Caverton Offshore Support Group reports profit after tax of N520 million in Q1 2021.

Caverton Offshore Support Group Plc released its unaudited results for the first quarter of the year (Q1, 2021).

  • Revenue for the period was N8.2 billion. (+3.8% YoY)
  • Operating profit for the period was N2.04 billion. (+124.2% YoY)
  • EBITDA for the period was N2.5 billion. (+78.6% YoY)
  • Profit before tax was N728 million. (+25.9% YoY)
  • Earnings per share of 16 kobo Vs 13 kobo YoY.
  • Net profit margin of 6% Vs 5% YoY.

See link to results.

Okomu Oil proposes dividend worth N6.7 billion for shareholders.

The Board of Okomu Oil Palm Company Plc has proposed a dividend of N6.7 billion to its shareholders for the period ended 31st of December, 2020.

The company’s Board made this announcement in a notification published on the website of the Nigerian Exchange Group Plc (NGX), stating that a dividend of N7 per share will be paid on all the issued 953,910,000 ordinary shares of the company.

All things being equal, the dividends will be paid electronically to qualified shareholders on 26th of May, 2021. Qualified shareholders are those, whose names appear on the Register of Members as at close of business on 13th of May, 2021. Other qualifying conditions are;

  • Shareholders must have completed the e-dividend registration.
  • In addition, shareholders must have mandated the Registrar (Cardinalstone Registrars Limited) to pay their dividend directly into their bank accounts.

What you should know:

  • Okomu Oil had earlier reported a profit after tax of N7.8 billion in FY 2020.
  • The firm closed trading for the week ended 7th of May, 2021 with a share price of N103.

Ardova Plc confirms appointment of Oladeinde Nelson-Cole as secretary.

Ardova Plc, an indigenous and integrated energy company, has confirmed the appointment of Mr Oladeinde Nelson-Cole as its Secretary/ General Counsel effective from 1st of April, 2021.

According to a notice sent to the Nigerian Exchange Limited, Mr Nelson-Cole was first appointed as Secretary on 29th of July 2019, albeit in an acting capacity, in a bid to fill the vacuum left by the departure of his predecessor, Mr Akinleye Olagbende.

Sequel to his outstanding performance in an acting capacity, his appointment was finally ratified by the board. As the Company’s Secretary/General Counsel, Mr Nelson-Cole will continue to guide the Board of the Company in ensuring strict compliance with regulatory and statutory requirements.

Profile

Mr. Nelson-Cole is a lawyer with over 14 years of experience with proven expertise in company secretarial, corporate compliance and general legal practice. He is an alumnus of the Lagos State University. Prior to joining Ardova Plc, Mr. Nelson-Cole was a Senior Associate in the law firm of RouQ and Co.

For more information about the appointment, click HERE.

   Cadbury Nigeria Plc set to hold 56th Annual General Meeting (AGM) on June 16.

The Board of Cadbury Nigeria Plc has announced that it will be hosting its 56th Annual General Meeting on the 16th of June, 2021.

This is according to a notification signed by the company’s secretary, Fola Akande and seen by Nairametrics. Sequel to this, the following issues will be discussed;

  • The audited financial statement for the year ended December 31, 2020, and the report of its Directors, auditor, and the audit committee.
  • The firm’s proposed dividend will be considered and officially declared.
  • 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.

What you should know:

  • Cadbury Nigeria Plc had earlier reported a profit after tax of N931.83 million in FY 2020, and subsequently proposed a dividend of 18 kobo per share
  • In line with CAC guidelines, attendance at the AGM will be by proxy. Sequel to this, a list comprising of five (5) representatives authorized to represent shareholders, have been made available.
  • If approved, dividends are expected to be paid to qualified shareholders on 17th of June, 2021.
  • The link for the Annual General Meeting will be made available on the company’s website: www.cadburynigeria.com

For more information about the AGM, click HERE.

FCMB Group Plc appoints Muibat Ijaiya as Director.

First City Monument Bank (FCMB) Group Plc has announced the appointment of Ms. Muibat I. Ijaiya into its board as an Independent Non-Executive Director, following the obtaining of a regulatory approval from the Central Bank of Nigeria.

The Group in a notice signed by its secretary, Olufunmilayo Adedibu expressed confidence in the abilities of the newly appointed Director, given her wealth of experience and profile. An excerpts of the notice read: ‘’ Muibat continues to work in advancing the science of strategy execution, particularly for organizations in complex industries and public institutions focused on transforming key sectors, and the Board is assured that her wealth of experience would be of great impact to the FCMB Group.’

Profile

Muibat Ijaiya is a Strategy Development and Execution expert with over 19 years of consulting and advisory experience. Prior to her appointment, she was a partner at Strategy Management Partners. She had also worked for various reputable firms such as Ernst and Young (UK), Palladium Group (UK and Middle East) among others.

She is an alumna of University of Surrey and Warwick Business School where she obtained BSc and MSc degrees respectively. She also holds an MBA from the University of Manchester.

For more information about her appointment, click HERE.

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.

Courteville Business Solutions Plc proposes final dividend of 3 kobo per share for FY 2020.

The Board of Directors of Courteville Business Solutions Plc has proposed a final dividend of 3 kobo for every share of 50 kobo held by shareholders for the year ended 2020.

This is according to a disclosure made available on the website of the Nigerian Stock Exchange (NSE), as seen by Nairametrics.

According to the notice, the proposed dividend will be paid electronically to qualified unit holders on the 20th of May, 2021. Qualified shareholders are those, whose names appear in the Register of member as at the close of business on 6th of May, 2021. Other qualifying conditions are;

  • Shareholders must have completed the e-dividend registration.
  • Unit holders must have mandated the Registrar (Crescent Registrars Limited) to pay their dividends directly into their bank accounts.

Consequently the firm’s Register will be closed from 6th to 21st of May, 2021. The firm will hold its Annual General Meeting on 20th of May, 2021 to consider and approve the proposed dividend.

What you should know:

  • Courteville Business Solutions Plc is a Nigeria-based firm specialized in offering e-business solutions and advisory services. Some of its line of service include; AutoReg MVAD, e-commerce, education, e-Government and Webpeople.
  • The firm had earlier posted a profit after tax of N153.6 million in FY 2020.

 

For more information about the disclosure, click HERE

2020 FY Results: UPDC Real Estate Investment Trust records over 500% growth in Profit after tax.

UPDC Real Estate Investment Trust released its audited full-year results for the period ended 31st of December, 2020.

  • Total revenue for the period was N2.42 billion. (+2,279% YoY)
  • Rental Income was N1.5 7 billion. (-7.1% YoY)
  • Operating expenses totalled N480.5 million. (-11.5% YoY)
  • Profit after tax was N1.93 billion. (+530.1% YoY)
  • Earnings per unit of 72 kobo. (+523.5% YoY)

See link to results.