Custodian Investment Plc posts N12.69 billion profit in FY 2020. 

 Custodian Investment Plc released its full-year results for the year ended December 2020. 

  • Gross revenue during the year was N75.06 billion. (+22.2% YoY). 
  • Total claims paid during the year was N14.3 billion. (+45.8YoY). 
  • Profit Before Tax for the year was N13.67 billion. (+69.6% YoY)
  • Profit for the year was N12.69 billion. (+111% YoY). 
  • Earnings per share 196 kobo vs 97 kobo . (+102.1% YoY). 
  • A dividend of 45 kobo was proposed.

See link to results. 

 

2020 FY Results: Nestle posts  N39.2 billion, as earnings per share prints N49.47

Nestle Nigeria Plc released its audited results for the year ended December 2020.

  • Revenue increased to N287.1 billion. (+1.07% YoY)
  • Profit before income tax was N60.6 billion in 2020. (-15.5%)
  • Earnings per share for the period under review was N49.47. (-14.16%).
  • Nestle proposed a dividend of N35.50 for the year ended 2020.
  • The company share price of N1,450, as of when the result was published is 3.65% down year to date.

See link to results

2020 FY: WEMA Bank posts N5.06 billion profit after tax as earnings per share prints at N13.1. 

Wema Bank Plc released its full year 2020 results showing Net Interest Income of N31.04 billion, up by 19.4% from the N25.99 billion reported a year earlier. 

  • Net interest income after adjusting for loan impairments was N26.85 billion. (+35.24% YoY). 
  • Profit before tax was N6.96 billion. (+3.01% YoY). 
  • Earnings per share of N13.1 vs N13.5. (-2.9YoY).
  • No dividend announcement was made in their press release. 
  • The company’s share price of N0.7 as of when the result was released. (+1.45% YoY). 

See link to results. 

2020 FY: Zenith Bank post N230.6 billion profit after tax

Zenith Bank Plc released its full year 2020 audited results showing Net Interest Income of N299.7 billion up by 12.23% from the N267.03 billion recorded a year earlier. 

  • Net interest income after adjusting for loan impairments increased to N260.15 billion from N243 billion. (+7.1%YoY) 
  • Profit before tax was N255.9 billion, compared to N243.3 billion recorded in 2019. (+5.2%YoY) 
  • Earnings per share for the period under review is N7.34 from N6.65. (+10.4%YoY) 
  • final dividend of N2.70 was declared for every share of 50k each 
  • The company’s share price of N26, up +4.8% YTD. 

See link to results. 

Mutual Benefits Assurance Plc boosts post tax profits by 25.9%

Mutual Benefits Assurance Plc released its full-year results for the year ended December 2020.

  • Net Premium Income of N16.02 billion (+4.76% YoY).
  • Total claims paid during the year was N7.84 billion. (+32.22% YoY)
  • Underwriting profit of N4.01 billion. (-25.68% YoY)
  • Profit after tax for the year was N4.55 billion. (+25.92% YoY)
  • Earnings per share 40 kobo vs 36 kobo YoY.

See link to results.

2020 FY Results: Prestige Assurance Plc reports a 50.44% increase in profit.

Prestige Assurance Plc released its full-year results for the year ended December 2020.

  • Net Premium Income of N3.47 billion. (+17.44% YoY)
  • Total claims paid during the year was N1.62 billion. (+13.06 YoY)
  • Underwriting profit of N819.93 million. (+60.21% YoY)
  • Profit after tax for the year was N649.66 million. (+50.44% YoY)
  • Earnings per share 10.21 kobo vs 8.02 kobo YoY.
  • The Shareholder’s Fund of the Company increased by N3.8 billion representing 45.05% rise YoY.

See link to results.

John Holt falls deeper into losses

John Holt Plc released its first-quarter results for the period ending December 2020 showing revenue dropped 37.24% to N214 million compared to N341 million same period a year earlier.

  • Operating expense  – N139 million (-12.03% YoY)
  • Loss after tax of N367 million (-327% YoY)
  • Loss per share of 94.30 kobo (-326.7% YoY)
  • No dividend announcement was made in their press release.
  • The company share price of N0.50, down 196% YTD.

See link to results.

Sales volumes crash for Northern Nigeria Flour Mills Plc

Northern Nigeria Flour Mills Plc released its third-quarter results for the period ending December 2020

  • Revenue of N2.1 billion  (-16% YoY).
  • Cement volumes in metrics tonnes 7.834 vs 13,064
  • Operating expenses of N162 million (+90.5% YoY)
  • Loss per share -53 kobo versus -33 kobo YoY
  • The company share price of N8.75, up 29.82% YTD.
  • The stock is trading at 55% to its Net Book Value and a price-earnings multiple of N4.7

Bottom Line: The crash in volumes was the major reason for the losses. The company has lost more ground to the competition.  This company could be a target for a merger soon.

See link to results.

2020 FY Results: CHI Plc post N647 million in profit after tax

Consolidated Hallmark Plc released interim results for the full year ended December 2021. reported a Net Premium Income of N6.15 billion for the year ended December 2020. This represents a 12.49% increase from the N5.46 billion reported same period in 2019.

  • Net Premium Income N5.75 billion, +16.2% YoY
  • Net Claims incurred N2.1 billion vs N1.6 billion YoY
  • Underwriting Profit N1.97 billion vs N1.8 billion YoY
  • Profit after tax N647 million vs N600 million YoY +7.8%
  • Earnings per share 7.54kobo vs 8.55 kobo per share. –11.81% YoY.
  • Consolidated Hallmark Plc is yet to publish any detail on proposed dividends.
  • The company share price of 42 kobo as of when the result was released. +31.25% YTD.
  • P/E ratio based on EPS is 5.63X

See link to results

Global Spectrum Energy Services Plc post 77% post-tax decline in 2020 FY results

Global Spectrum Energy Services Plc released its 2020 FY results reporting a revenue of N2.23 billion representing a 9.42% drop from the N2.46 billion revenue reported a year earlier.

  • Operating expenses during the year was N326.88 million in 2019 compared to N295.68 million in 2019. +10.55% YoY
  • The company reported a profit after tax of N195.58 million in 2020 compared to N75.10 million in 2019. –76.66% YoY.
  • No dividend announcement was made in their press release.
  • The company share price of N4.19, unchanged YTD.

See link to results.