Tag: Company Financial Results

2021 Q1 Results: Sterling Bank’s profit beat forecasts, surge by 16% to N2.4 billion.

Chidi Emenike Leave a comment

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

  • Net interest income for the period was N14.35 billion. (-7.1% YoY)
  • Net fees and commission income was N3.7 billion. (+25.1% YoY)
  • Operating income of N20.09 billion. (+0.6% YoY)
  • Total expenses of N15.82 billion. (-4.5% YoY)
  • Profit for the period was N2.4 billion. (+15.98% YoY)
  • Earnings per share of 8 kobo Vs 7 kobo YoY.

See link to results.

Berger Paints Nigeria Plc profit declines to N45 million in Q1 2021

Chidi Emenike Leave a comment

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

  • Revenue for the period was N1.19 billion. (+10% YoY)
  • Cost of sales was N617.8 million. (+24.1% YoY)
  • Administrative expenses of N300.17 million. (+6.3% YoY)
  • Operating profit of N79.8 million. (-32% YoY)
  • Profit for the period was N44.99 million. (-32% YoY)
  • Earnings per share of 16 kobo Vs 23 kobo YoY
  • Net assets per share of N11.01 Vs N10.8 YoY

See link to results.

Vitafoam Nigeria Plc posts profit of N1.4 billion in Q2 2020

Chidi Emenike Leave a comment

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

  • Revenue for the period was N10.7 billion. (+65.5% YoY)
  • Cost of sales was N6.9 billion. (+79.7% YoY)
  • Administrative expenses totalled N1.35 billion. (+11.8% YoY)
  • Operating profit of N2.14 billion. (+55.4% YoY)
  • Profit for the period was N1.4 billion. (+76.7% YoY)
  • Earnings per share of N2.17 Vs N1.30 YoY.

See link to results.

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

Chidi Emenike Leave a comment

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

Chidi Emenike Leave a comment

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.

Chidi Emenike Leave a comment

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

Chidi Emenike Leave a comment

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.

Chidi Emenike Leave a comment

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.

Chidi Emenike Leave a comment

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.