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Story behind the figures

Honeywell Flour Mills Plc: A tough year

Honeywell Flour Mills Plc: A tough year

By Folakemi Emem-Akpan Introduction Honeywell Flour Mills Plc went the way of most other Nigerian companies in 2023, recording lower turnover. It went one step further and recorded downright end of the year losses. Because of the losses, the company did not have good profitability ratios and seems to be floundering. All in all, it ...

Story behind the figures

PZ Cussons Plc: A commendable outing

Story behind the figures

University Press Plc: Slow-paced profitability

Story behind the figures

Guinness Nigeria: Increase in finance cost, cost of sales erode profit

Story behind the figures

NGX Group: Weakened revenue, high operating cost downsize profit

Story behind the figures

FBN Holdings: Significant growth in gross earnings, others thrust milestone profits

Story behind the figures

TotalEnergies Marketing Nigeria: Lifted cost pressures lower profit

By Philemon Adedeji TotalEnergies Marketing Plc delivered a significant increase in dividend payout to shareholders in 2022 Financial year (FY) but lifted cost pressures comprising of cost of sales and finance cost lowered its profit generation in the period under review. The petroleum marketing company announced N25 dividend to shareholders amid per cent drop in ...

Story behind the figures

Amid macroeconomic headwinds, Seplat Energy records strong performance in revenue

By Philemon Adedeji Seplat Energy Plc, a leading Nigerian independent energy company listed on both the Nigerian Exchange Limited (NGX) and London Stock Exchange (LSE), in its audited results ended December 31, 2022, reported highly impressive performance across its major business segment to keep the company maintaining its position as one of the leading energy ...

Story behind the figures

FY 2022: Access Holdings, Zenith Bank, others report N33.72trn customers deposit

By Philemon Adedeji A total of six banks customers deposits rose significantly to N33.711 trillion in full year 2022, reflecting an increase of 27 per cent from N26.52 trillion reported in 2021 financial year, this information provided is according to Nigerian NewsDirect investigation . The six financial institutions are: Access Holdings, Zenith Bank plc, United ...

Story behind the figures

Zenith Bank sustains growth trajectory with double-digit growth in gross earnings

By Philemon Adedeji Zenith Bank plc, a leading multinational service provider based in Nigeria, and listed on the Nigerian Exchange Limited (NGX), in its audited financial results ended December 31st, 2022 delivered an impressive performance which resulted double-digit growth in gross earnings, to keep maintaining its position as one of the leading Tier-1 banks in ...

Story behind the figures

Nem Insurance: Gross Premium Income, others boost profit

By Philemon Adedeji Nem Insurance Company (Nigeria) plc, a listed Company on the Nigerian Exchange Limited (NGX) that offers all classes of life and non-insurance products to the personal and corporate sectors in Nigeria, in its audited financial statement submitted to the Nigerian Exchange Limited (NGX), the group delivered all-round impressive performance across its major ...

Story behind the figures

Ardova reports worst performance in 10 years

By Philemon Adedeji Despite growing revenue by 19.5per cent year-on-year (YoY), Ardova Plc reported N7.61 billion loss in its unaudited result & accounts for the year ended December 31, 2022 from N3.85 billion reported in the audited financial statement for period ended December 31, 2021. The reported loss is the company’s worst performance since the ...

Story behind the figures

Unilever Nigeria reports highest profit in four years

By Philemon Adedeji Despite challenging macroeconomic conditions, Unilever Nigeria Plc, a publicly listed company with trading and manufacturing interest in the consumer goods market has recorded highest profit in four years in its unaudited financial results ended December 31, 2022. The Consumer goods maker reported a huge Profit After Tax (PAT) of N5.993 billion in ...

Story behind the figures

Africa Prudential sustains profitability, earnings, PAT, PBT, others

By Philemon Adedeji Africa Prudential Plc, a leading financial services in Nigeria providing innovative solution in share registration, listed on the Nigerian Exchange Limited (NGX), in it’s audited financial statement for the period ended December 31, 2022, the group delivered all-round impressive performance across all its major business segments such as gross earnings, Profit After ...

Story behind the figures

Hike in management expenses denies NGX Group profit, dividend

By Philemon Adedeji Nigerian Exchange Group Plc, (NGX Group) a leading integrated market infrastructure provider in Africa, in its audited financial statement for the period ended December 31, 2022, the group Profit before Income Tax recorded declined to N823.0 million in FY 2022 from N2.4 billion in the corresponding period in 2021. The decline in ...

Story behind the figures

Flour Mills of Nigeria grows revenue 35%, amid impressive performance

By Philemon Adedeji Flour Mills of Nigeria Plc (FMN), Nigeria’s leading food and agro-allied business, in its unaudited nine months (“9M”) financial results ended December 31, 2022, shows remarkable revenue growth. Continuous product innovation and effective route-to-market strategies were largely responsible for the continued solid financial performance across the Group’s core business segments with the ...

Story behind the figures

Guinness Nigeria records 54% decline in profit, amid weak performance

By Philemon Adedeji Amid macroe conomics headwinds, Guinness Nigeria plc, a listed company on the Nigerian Exchange Limited (NGX), known as a subsidiary of Diageo Plc, in its unaudited financial results ended December 31st, 2022 shows week performance in most of its major parameters. Guinness Nigeria reported a 54.52 per cent decline in profit to ...

