Airtel Africa Plc reports profit after tax of $415million in FY 2020.

Airtel Africa Plc has released its results for the year ended 31st of March, 2021.

  • Revenue for the period was $3.9 billion. (+14.2% YoY)
  • Total expenses of $2.8 billion were incurred. (+10.3% YoY)
  • Operating profit of $1.12billion. (+24.2% YoY)
  • Profit after tax was $415 million. (+1.8% YoY)
  • Earnings per share of 9 cents. (-12.6% YoY)
  • A final dividend of 2.5 cents per ordinary share was proposed.

See link to results.

MTN Nigeria issues a 7-Year Series 1 bond worth N110 billion.

MTN Nigeria has announced the successfully issuance of a N110 billion Series 1 7-Year 13.0% Fixed Rate Bonds due 2028, under its N20 billion Bond Issuance Programme.

This is according to a disclosure issued by the telecommunications giant and signed by its secretary, Uto Ukpanah.

According to the disclosure, the Series 1 bond is the first ever teleco bond in Nigeria and the largest corporate bond issued in the domestic capital markets so far, it is a debut listing for the telecommunications giant.

Reacting to the recent development, the Chief Executive Officer of MTN Nigeria, Karl Toriola said: ‘’ ’We are very proud of this landmark transaction, which is the first ever teleco bond issued in Nigeria and the largest corporate bond issuance this year. The domestic debt capital market has given us the opportunity to further diversify our funding sources and extend the maturity of our debt portfolio and profile to match investment in infrastructure. The strong support for this transaction, given the challenging environment, is a reflection of the depth of the market, and investor confidence in MTN Nigeria’s long-term strategy, our management team and the overall telecoms industry.’’

Accordingly, the net proceeds from the bond issuance will partly be used to refinance existing debt and support the roll out of critical network infrastructure.

What you should know:

  • Recall that MTN Nigeria had earlier announced raising the sum of N73.5 billion through its Series III and Series IV CP Issuance Programme.
  • As regards the recent bond issuance, Chapel Hill Denham Advisory Limited acted as the Lead Issuing House while Stanbic IBTC Capital, DLM Advisory, FCMB Capital Markets, FBNQuest Merchant Bank, Rand Merchant Bank and Vetiva Capital Management acted as Joint Issuing Houses.
  • The book build process in respect of the transaction launched on 9th of April and was completed on 16th of April, 2021.

Afromedia Plc reports a loss after tax of N27.3 million in Q1 2021.

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

  • Turnover for the period was N65.9 million. (-16.1% YoY)
  • Cost of sales was N48.2 million. (+26% YoY)
  • Administrative expenses totalled N47.63 million. (+27.6% YoY)
  • Operating loss of N25.3 million was incurred for the period.
  • Loss after tax for the period was N27.3 million. (-1,076.2% YoY)

See link to results.

2021 Q1 Results: Portland Paints and Products Nigeria Plc reports a 131% increase in profit.

Portland Paints and Products Nigeria Plc released its unaudited results for the first quarter of the year (Q1, 2021).

  • Revenue from contracts with customers was N476.46 million. (+22% YoY)
  • Cost of sales was N317.6 million. (+24.2% YoY)
  • Administrative expenses totalled N86.7 million. (-22.7% YoY)
  • Profit from continuing operations was N14.92 million. (+131.5% YoY)
  • Earnings per share of 2 kobo (+133.3% YoY)

See link to results.

2021 Q1 Results: C & I Leasing Plc records a 55% decline in profit to N77.7 million.

C & I Leasing Plc released its unaudited results for the first quarter of the year (Q1, 2021).

  • Gross earnings for the period was N4.5 billion (-28.2% YoY)
  • Net lease rental income was N1.96 billion. (-30.8% YoY)
  • Net tracking income was N17.31 million. (-56.8% YoY)
  • Personnel expenses totalled N286.3 million. (-19% YoY)
  • Profit after tax was N77.7 million (-55.1% YoY)

See link to results.

Zenith Bank posts profit after tax of N53.06 billion in Q1 2021, as earnings per share prints N1.7

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

  • Net interest income after impairment charge was N79.3 billion. (+2.3% YoY)
  • Net fee and commission income of N31.4 billion. (+103.5% YoY)
  • Operating expenses of N44.25 billion. (+10.1% YoY)
  • Customers deposit totalled N5.7 trillion. (+27.2% YoY)
  • Profit after tax was N53.06 billion. (+5.01% YoY)
  • Earnings per share printed N1.7 Vs N1.6 YoY.

See link to results.

Access Bank profit grows by 28% to N52.5 billion in Q1 2021.

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

  • Net interest income after impairment charges was N81.4 billion. (+28% YoY)
  • Net fee and commission income of N30.73 billion. (+33.6% YoY)
  • Personnel expenses of N20.06 billion. (+2.2% YoY)
  • Profit for the period was N52.55 billion. (+28.4% YoY)
  • Earnings per share of N1.49 Vs N1.21 YoY.

See link to results.

GlaxoSmithKline Consumer Nigeria Plc reports a loss of N238.07 million in Q1 2021.

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

  • Revenue for the period was N3.5 billion. (-30.6% YoY)
  • Cost of sales was N2.4 billion. (-30.6% YoY)
  • Administrative expenses totalled N502.96 million. (+0.3% YoY)
  • Loss for the period was N238.07 million
  • Loss per share from continuing operations was 20 kobo.

See link to results.