Cedar Advisory takes control of Union Diagnostic Plc

Union Diagnostic Plc issued a press release confirming that it has obtained court-ordered shareholder approval to transfer 1.34 billion shares to its majority shareholders Cedar Advisory Partners Limited.

  • The shares were exchanged at a price of 35 kobo per share (the current share price is 31 kobo per share) via a scheme of shares.
  • “The scheme shares 1,407,855,051 (One Billion, Four Hundred and Seven Million, Eight Hundred and Fifty-Five Thousand, FiftyOne) issued and fully paid ordinary shares of 50kobo each of the Company be transferred to Cedar Advisory Partners Limited; and Holders of the Scheme Shares be paid a cash consideration in the sum of ₦492,749,268 (Four Hundred and Ninety-Two Million, Seven  Hundred and Forty-Nine Thousand, Two Hundred and sixty eight Naira) by Cedar Advisory Partners Limited for the transfer of the said Scheme Shares.”
  • In the company’s 2020 FY results it disclosed Cedar Advisory owned just 20.04% (711, 916, 612) while Lifecare Partners was the majority shareholder at 29.21% or 1,038,000,000 shares.
  • This latest scheme of shares now gives Cedar Partners control of the company

Union Diagnostic reported a loss per share of 21 kobo up from 18 kobo per share.

FTN Cocoa facing imminent insolvency

FTN Cocoa released its 2020 full-year earnings revealing a loss after tax of N664 million (2019: N797.1 million). Earning per share for the period under review printed at 30kobo per share (2019: 36 kobo).

Key Highlights

  • The company is facing imminent insolvency after losses widened its negative equity to N1.1 billion up from N499.2 billion.
  • This means the company status as a going concern is threatened as it could close shop any time soon.
  • The company also acknowledged this threat explaining that “the company incurred an accumulated loss of N4,705.585 million as at the year ended 31 December 2020. At that date, the company had a negative shareholders fund of N1,163.286 million. This condition gives rise to a material uncertainty which may cast doubt on the company‟s ability to continue as a going concern.”
  • It then assured of a fundraising exercise that could resuscitate the company. “However there is an ongoing capital restructure
    programme which will bring in substantial foreign capital inflow to reposition the company.”
  • The company has a cash balance of just N48. 4 million

What FTN Cocoa does: The company is into the processing of cocoa beans and palm kernel into Cocoa Cake, Liquor, Butter, Powder, Palm Kernel Oil, and Palm Kernel cake. Cocoa Cake, Liquor, and butter are exported while Cocoa powder, Palm Kernel oil and Palm Kernel cakes are marketed locally to manufacturing companies.

See results

Julius Berger Plc post 8% decline in 2020 FY results

Julius Berger Plc released its 2020 FY results reporting a revenue of N242.46 billion representing an 8.35% decline from the N264.56 billion revenue reported a year earlier.

  • Operating expenses during the year was N41.34 billion in 2020 compared to N58.96 billion in 2019. –29.88% YoY
  • The company reported a profit after tax of N1.36 billion in 2020 compared to N10.30 billion profit after tax in 2019. –86.83% YoY.
  • It reported an earnings per share of N4.79 in 2020 compared to N8 earnings per share reported in 2019. –40.13% YoY.
  • No dividend announcement was made in their press release.
  • The company share price of N21, up 17.98% YTD.

See link to results.

Livestock Feeds Plc post 233% increase in 2020 FY post tax profits

Livestock Feeds Plc released its 2020 FY results reporting a revenue of N11.18 billion representing a 12.30% increase from the N9.96 billion revenue reported a year earlier.

  • Operating expenses during the year was N675.84 million in 2020 compared to N623.01 million in 2019. +8.48% YoY
  • The company reported a profit after tax of N354.12 million in 2020 compared to N106.35 million profit after tax in 2019. +232.97% YoY.
  • Earnings per share for the year printed at 11.80 kobo per share compared to 3.55 kobo per share. +232.39% YoY.
  • No dividend announcement was made in their press release.
  • The company share price of N2.55, up 83.45% YTD.

See link to results.

