Company Report
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NGX suspends trading in Oando shares amid financial reporting issues
The regulatory arm of the Nigerian Exchange Group, NGX RegCo, has suspended trading in the shares of Oando PLC effective today. This was disclosed in a notice to trading licence holders signed by the Head, Issuer Regulation Department, Godstime Iwenekhai, on Thursday. The Johannesburg Stock Exchange suspended trading in Oando shares in March due to its inability to meet the…
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Stock Price of Aradel Holdings drops by N336bn in first trading week of listing
Investors in Aradel Holdings Plc, have seen a loss of N336 billion of their investment in the first trading week of its debut listing on the Nigerian Exchange Limited (NGX). The company’s stock price depreciated by 11 per cent or N77.30 per share in the first week of trading activities to reduce its market capitalization from N3.05 trillion it was…
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Nine months 2024: United Capital records 93% growth in PBT
United Capital Plc on Wednesday on the Nigerian Exchange Limited (NGX) announced its unaudited financial results for nine months ended September 30, 2024 with about N18.73 billion profit before tax, about 93 per cent increase from N9.72 billion generated in nine months of 2023. The company’s gross earnings in nine months of 2024 stood at N28.17 billion, a growth of…
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Sustainability: Dangote Cement commits to carbon emission reduction for business optimisation
…Feeds vulnerable Communities, empowers Children, Widows As part of activities marking the 2024 Global Sustainability Week, leading Cement manufacturer, Dangote Cement Plc has reached out to vulnerable and deprived communities across its business operations with food items and unveiled skills acquisition and educational empowerment initiatives. This is just as the President/Chief Executive of Dangote Group, Aliko Dangote assured all stakeholders…
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Geregu Power declares N36.2bn profit in nine months
Geregu Power Plc on Thursday released its 2024 nine-month results, showing that pre-tax profits doubled to N36.2 billion. This compares to the N18.1 billion in pre-tax profits reported in the corresponding period of 2023. The company reported a profit after tax of N24.1 billion. When annualized, Geregu Power’s profits are around N32.1 billion, suggesting the company’s profits is growing at…
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PZ Cussons Nigeria declares N5.22bn loss over mounting operating expenses
PZ Cussons Nigeria Plc has announced N5.22 billion loss before tax in first quarter (Q!) ended August 2025 unaudited result and accounts as against N38.64billion reported in first quarter ended August 2024. The listed multinational company on the Nigerian Exchange Limited (NGX) declared N4.65 billion loss in Q1 2025 as against N8.64billion loss declared in Q1 2024. Meanwhile, cost of…
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Naira depreciation prompted sale of our subsidiaries – PZ Cussons
PZ Cussons Plc, the parent company of PZ Cussons Nigeria, has said the depreciation of the Naira is the major reason it has concluded plans to sell its African subsidiaries. Jonathan Myers, PZ Cussons’ Chief Executive Officer, who spoke while reviewing the company’s ‘Results for the year ended 31 May 2024’, said Nigerians are experiencing unprecedented levels of inflation and…
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Zenith Bank’s N289.38bn rights issue, public offer extended to September 23
Zenith Bank Plc on Monday, announced the extension of its ongoing N289.38 billiona rights issue and public offer which were previously scheduled to have closed on Monday, to September, 23, 2024. The bank announced this in a statement made available to WESTERNPOST. It explained that the two-week extension followed the receipt of approval from the Securities and Exchange Commission (SEC).…
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NCAA to resolve Dana Air refund concerns, partners NG Eagle
The Nigeria Civil Aviation Authority (NCAA) has revealed it is taking decisive action to address the refund concerns of passengers affected by the recent suspension of Dana Air’s operations. In a statement on Friday, the NCAA confirmed that to resolve these issues, it has engaged NG Eagle, a new partner of Dana Air, to manage the airline’s outstanding financial obligations…
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Minister of Aviation inspects key development projects at MMIA
The Honourable Minister of Aviation and Aerospace Development, Festus Keyamo, conducted an inspection tour of several key developmental and innovation projects at Murtala Muhammed International Airport (MMIA) on Friday. The inspection which took place on Wednesday, as highlighted on the Federal Airports Authority of Nigeria’s (FAAN) official X account, focused on the newly renovated E-Wing toilet and the extensive work…
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