Company Report
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Corpreneurship challenge: 30 agropreneurs win Unity Bank’s N10m business grant
Unity Bank Plc has extended N10 million business grant to 30 members of the National Youth Service Corps (NYSC) who took part in the 10th edition of the Bank’s flagship Entrepreneurship Development Initiative, known as Corpreneurship Challenge. The winners, including upcoming entrepreneurs developing innovative solutions in several business value chains such as Honey production, Rice, and Snail farming, among others,…
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FBN Holdings gains 12.4% WoW to close at N20
The stock price of FBN Holdings Plc gained 12.4 per cent Week-on-Week (WoW) to close the week at N20.00 per share from N17.80 per share as the financial institution rights issue withdraw near. FBN Holdings had sought the approval of the Nigerian Exchange Limited (NGX) to raise N139billion in additional capital through a rights issue. Its stockbrokers, FBNQuest Securities, sought…
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Seplat to pay shareholders Naira dividends at an exchange rate of N996.75/$
After announcing an interim dividend of 3 US Cents per ordinary share of N0.50 per share, Seplat Petroleum Plc has announced that it would be using an exchange rate of N996.75/US$ to determine its Naira amount payable. Essentially, the company would be paying an interim dividend of N29.9 per ordinary share of N0.50 per share to its Nigerian shareholders. According…
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Mecure Industries to list on NGX’s main board
Mecure Industries Limited, a leading human pharmaceuticals and nutraceuticals manufacturing company will list 4 billion ordinary shares (4,000,000,000) on Nigerian Exchange Limited (NGX) by introduction at N2.96 per share. This is another major listing for NGX in the pharmaceuticals industry as the company will add N11.84billion to the market capitalisation of the Exchange upon its addition to the Main Board.…
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Unity Bank reports N38.2bn gross earnings in Q3 2023
Unity Bank Plc has recorded gross earnings of N38 billion for the nine-month period ended September 30, 2023, with customer deposits appreciating by five per cent to N344.4 billion within the period, indicating business growth and customer confidence in the Bank. A review of the lender’s unaudited nine-month results released to the Nigerian Exchange Group Limited showed that the Bank…
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Wema Bank’s PBT surges by 130% YoY
Wema Bank Plc, Nigeria’s first digital bank, has announced its unaudited results for the third quarter ended September 30, 2023., Showing an improved third quarter performance. According to the unaudited results released, the bank continued its growth trajectory and momentum across all key performance indicators. The commercial bank achieved an impressive Gross Earnings of N150.90billion, a y/y increase of 61per cent (Q3…
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MTN Nigeria announces 45.2% drop in profit over N375.96bn net finance costs
MTN Nigeria Communications Plc on Monday released its unaudited nine months result and accounts for period ended September with N147.36billion profit, a decline of 45.2 per cent from N269.04billion reported in nine months of 2022. The telecommunication giant in its filing on the Nigerian Exchange Limited (NGX) announced N232.5billion profit before tax, a decline of 42 per cent from N400.67billion…
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Seplat Energy grows revenue by 31% to N478.1bn
Seplat Energy Plc announced its unaudited results for the nine months ended September 30, 2023, recording a rise in revenue by 31 per cent to N478.1billion from N258.7billion year-on-year. The company also declared a Q3 2023 dividend of US3 cents per share, in line with higher core annual dividend of US 12 cents. The energy Company’s also grew its nine…
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BREAKING: Access Holdings reports 100.21% growth in PBT to N294.42bn
Access Holdings Plc on Wednesday announced N294.42billion profit before tax in nine months ended September 30, 2023 unaudited result and accounts. This is an increase of 100.21per cent from N147.06billion reported in nine months of 2022. The group’s profit after tax hits N250.44 billion in nine months of 2023, an increase of 83.12per cent from N136.8 billion reported in nine…
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Nigerian Breweries declares N78.16bn loss in nine months
Nigerian Breweries Plc on Wednesday declared N78.16billion loss before tax in its unaudited nine months ended September 30, 2023 over devaluation of naira. The company on the Nigerian Exchange Limited (NGX) had declared N19.09billion profit before tax in corresponding nine months of 2022. From the profit & loss figures, Nigerian cost Breweries yesterday also declared N57.19 billion loss after tax…
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