Meyer Plc grows profit by 109% to N9.5 million in 9M 2021.

Meyer Plc released its unaudited financial statements for the nine months period ended 30th of September, 2021.

  • Revenue for the period was N759.2 million. (+34% YoY)
  • Cost of sales was N504.7 million (+40% YoY)
  • Administrative expenses totalled N323.4 million. (-8% YoY)
  • Total assets for the period stood at N2.05 billion
  • Profit for the period was N9.47 million. (+109% YoY)
  • Earnings per share of 2 kobo. (+110% YoY)

See link to results.

Meyer Plc: Notice of Board Meeting

Meyer Plc has notified its shareholders, the investing public and other relevant stakeholders that it will be hosting a Board of Directors Meeting on Friday, October 8, 2021, by 10 am prompt.

This is according to a press statement signed by the company’s secretary, Kalu O. Kalu, and filed with the Nigerian Exchange Limited (NGX).

According to the notice, the board meeting is scheduled to enable the Directors consider and approve the company’s unaudited accounts for the third quarter of the year ending 30th of September, 2021.

Consequently the company will be observing a closed period from October 1, 2021 until 24 hours after the financial results have been released to the NGX and made public. During the closed period, all insiders and their connected persons are prohibited from trading (i.e buying, selling, transferring or otherwise dealing) in the company’s shares.

 

For more information about the disclosure, click HERE.

 

Meyer Plc approves interim dividend worth N796.9 million for 2021 half year.

The Board of Directors of Meyer Plc has approved the payment of an interim dividend of N1.50 per ordinary share of 50 kobo for the period ended June 30, 2021.

The dividend will be paid on all the outstanding 531,237,723 ordinary shares of the company, thereby raising the total amount to be paid by the firm to N796, 856,584.50

According to a disclosure signed by the company’s secretary, Kalu O. Kalu and filed with the Nigerian Exchange Group Limited (NGX), the dividends will be disbursed electronically on the 25th of August, 2021, to all qualified shareholders whose names appear on the Register of Members as at 13th of August, 2021.

To fast track the process, the company announced that it will close the register of its shareholders from 16th of August to 20th of August, 2021. The qualifying conditions for shareholders to participate are succinctly captured below;

  • Shareholders must have completed e-dividend registration.
  • Shareholders must have authorized the company’s registrar (Greenwich Registrars & Data Solutions Limited) to pay the dividends directly into the respective shareholder’s bank account.

What you should know:

  • Meyer Plc is a renowned manufacturer and marketer of high quality paint products in Nigeria. The firm had earlier reported a half year loss of N9.33 million for the period ended June 30, 2021
  • As at the period of reporting this, Meyer Plc share price currently trades at 59 kobo.