 

Fidson Healthcare Plc post 190% increase in 2020 FY post-tax profit

Fidson Healthcare Plc released its 2020 FY results reporting a revenue of N18.28 billion representing a 29.97% increase from the N14.06 billion revenue reported a year earlier.

  • Operating expenses during the year was N5.82 billion in 2020 compared to N3.92 billion in 2019. +48.50% YoY
  • The company reported a profit after tax of N1.18 billion in 2020 compared to N407.19 million profit after tax in 2019. +190.18% YoY.
  • No dividend announcement was made in their press release.
  • The company share price of N6.15, up 4.02% YTD.

See link to results.

 

Okomu Plc post 46% increase in 2020 FY post-tax profits

Okomu Plc released its 2020 FY results reporting a revenue of N23.41 billion representing a 24.08% increase from the N18.87 billion revenue reported a year earlier.

  • Operating expenses during the year was N7.19 billion in 2020 compared to N5.61 billion in 2019. +28.14% YoY
  • The company reported a profit after tax of N7.39 billion in 2020 compared to N5.05 billion profit after tax in 2019. +46.30% YoY.
  • It reported an earnings per share of N7.74 in 2020 compared to N5.29 earnings per share reported in 2019. +46.31% YoY.
  • No dividend announcement was made in their press release.
  • The company share price of N93, up 2.20% YTD.

See link to results.

 

NCR Nigeria Plc post N156.8 million post-tax profits in 2020 FY results

NCR Nigeria Plc released its 2020 FY results reporting a revenue of N5.13 billion representing a 15.53% decline from the N6.07 billion revenue reported a year earlier.

  • Operating expenses during the year was N186.58 million in 2020 compared to N660.95 million in 2019. –71.77% YoY
  • The company reported a profit after tax of N156.83 million in 2020 compared to N56.50 million loss after tax in 2019.
  • It reported an earnings per share of N1.45 in 2020 compared to N8.79 loss per share reported in 2019.
  • No dividend announcement was made in their press release.
  • The company share price of N3.12, up 59.18% YTD.

See link to results.

 

UACN Plc post 28% decline in 2020 FY post-tax profits

UACN Plc released its 2020 FY results reporting a revenue of N81.59 billion representing a 3.02% increase from the N79.20 billion revenue reported a year earlier.

  • Operating expenses during the year was N13.11 billion in 2020 compared to N13.03 billion in 2019. +0.64% YoY
  • The company reported a profit after tax of N3.86 billion in 2020 compared to N5.35 billion in 2019. –27.82% YoY.
  • It reported an earnings per share of N85 in 2020 compared to N132 earnings per share reported in 2019. –35.61% YoY.
  • No dividend announcement was made in their press release.
  • The company share price of N8.75, down 17.45% YTD.

See link to results.

 

NAHCO Plc post 27% decline in 2020 FY post-tax profits

NAHCO Plc released its 2020 FY results reporting a revenue of N7.33 billion representing a 26.66% decline from the N9.99 billion revenue reported a year earlier.

  • Operating expenses during the year was N2.37 billion in 2020 compared to N2.53 billion in 2019. -6.40% YoY
  • The company reported a profit after tax of N171.31 million in 2020 compared to N717.20 million in 2019. –76.11% cut YoY.
  • It reported an earnings per share of 10 kobo in 2020 compared to 44 kobo earnings per share reported in 2019. –77.27% YoY.
  • No dividend announcement was made in their press release.
  • The company share price of N2.18, down 5.22% YTD.

See link to results.

 

 

 

 

 

SAHCO Plc post 23% post-tax increase in 2020 FY results

SAHCO Plc released its 2020 FY results reporting a revenue of N6.98 billion representing an 8.94% decline from the N7.67 billion revenue reported a year earlier.

  • Operating expenses during the year was N2.37 billion in 2020 compared to N2.58 billion in 2019. –8.07% YoY
  • The company reported a profit after tax of N639.10 million in 2020 compared to N446.53 million in 2019. +43.13% cut YoY.
  • It reported an earnings per share of 47 kobo in 2020 compared to 33 kobo earnings per share reported in 2019. +42.42% YoY.
  • No dividend announcement was made in their press release.
  • The company share price of N2.88, down 10% YTD.

See link to results.