinness Nigeria Plc as an Executive Director in March 2018. Prior to joining Guinness Nigeria, Stanley gathered valuable experience from leading multi nationals like Deloitte & Touche East Africa, where he provided tax consultancy and managed tax clients in Kenya and Uganda.

Other reputable brands he worked for include but not limited to; Barclays Bank Kenya, PT Gitaswara Indonesia, Meta Abo Brewery S.C, EABL among others.

Northern Nigeria Flour Mills Plc reports profit of N69.92 million in FY 2020.

30 June 202130 June 2021 Chidi Emenike Leave a comment

Northern Nigeria Flour Mills Plc released its audited financial results for the year ended 31st of March, 2021.

Revenue for the year was N8.67 billion. (-2% YoY)
Cost of sales was N7.9 billion. (-1.1% YoY)
General and administrative expenses totalled N490.9 million. (-4.1% YoY)
Operating profit was N328.29 million. (-41.6% YoY)
Profit for the year was N69.92 million. (+8.2% YoY)
Earnings per share of 39 kobo Vs 36 kobo YoY.

See link to results.

2020 FY Results: Flour Mills Nigeria Plc reports a 126% increase in profit to N25.72bn.

30 June 202130 June 2021 Chidi Emenike Leave a comment

Flour Mills Nigeria Plc released its audited financial statements for the year ended 31st of March, 2021.

Revenue for the year was N771.61 billion. (+34% YoY)
Cost of sales was N664.85 billion. (+31% YoY)
Administrative expenses totalled N29.05 billion. (+24.4% YoY)
Profit for the year was N25.72 billion. (+126% YoY)
Earnings per share of N6.38 Vs N2.25 YoY.
A proposed dividend of N1.65 was announced by the board. (+18% YoY)
Total shareholders fund was N174.6 billion. (+12% YoY)

See link to results.

R.T Briscoe Nigeria Plc reports a loss of N498.5 million in Q1 2021.

29 June 202129 June 2021 Chidi Emenike Leave a comment

R.T Briscoe Nigeria Plc released its unaudited financial results for the first quarter of the Year (Q1, 2021) ended 31st of March, 2021.

Revenue for the period was N1.13 billion. (-19% YoY)
Cost of sales was N826.17 million (-25% YoY)
Administrative expenses of N291.1 million. (+15% YoY)
Loss for the period was N498.5 million.
Loss per share of -42 kobo Vs -21 kobo YoY.

See link to results.

Ellah Lakes Plc signs strategic deal with KJM Trading Ghana Limited to expand operations.

29 June 202129 June 2021 Chidi Emenike Leave a comment

Ellah Lakes Plc has announced the signing of a Memorandum of Understanding (MoU) with KJM Trading Limited Ghana (KTLG), in a bid to expand its frontiers and business interests beyond Nigeria.

The partnership will enable Ellah Lakes to kick off the process of securing 20,000 hectares of arable farmland in Ghana and will herald the emergence of its subsidiary in Ghana. In addition, the company is looking at leveraging on KTLG’s strong network across the West African market, given its diversified business interests.

According to a notice sent to the Nigerian Exchange Group Limited (NGX), the deal is part of the strategic plan by Ellah Lakes Plc to establish a presence in three other Anglophone countries in West Africa starting with Ghana.

What they are saying:

Commenting on the deal, the Chief Executive Officer/Managing Director of Ellah Lakes Plc, Mr Chuka Mordi said: ‘’Ellah Lakes is very pleased to commence this strategic partnership with KJM Trading Limited. This is the first stage of our planned West African dominance and Ellah Lakes Ghana, a subsidiary of Ellah Lakes Plc will be set up as a result of this partnership.

Under this partnership, Ellah Lakes will also kick off the process of securing 20,000 hectares of arable farmland in Ghana. We are certain that this partnership will strengthen and advance the transformation agenda of the company.’’

On the other hand, the CEO of KJM Trading Limited, Mr Emmanuel Kojo Jones-Mensah said: ‘’At KTLG, we aim to build a prosperous agriculture chain in Africa. We are excited to be part of this next chapter of Ellah Lakes growth and look forward to putting our expertise and experience to use for a successful partnership.

What you should know:

It is pertinent to note that the value of the deal at the moment cannot be ascertained as negotiations between the aforementioned parties are currently going on. This was highlighted by the firm when it stated that: ‘’The agreement between the Company and KTLG is subject to negotiation and execution of definitive documentation in more detail with the terms of their collaboration.’’
Ellah Lakes is a diversified Nigerian agribusiness operator with focus on production of oil palm, cassava, maize, soya bean and their derivative products. The firm was established in 1980 and is currently listed on the mainboard of the Nigerian Exchange.
On the other hand, KJM Trading Limited is a private limited liability company incorporated under the laws of Ghana. It renders diversified services such as clearing, warehousing, haulage and transportation services .