Wema Bank Plc posts N4.6 billion profit in FY 2020.

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Wema Bank Plc has released its full-year audited results for the period ended 31st of December, 2020.

  • Net interest income after adjusting for impairment charges was N25.2 billion. (+27% YoY)
  • Net fee and commission income of N8.4 billion. (+5.3% YoY)
  • Operating income of N42.05 billion. (-4.6% YoY)
  • Personnel expenses totaled N14.1 billion. (-5.3% YoY)
  • Profit for the year was N4.6 billion. (-12% YoY)
  • Earnings per share of 12 kobo Vs 14 kobo YoY.
  • Total shareholders fund of N59.31 billion (+7.14% YoY)
  • A final dividend of 4 kobo was proposed by the board.

See link to results.

LivingTrust Mortgage Bank proposes final dividend worth N50 million for shareholders.

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The Board of LivingTrust Mortgage Bank Plc has proposed a final dividend of N50 million 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 1 kobo per share will be paid on all the issued 5,000,000,000 ordinary shares of the company.

Ceteris paribus, the dividends will be paid electronically to qualified shareholders on 14th of June, 2021. Qualified shareholders are those, whose names appear on the Register of Members as at close of business on 21st of May, 2021. Other qualifying conditions are;

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

What you should know:

  • LivingTrust Mortgage Bank Plc earlier released its Q1 2021 results showing a profit after tax of N100.6 million.
  • As at the period of reporting this, LivingTrust Mortgage Bank Plc share currently trades at 68 kobo.

2020 FY Results: Smart Products Nigeria Plc posts profit after tax of N7.38 million.

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Smart Products Nigeria Plc released its full-year results for the period ended 31st of December, 2020.

  • Gross revenue for the year was N49.43 million. (-1% YoY)
  • Personnel expenses totalled N7.19 million. (-7.4% YoY)
  • Profit after tax was N7.38 million. (+36% YoY)
  • Earnings per share of 16 kobo Vs 12 kobo YoY.
  • Net assets per share was N2.06
  • A dividend of 10 kobo was declared.

See link to results.

Cadbury Nigeria Plc records a 62% decline in profit to N60.2 million in Q1 2021.

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

  • Revenue for the period was N8.9 billion. (+4.3% YoY)
  • Cost of sales was N7.4 billion. (+18.6% YoY)
  • Administrative expenses totalled N274.4 million. (-19.2% YoY)
  • Profit for the period was N60.2 million. (-62.2% YoY)
  • Earnings per share of 13 kobo Vs 34 kobo YoY.
  • Net assets per share was N7.34

See link to results.

BOC Gases Nigeria Plc records a 40% dip in profit to N60.2 million in Q1 2021.

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

  • Revenue for the period was N778.5 million. (-5.8% YoY)
  • Cost of sales was N427.6 million. (+5.3% YoY)
  • Operating profit of N107.6 million. (-6.01% YoY)
  • Administrative expenses totalled N142.5 million. (-10.7% YoY)
  • Profit after tax was N60.2 million. (-39.8% YoY)
  • Earnings per share of 14 kobo Vs 24 kobo YoY.

See link to results.

Ecobank Transnational Inc. Profit after tax increases by 23% in Q1 2021.

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Ecobank Transnational Incorporated released its unaudited results for the first quarter of the year (Q1, 2021).

  • Net interest income for the period was N95.35 billion. (+24% YoY)
  • Fee and commission income of N45.6 billion. (+19% YoY)
  • Operating income of N164.6 billion. (+15% YoY)
  • Operating expenses totalled N97.63 billion. (+3% YoY)
  • Profit after tax was N30.5 billion. (+23% YoY)
  • Earnings per share from continuing operations was 84 kobo Vs 71kobo YoY

See link to results.

Transcorp Plc profit surges exponentially by over 2,000% to N2.04 billion in Q1 2021.

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

  • Revenue for the period was N24.4 billion. (+58.8% YoY)
  • Cost of sales was N14.01 billion. (+38.3% YoY)
  • Administrative expenses totalled N3.7 billion. (+9.4% YoY)
  • Operating profit of N6.9 billion. (+67.3% YoY)
  • Profit for the period was N2.04 billion. (+2,426.5% YoY)
  • Earnings per share of N0.018. (+244.4% YoY)

See link to results.

Transcorp Group Plc announces appointment of 4 executives across the group.

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The Board of Transnational Corporation of Nigeria Plc (Transcorp) has announced the appointment of 4 key executives across the group, effective 22nd April 2021.

This is according to a disclosure signed by the company’s secretary, Chike Anikwe and published on the website of the Nigerian Stock Exchange (NSE). According to the press release, the new appointments cut across Transcorp Plc Group and its subsidiaries, Trans-Afam Power Limited and Transcorp Energy Limited.

Appointed Executives

Mr Victor Famuyibo will be joining the firm’s Board of Directors effective from the aforementioned date. Prior to joining the Board, Mr Famuyibo gained valuable experience with some multinational companies such as UAC Nigeria, Heineken and the Nigerian Breweries. He retired from the Nigerian Breweries as a Director of Human Resources and a member of the Board after 32 years of service.

Mallam Ahmadu Hamman Sambo was also appointed into the Board of Transcorp as a Director. He is a veteran with over three decades of experience spanning across private and public sectors in Nigeria. He served in various leadership capacities, occupying esteemed positions in public service, such as the Managing Director of NNPC Oilfield Services Limited, NIDAS Marine Limited and NNPC Pension Fund Limited among others.

Engr Vicent Ozoude was appointed as the MD/CEO of Trans-Afam Power Limited. Prior to joining the Transcorp Group, he was a Sales Director at General Electric Inc- Sub Saharan Africa. Engr Ozoude has over 20 years of experience in the power generation services sector.

Peter Ikenga was appointed as the MD/CEO of Transcorp Energy to lead the conglomerate integrated energy strategy with focus on gas, renewables and alternative energy. Prior to his appointment, he was a Refining Director for an indigenous oil and gas operator.

What Transcorp Plc is saying:

While commenting on the appointments, Mr Tony Elumelu, Chairman, Transcorp Group Plc, said: “Transcorp has made a succession of important recent business acquisitions, consolidating our position in the power, oil and gas sectors, demonstrating our commitment to Nigeria’s economy and the rapid advance in our integrated power strategy. We are delighted to complement these with further investment in human capital. These announcements illustrate the depth, diversity and quality of experience of our leaders, both executive and non-executive. Our Board and management team, led by the President/Group CEO, Mrs. Owen Omogiafo, are further capacitised to deliver our vision. Mr. Famuyibo, with his considerable experience in human resources, will be invaluable in working with management to deliver cutting edge employee management practices. Mallam Sambo brings crucial knowledge of the energy sector, further accelerating our integrated energy strategy”.

Transnational Corporation of Nigeria Plc is a public quoted conglomerate, with a diversified shareholder base of over 300,000. Some of its portfolio includes; Transcorp Hilton Abuja, Transcorp Hotels Calabar, Transcorp Power Ltd, Trans-Afam Power Ltd, Transcorp Energy and Aura by Transcorp Hotels.