Julius Berger profit after tax surges by over 500% to N2.83 billion in Q1 2021

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

  • Revenue for the period was N71.2 billion. (+27.3% YoY)
  • Cost of sales was N58.2 billion. (+28.6% YoY)
  • Administrative expenses totalled N9.09 billion. (+0.8% YoY)
  • Operating profit of N5.15 billion. (+286.3% YoY)
  • Profit for the period was N2.83 billion. (+585.4% YoY)
  • Earnings per share of N1.52 Vs N0.72 YoY.

See link to results.

May and Baker Nigeria Plc grows profit by 478% to N247.4 million in Q1 2021.

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

  • Revenue for the period was N2.7 billion. (+47.8% YoY)
  • Cost of sales was N1.56 billion. (+11.8% YoY)
  • Administrative expenses totalled N211.2 million. (+178.3% YoY)
  • Operating profit of N418.98 million. (+482.2% YoY)
  • Profit for the year was N247.4 million. (+478% YoY)
  • Earnings per share of 14 kobo Vs 2 kobo YoY.

See link to results.

United Capital grows profit by 67% to N1.66 billion in Q1 2021.

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

  • Gross earnings for the period was N3.12 billion (+62.6% YoY)
  • Fee and commission income of N1.3 billion. (+132.7% YoY)
  • Net operating income was N3.1 billion. (+64.4% YoY)
  • Total expenses of N1.15 billion. (+54.2% YoY)
  • Profit for the period was N1.66 billion. (+67.3% YoY)
  • Earnings per share of N1.11 Vs N0.66 YoY.

See link to results.

NEM Insurance Plc appoints Idowu Semowo as new Chief Financial Officer

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NEM Insurance Plc has announced the appointment of Mr Idowu Semowo as its new Chief Financial Officer (CFO) effective from 1st of February, 2021.

This is according to a disclosure signed by the firm’s secretary, Olajumoke Philip-Akede and made available on the website of the Nigerian Exchange Group Plc (NGX), as seen by Nairametrics.

As part of his responsibilities, Idowu will support the Board in driving the Group’s strategic vision and harnessing greater wealth building opportunities for shareholders. Sequel to this, the board expressed optimism and trust in the capability of the new CFO to deliver.

Profile

Mr Idowu is a financial industry expert with over thirty years of experience in banking, stock broking and auditing, having worked for firms like Universal Trust Bank, MBC International Bank and Kinley Securities Limited, among others.

He is a fellow of both the Institute of Chartered Accountants of Nigeria and the Chartered Institute of Bankers of Nigeria, and an Associate of the Chartered Institute of Stockbrokers of Nigeria [ACS].

What you should know:

  • NEM Insurance Plc is one of the oldest financial institutions in Nigeria. It started insurance business in Nigeria in 1948 and it currently offers life and non-life insurance services.
  • The firm recently posted a profit after tax of N5.08 billion in FY 2020, indicating a surge of about 112.3% YoY.

 

For more information about the recent appointment, click HERE.

Valentine Ozigbo and Saratu Umar retire as Directors of Transcorp Hotels Plc.

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Transcorp Hotels Plc, a subsidiary of Transnational Corporation of Nigeria, has notified the public of the retirement of two of its Directors- Mr Valentine Ozigbo and Hajia Saratu Umar.

According to a disclosure signed by the company’s secretary, Chike Anikwe and sent to the Nigerian Exchange Group Plc, the recent action was communicated to relevant stakeholders during the company’s recently concluded Annual General Meeting (AGM) held on the 26th of April, 2021.

About the retirees

Mr Valentine Ozigbo is an astute businessman cum politician, with over two decades of experience in banking and hospitality. He was a former president and CEO of Transnational Corporation of Nigeria Plc and Member of Nigeria Institute of Directors. He was appointed into the board of Transcorp Hotels Plc as Non-Executive Director in 2019.

Mr Ozigbo is an alumnus of the prestigious University of Lancaster and the University of Nigeria, Nsukka where he obtained an MBA and BSc degree respectively.

Hajia Saratu Umar is an accomplished banker, economist and strategist with over 25 years of working experience. She was appointed into the board of Transcorp Hotels Plc as Independent Non-Executive Director in 2016. Prior to joining Transcorp, she was the former Chief Executive Officer & Secretary at Nigerian Investment Promotion Commission and Secretary of Nigerian Export – Import Bank.

She obtained an MBA and a BSc degree in Economics from the prestigious Ahmadu Bello University.

What you should know:

  • Transcorp Hotels Plc is the hospitality subsidiary of Transnational Corporation of Nigeria Plc. The Company owns and operates Transcorp Hilton Abuja, and Transcorp Hotels Calabar Limited.

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

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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.

Livestock Feeds Plc Profit after tax surge by over 300% to N176.54 million in Q1 2021.

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

  • Revenue from contracts with customers was N3.35 billion. (+36% YoY)
  • Cost of sales was N2.95 billion. (+32.5% YoY)
  • Administrative expenses totalled N104.2 million. (+28.4% YoY)
  • Operating profit of N245.9 million. (+138.6% YoY)
  • Profit after tax was N176.54 million. (+335.9% YoY)
  • Earnings per share 6kobo Vs 1kobo YoY.

See link to results.

Pharma Deko Plc records a loss of N6.5 million in Q1 2021.

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

  • Revenue for the period was N150.5 Million. (+65% YoY)
  • Cost of sales was N110.95 million. (+59% YoY)
  • Administrative expenses totalled N41.3 million. (-51% YoY)
  • A loss after tax of N6.5 million was incurred.
  • Total assets stood at N1.95 billion (-8% YoY)
  • Loss per share of -3 kobo Vs -40 kobo YoY.

See link to results.

Chemical and Allied Products Plc boosts Cost of sales by 22% in Q1

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Chemical and Allied Products Plc (CAP ) released its unaudited results for the first quarter of the year (Q1, 2021).

  • Revenue for the period was N2.09 billion. (-9% YoY)
  • Cost of sales was N1.39 billion. (+22% YoY)
  • Administrative expenses totaled N413.4 million. (-2% YoY)
  • Profit for the period was N203.4 million. (-55% YoY)
  • Earnings per share of 29 kobo Vs 65 kobo YoY.
  • Net asset per share was N5.64

See link to results.

Fidelity Bank Plc profit surges by 64% to N9.6 billion in Q1 2021.

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

  • Net interest income for the period was N28.8 billion. (+17.1% YoY)
  • Net fee and commission income of N4.17 billion. (+4% YoY)
  • Operating expenses totaled N22.96 billion. (+6.2% YoY)
  • Profit for the period was N9.6 billion (+63.7% YoY)
  • Earnings per share of 33 kobo Vs 20 kobo YoY.

See link to results.