Story behind the figures

Q3 2022: Amid operational headwinds, Dangote Cement grows revenue by 15.2%

By Philemon Adedeji Multinational Cement manufacturing company, Dangote Cement, in its unaudited financial statement ended September 30th, 2022, submitted to Nigerian Exchange Limited (NGX), the group revenue reported for the period moved stronger amid operational headwinds. “Dangote Cement remains resolute in transforming Africa, while creating sustainable value for their stakeholders.” Specifically, the analysis of the ...

Story behind the figures

Unilever: Resurgence in revenue, return investment to shareholders

Philemon Adedeji The financial year ended December 31, 2021 was a recovering year for Unilever Nigeria Plc as the global and domestic economy emerged from the COVID-19 pandemic. However, investors needed to be cautious buying into the company’s stock, mainly due to the increasing price competition in the Home and Personal Care (HPC) segments from ...

Story behind the figures

FCMB Group sustains profitability, earnings, PAT, PBT, Assets, despite macroeconomic headwinds

By Philemon Adedeji First City Monument Bank (FCMB), in its unaudited financial statement for the period ended September 30th, 2022, submitted to the Nigerian Exchange Limited (NGX), delivered all-round impressive performance across its major business line, such as gross Earnings, Profit After Tax (PAT), Profit Before Tax (PBT), Assets, amid macroeconomic headwinds. Specifically, according to ...

Story behind the figures

FBN Holdings: Growth in customers loan thrust interest income, PBT, amid increase in MPR by CBN

By Philemon Adedeji First Bank Holding of Nigeria (FBNH), in its unaudited financial results for the period ended September 30th, 2022, submitted to the Nigerian Exchange Limited (NGX), saw its loan and advances increase significantly that it impacted on interest rate and profit generated in the period under review. Specifically, income from loans and advances ...

Story behind the figures

FMN maintains upward trajectory as revenue up 38%, despite challenges in macroeconomic environments

By Philemon Adedeji Flour Mills of Nigeria, a listed company on the Nigerian Exchange Limited (NGX) has reported solid performance in its unaudited half year results ended September 30th, 2023. The group reported upward performance across its business segment to continue to maintain its position as a leading agro-allied company. According to the analysis, the ...

Story behind the figures

Flour Mills of Nigeria: Revenue up 38%, despite challenges in macroeconomic environment

By Philemon Adedeji Flour Mills of Nigeria, a listed company on the Nigerian Exchange Limited (NGX) have reported solid performance in its unaudited half year results ended September 30th, 2023, the group reported upward performance across its business segment to continue to maintain its position as a leading agro-allied company. According to the analysis, the ...

Story behind the figures

Lafarge Africa grows revenue by 23.1%, amid challenges in industries

By Philemon Adedeji The Cement manufacturing company, Lafarge Africa Plc have delivered impressive performance in its unaudited financial results for the period ended September 30th, 2022. The group reported a strong fundamental growth in its major parameters such as, Revenue, Profit Before Tax (PBT), Profit After Tax (PAT), Assets and others despite challenges in the ...

Story behind the figures

Wema Bank maintains growth trajectory, gross earnings, among others amid inflationary pressure

By Philemon Adedeji The Nigerian commercial bank, Wema Bank plc have delivered double-digit growth in gross earnings in it’s unaudited financial statement for the period ended September 30th, 2022, submitted to the Nigerian Exchange Limited (NGX), The group maintained growth trajectory across major key indicators such as Profit After Tax (PAT), Profit Before Tax (PBT), ...

Story behind the figures

GTCO maintains growth trajectory, PBT, assets, despite numerous challenges in macroeconomic environments

By Philemon Adedeji Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) in its Unaudited Consolidated and Separate Financial Statements for the period ended September 30, 2022, submitted to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE), still maintained growth trajectory across all key parameters such as Profit Before Tax (PBT), Profit After ...

Story behind the figures

UBA sustains profitability, gross earnings, PBT, PAT, others amid severe challenges in banking sector

By Philemon Adedeji A leading Pan-African financial institution, United Bank of Africa (UBA), have delivered all-round impressive performance for it’s third quarter financial results (Q3) ended September 30th, 2022, recorded a significant improvement across key indicators such as Gross Earnings, Profit Before Tax , Profit After Tax , Total Assets, amid severe challenges in banking ...

Story behind the figures

Geregu Power suffers decline in profits over weak revenue, hike in finance cost

By Philemon Adedeji Geregu Power plc in its unaudited nine months ended September 30, 2022 has reported drop in profit amid weak revenue and interest rate on Interest expense on bank loan and Interest expense on medium term bond. The results showed revenue of N39 billion in nine months of 2022, compared with N54 billion ...

Story behind the figures

Fidelity Bank declares first-time interim dividend amid impressive performance

Fidelity Bank Plc recorded an impressive performance in its audited half year (H1) ended June 30, 2022 financial statement that translated into first-time interim dividend payout to shareholders. The declared 10 kobo per 50 kobo ordinary share in the period under review delights shareholders and it is reflected in its stock price appreciation on the ...

Story behind the figures

Access Corporation sustains profitability, assets, despite economic challenges

By Philemon Adedeji Access Corporation in its audited half-year financials results ended June 30, 2022,recorded significant improvements across key performance indicators, such as total assets, profit & loss figures despite economic challenges. The result is on the back of double-digit inflation rate when businesses and their consumers have had to deal with rising cost of ...

Story behind the figures

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