UAC of Nigeria Plc records a 64% dip in profit to N669 million in Q1 2021.

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

  • Revenue for the period was N22.02 billion. (+12.7% YoY)
  • Operating expenses totalled N2.98 billion. (-6.1% YoY)
  • Profit for the period was N669 million. (-64.1% YoY)
  • EBIT margin of 5.2% (+60bps)
  • Earnings per share from continuing operations of 12 kobo Vs 27 kobo YoY

Commenting on the result, the Group Managing Director of the company, Fola Aiyesimoju said: “Growth across our operating platforms translated to 13% revenue growth. Operational improvement initiatives resulted in a 6% reduction in operating expenses which supported marginal operating profit growth in spite of a 5% decline in gross profit. Raw material cost escalation remains a key concern and as such we are carefully assessing pricing. Our Paints business suffered production disruptions which impacted performance and our interest income declined materially in light of the low interest rate environment. These together with losses from our associates UPDC and MDS resulted in a 42% decline in profit from continuing operations. Performance in Q1 2020, being the comparative quarter last year, benefited from N717 million in exceptional income from discontinued operations relating to net gains from the divestment of a stake in MDS which impacts quarter on quarter comparisons.”

For more information about the result, click HERE.

Abbey Mortgage Bank profit after tax surge by 132% to N60.9 million in Q1 2021

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

  • Net interest income for the period was N315.5 million. (+33.3% YoY)
  • Fees and commission income of N28.15 million. (+127,872% YoY)
  • Net operating income of N370.71 million. (+52.6% YoY)
  • Customers deposit totalled N23.5 billion. (+60.6% YoY)
  • Profit after tax was N60.9 million. (+131.8% YoY)
  • Earnings per share of 4 kobo Vs 2 kobo YoY

See link to results.

Premier Paints reports a loss of N10.2 million in Q1 2021.

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

  • Revenue for the period was N21.6 million. (-32.4% YoY)
  • Cost of sales for the period was N17.15 million. (-30% YoY)
  • Administrative expenses totalled N12.3 million. (+2.9% YoY)
  • A loss after tax of N10.16 million was incurred during the period.
  • Loss per share of -8 kobo Vs -6 kobo YoY.

See link to results.

FBN Holdings Profit decline by 39% to N15.6 billion in Q1 2021

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

  • Net interest income after impairment charge was N39.62 billion. (-21.6% YoY)
  • Net fee and commission income of N28.43 billion. (+36.8% YoY)
  • Operating expenses of N42.02 billion. (+0.2% YoY)
  • Profit for the period was N15.6 billion. (-39.3% YoY)
  • Earnings per share from continuing operations of 43 kobo Vs 64 kobo YoY.

See link to results.

FCMB Plc profit decline by 24% to N3.57billion in Q1 2021.

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

  • Net interest income for the period was N21.23 billion. (-8.2% YoY)
  • Net fee and commission income was N5.7 billion. (+12.05% YoY)
  • General and administrative expenses of N8.04 billion. (-0.2% YoY)
  • Profit for the period was N3.57 billion. (-24.4% YoY)
  • Earnings per share of 18 kobo Vs 24 kobo YoY.

See link to results.

Union Bank posts profit after tax of N6.21 billion in Q1 2021.

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

  • Net interest income after impairment charge was N10.19 billion. (-10.5% YoY)
  • Net fee and commission income was N3.06 billion. (-1.64% YoY)
  • Operating income of N24.39 billion. (+0.1% YoY)
  • Total expenses of N17.35 billion. (-3.7% YoY)
  • Profit after tax was N6.21 billion. (+3.2% YoY)
  • Earnings per share from continuing operations of N23 kobo Vs 21 kobo YoY.

See link to results.

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

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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.

Tripple Gee & Company Plc reports a loss of N19.8 million in Q1 2021.

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Tripple Gee & Company Plc released its unaudited results for the first quarter of the year (Q1, 2021).

  • Turnover for the period was N461.4 million. (+48.8% YoY)
  • Cost of sales was N400.5 million. (+89.1% YoY)
  • Administrative expenses totalled N25.9 million. (-41.7% YoY)
  • Operating profit of N34.99 million. (-35.2% YoY)
  • Loss after tax of N19.81 million was incurred
  • Loss per share for the period was 4 kobo

See link to results.

Fidson Healthcare Plc grows profit by 281.4% to N579.6 million in Q1 2021.

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

  • Revenue for the period was N6.3 billion. (+68.5% YoY)
  • Cost of sales was N3.48 billion. (+71.7% YoY)
  • Administrative expenses totalled N919.4 million. (+49% YoY)
  • Operating profit of N1.17 billion. (+111.5% YoY)
  • Profit for the period was N579.6 million. (+281.4% YoY)

See link to results.