Company Report
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Honeywell Flour Mills reports N10.5bn loss in nine months
Honeywell Flour Mills Plc on the Nigerian Exchange Limited (NGX) has announced N10.5billion loss in nine months ended December 31, 2022 as against N209million reported in the corresponding nine months of 2021. The flour processing company announced on the Exchange a N10.3billion loss before tax in the period under review. From the profit & loss figures, revenue stood at N113.4billion…
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With N7.6bn loss, Ardova reports worst performance in 6 years
Ardova Plc has reported N7.6billion loss in its unaudited financial statement for the period ended December 31, 2022, becoming one of its worst performance in over six years. The petroleum marketing company’s worst results continued in 2022 as it had reported N3.85 billion loss in 2021 financial statement. Ardova also reported N7.14billion loss before tax in 2022 from N2.94billion reported…
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Cadbury Nigeria declares N55bn revenue in 2022
Cadbury Nigeria Plc, a subsidiary of Mondelēz International, has announced a turnover of N55.21billion for the year ended 31 December 2022, representing an increase of 30.3 per cent over N42.37billion recorded in the same period in 2021. The company’s recently released unaudited financial highlights for the full year 2022 (covering the period January 2022 to December 2022), also indicated that…
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BUA Foods announces N100.6bn profit before tax for 2022 FY
BUA Foods Plc on Monday released its 2022 unaudited full-year result, reporting a profit before tax of N100.6 billion. This is an increase of 29.44per cent from the N77.74 billion the group reported during the same period in 2021. The food processing company on the Nigerian Exchange Limited (NGX) also announced N90.4billion profit after tax in 2022 from N69.77billion reported…
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Dangote emerges Vanguard Newspaper Personality of The Year
The Management of Vanguard Newspapers over the weekend bestowed the honour of “Personality of the Year” on the President of Dangote Group, Aliko Dangote. The newspaper rolled out red carpet in celebration of men and women who have distinguished themselves as achievers of excellence in their various fields of endeavors. Governors, ministers, heads of organizations and agencies, captains of industries,…
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Ecobank Ellevate partners Ananse Africa, MasterCard Foundation to train fashion entrepreneurs
Ecobank Ellevate has partnered Ananse Africa and MasterCard Foundation to train fashion entrepreneurs and creatives in Nigeria. Ecobank Ellevate is a proprietary service offering designed products for businesses owned by women, managed by women and those with a high percentage of female board members or employees, as well as companies manufacturing products for women. Head, Consumer Banking, Ecobank Nigeria, Korede…
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Nigerian Breweries to raise N20bn through CP
Nigerian Breweries Plc has announced plan to raise N20 billion from commercial paper (CP) issuance to support its short-term working capital and other cash demands from the local debt market. The brewer told the Nigerian Exchange Limited and the investing public about the issuance which it says comes under its CP programme. The company has a window to raise short-term…
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Airtel gets 5G licence, Mafab begins test-run
Airtel Networks Limited has paid the Nigerian Communications Commission $316.7m for 100 MHz of spectrum in the 3500MHz band for the deployment of fifth-generation network and 2x5MHz of 2600MHz to boost its fourth-generation coverage in the country. The firm stated this in an announcement on the Nigerian Exchange titled, ‘Nigeria 4G and 5G Spectrum Acquisition.’ According to the firm, the…
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Oando, Union Bank exit NGX-30 index as BUA Foods, Wema Bank join
The Nigerian Exchange Limited (NGX) has disclosed that Oando Plc and Union Bank of Nigeria Plc have exited NGX-30 Index, while BUA Foods Plc and Wema Bank Plc have joined list of most liquid stocks on the bourse. The NGX-30 index tracks the top 30 companies in terms of total value of equities listed on the NGX (market capitalization) and liquidity. The…
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Dangote Cement’s CDP climate rating upgraded to B
Dangote Cement Plc has had its Carbon Disclosure Project (CDP) rating raised from B- to B in recognition of the cement producer’s commitment to climate change. The rating upgrade indicates that Dangote Cement has addressed the environmental impact of its business and ensures good environmental management. This upgrade demonstrates the continued efforts made by the company to increase its levels…
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