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Nigerian Breweries Plc has recorded N81.88 billion gross profit in the first quarter ending March 31. This represented an 87 percent increase when compared with N43.88 billion posted in the first quarter ended March 31, 2023. The company disclosed this in its unaudited condensed interim financial statements sent to the Nigerian Exchange Ltd., in Lagos. ...
The Board of MRS Oil Nigeria Plc will, at the company’s Extraordinary General Meeting (EGM), request shareholders’ endorsement to voluntarily delist from the Nigerian Exchange Limited (NGX). The decision to exit from the NGX was contained in the notice of an Extraordinary General Meeting to be held in Lagos on May 21, 2024. The company ...
Investors in the Nigerian equities heaved a sigh of relief as the losing streak on the bourse was halted on Monday, April 22, 2024 as investors recorded a profit of N70bn at the end of trading. This followed the boom in the share value of stocks like Japaul Gold, GTCO, FTN Cocoa, Universal Insurance Company ...
Transcorp Power Plc (Transcorp Power), one of the electricity generating subsidiaries of Nigeria’s leading, listed conglomerate, Transnational Corporation Plc (Transcorp Group), has demonstrated impressive financial performance in its released Q1 2024 unaudited financial statements, for the period ended March 31, 2024. The Company recorded N67.86 billion in gross earnings, compared to N21.04 billion reported in ...
Investors in the Nigerian equities market ended the week’s trading with a N173 billion loss on Friday. This followed the slump in the share value of Unity Bank, FBNH, Tantalizer, and Deap Capital Management & Trust, amongst others on the trading floor today. After five hours of trading at the capital market, the equity capitalisation ...
Bearish sentiment persisted on banking stocks at the equity market on Friday, making the value of transactions traded on the floor of the Nigerian Exchange Ltd.(NGX) down by 2.60 per cent. Analysis of the market activities indicated trade turnover settled lower relative to the previous session. Specifically, investors transacted a total of 257.86 million shares valued ...
A financial expert, Mr Eddie Osarenkhoe, has advised the Federal Government to align its fiscal policy with the Central Bank of Nigeria’s monetary policy to achieve economic stability. Osarenkhoe, the immediate past President of Finance Houses Association of Nigeria (FHAN), gave the advice while speaking with newsmen on Wednesday in Ota, Ogun. He attributed the ...
Investors in the Nigerian equities market lost N457 billion at the end of trading on Wednesday. This followed the dip in the share value of Livestock Feeds, Computer Warehouse Group, International Energy Insurance, and FTN Cocoa Processors on the trading floor today. After five hours of trading at the capital market, the equity capitalisation crashed ...
The Nigerian stock market ended with a negative market breadth, closing 1,059.91 points lower. The NGX All-Share Index declined by 1.04 percent to close at 100,717.21 basis points, compared to the previous day’s loss of 0.53 percent to close at 101,777.12 basis points. The NGX Market CAP also recorded a loss of N598.69bn Naira terms. YTD, ...
The Nigerian stock market on Monday extended its losing streak by 0.53 percent due to losses in Tier-One banking stocks. Specifically, the market capitalisation, which opened at N57.864 trillion, shed N304 billion or 0.53 percent to close at N57.560 trillion. Similarly, All-Share Index fell by 0.53 percent or 537.44 points to settle at 101,777.12, compared ...
By Matthew Denis The Securities and Exchange Commission (SEC) has disclosed that the Capital Market Committee (CMC) for the first quarter of 2024 is scheduled to be held virtually on Thursday, 18TH April 2024 to discuss challenges, brainstorm ideas and make informed decisions about the progress of the Nigerian capital market. Critical issues about the ...
The performance of Nigeria’s consumer goods companies in 2023 showed increasing divergence in performance and profitability positions as the effect of challenging macroeconomic conditions continued to impact operational costs and profitability positions of consumer goods industry players. Despite these challenges, BUA Foods Plc demonstrated remarkable resilience, mirroring its strategy, and delivering double-digit growth. The spectre ...
Losses in the stocks of Dangote Sugar, Guaranty Trust Holding Company (GTCO), among others have further weakened the performance of the equity market of Nigerian Exchange Ltd. (NGX). Specifically, investors lost N412 billion or 0.71 percent, as the market capitalisation, which opened at N58.276 trillion, closed at N57.864 trillion. Similarly, the All-Share index shed 0.71 ...
Losses in the stocks of Dangote Sugar, Guaranty Trust Holding Company (GTCO), among others have further weakened the performance of the equity market of Nigerian Exchange Ltd. (NGX). Specifically, investors lost N412 billion or 0.71 per cent, as the market capitalisation, which opened at N58.276 trillion, closed at N57.864 trillion. Similarly, the All-Share index shed 0.71 ...
Zenith Bank Plc has announced its audited results for the year ended December 31, 2023, achieving a remarkable triple-digit growth of 125% in gross earnings from NGN945.6 billion reported in 2022 to NGN2.132 trillion in 2023. According to the audited financial results for the 2023 financial year presented to the Nigerian Exchange (NGX), this impressive ...
eTranzact International Plc on Monday announced a Profit After Tax (PAT) of N2.2 billion for the year ended Dec. 31, 2023, as against N1.18 billion posted in 2022. Company Secretary of eTranzact, Mr Isaiah Oreweme, said this in the company’s annual report and audited financial statements for the year 2023, sent to the Nigerian Exchange ...
Investors in the Nigerian equities market lost N220 billion at the close of trading on Monday. This followed the dip in the share value of some entities, including Abbey Mortgage Bank, Champion, Regalins and Chams on the trading floor today. After five hours of trading at the capital market, the capitalisation crashed to N58.2 trillion ...
Dangote Cement Plc has announced a final dividend of N30 per share for the period ended December 31, 2023. The dividend, which is subject to the appropriate withholding tax and approval, will be paid to shareholders of Dangote Cement Plc whose names appear in the Register of Members at the close of business on Monday, ...
StanbicIBTC Nigeria has declared to pay its shareholders a final dividend of N2.20 per ordinary share of 50k each, totaling N28.51 billion for the period ended Dec. 31, 2023. Company Secretary, StanbicIBTC, Mr Chidi Okezie announced this in a disclosure sent to the Nigerian Exchange Ltd. (NGX) on Thursday in Lagos. Okezie said that the ...
The NGX All-Share Index (ASI) declined for the second day running at the close of trading on Wednesday. The NGX-ASI has been declining since the Easter holidays ended with the market continuing a bearish movement. The ASI dropping 336.82 points to close at 104,181.32 points, down from the previous session’s close of 104,518.14 points. The ...
Cadbury Nigeria Plc has announced a loss of 3,374 per cent for the year ended Dec.31, 2023, as it recorded N19.09 billion loss, as against N583.1million posted in year 2022. Mrs Fola Akande, Company Secretary, Cadbury Nigeria stated this in the firm’s annual report and financial statement sent to the Nigerian Exchange Ltd(NGX) on Tuesday in ...
Geregu Power Plc has approved to pay its shareholders a dividend of N8 per ordinary share of 50k each, totaling N20 billion. Mr Akinleye Olagbende, General Counsel, Geregu Power, said this in the resolution of the company’s 12th Annual General Meeting(AGM) sent to the Nigerian Exchange Ltd.(NGX) in Lagos on Tuesday. Olagbende said that the ...
Transaction activities of the stock market on the Nigerian Exchange Ltd. (NGX) declined by 0.08 percent, making the market capitalisation close the week at N59.121 trillion. Specifically, investors lost a total of N48 billion in the four trading sessions, making the market capitalisation close at N59.121 trillion from N59.169 trillion at the beginning of the ...
