Company Report
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Seplat Energy’s acquisition real gets industry recognition at NIE
Seplat Energy Plc has received wide recognition from the Nigerian energy industry and other international stakeholders for its recent completion of the Mobil Producing Nigeria Unlimited (MPNU) acquisition. Seplat Energy completed the deal on the acquisition of MPNU – renamed Seplat Energy Producing Nigeria Unlimited (SEPNU) from ExxonMobil in December 2024. The energy stakeholders applauded the Company at the ongoing…
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Dangote Cement cancels treasury shares on NGX
Dangote Cement Plc stock market price steadied at N480 on Friday as the cement maker cancelled its repurchased or treasury shares in the equities market of the Nigerian Exchange Limited (NGX). Following a successful share buyback program in 2024, the cement company has successfully cancelled its Treasury shares. The cement company had launched a series of share repurchase programs in…
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PZ Cussons Nigeria to convert $34.2m debt to equity
PZ Cussons Nigeria Plc has announced that its Board of Directors, after careful deliberation, has decided to convert $34.26 million of its outstanding loan into equity. In June 2022, PZ Cussons Holdings Limited (PZCH) loaned $40.26 million to PZ Cussons Nigeria PLC (PZCN) to help cover raw material and operational costs, which were difficult to manage due to currency shortages.…
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BREAKING: Nigerian Breweries reports N144.34bn loss in 2024
Nigerian Breweries Plc on Friday announced its audited full year ended December 31, 2024, result and accounts with N144.34 billion loss from N105.8 billion loss declared in 2023. The multinational company also declared a loss before tax of N182.42 billion in 2024 from N144.69 billion in 2023. About N157.59 billion net loss on foreign exchange transactions impacted on the company’s…
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Stock price of Dangote Cement appreciates by N1.36trn in one-week
The stock price of Dangote Cement Plc has appreciated by N1.36 trillion in one week and impacted on the overall market capitalization that crossed the N68 trillion on Thursday. On Thursday last week, the stock price of Dangote Cement that was trading at N394.00 per share has gained 20.3 per cent or N80.1 per share to close on Thursday at…
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FBN Holdings announces rebranding to First HoldCo
FBN Holdings Plc has officially announced its transition to First HoldCo Plc (FirstHoldCo), a change that will be implemented across all its subsidiaries. This decision follows a proposal put forward at the company’s 12th Annual General Meeting (AGM) on November 14, 2024, regarding the rebranding of the Holdco. In a disclosure published on the Nigerian Exchange (NGX) on Thursday, and…
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With 17.65% YtD increase, FBN Holdings leads GTCO, others as best performing stock on NGX
FBN Holdings (FBNH) Plc’s stock price appreciated by 17.65per cent in its Year-till-Date (YtD) performance as of February 07, 2025 to emerge as top best tier-one bank stock on the Nigerian Exchange (NGX). An investigation by WESTERN POST showed that the Holdings stock price currently outperformed its peers:, Guaranty Trust Holding Company (GTCO), Access Holdings Plc, United Bank for Africa…
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VFD Group divests N7bn worth of investment in Atiat Limited
VFD Group Plc, on Friday disclosed that its management has approved a divestment of its 57.26per cent stake in Atiat Limited, that is worth N7 billion. The leading proprietary investment company renowned for its strategic vision and robust portfolio management in a statement posted on the Nigerian Exchange Limited (NGX) stated that its management fully divestment of 343,546,646 ordinary shares…
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Oando announces N4.1trn revenue in 2024FY
Oando Plc has announced a strong financial performance for the Full Year (FY) 2024 with a 45% growth in revenue to N4.1 trillion compared to N2.9 trillion in 2023 results. The Africa’s leading integrated energy company listed on both the Nigerian Exchange Grpup (NGX) and Johannesburg Stock Exchange (JSE), in its 2024 performance showcases a consistent upward trajectory following its…
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FBN Holdings reports 137.3% increase in profit to N736.73bn
FBN Holdings Plc has announced its 2024 unaudited result and accounts, declaring N736.3 billion profit after tax, about 137.3 per cent increase over N310.48billion reported in 2023. FBNH reported a 158.4 per cent increase in interest income to N2.42 trillion in 2024FY, surpassing the N2.00 trillion mark for the first time. The surge in interest income was primarily driven by…
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