Company Report
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MTN Nigeria reports 28.1% increase in profit to N181.6bn
MTN Nigeria Communications Plc has announced its unaudited results for the half-year ended 30 June 2022 with 28.1per cent rise in profit after tax (PAT) to N181.6 billion. Highlights of the results include Mobile subscribers increased by 7.6 per cent to 74.1 million (added 5.7 million subscribers in H1 2022); active data users increased by 13.2 per cent to 36.8…
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H1 2022: Unity Bank records 23% growth in PAT
Unity Bank Plc has posted gross earnings of N27.6 billion for its 2022 half-year results, representing a growth of 17per cent year-on-year. In its unaudited half-year financials submitted to the Nigeria Exchange Group Limited, the Bank also made significant improvements across key performance indicators. The Bank grew Profit Before Tax (PBT) by 23 per cent which rose to N1.8 billion…
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Union Bank of Nigeria reports 6.7% increase in PBT to N12.3bn
Union Bank of Nigeria Plc has reported 6.7 per cent increase in profit before tax to N12.3billion in half year ended June 30, 2022 from N11.5billion reported in H1 2021. The bank’s gross earnings was up by 12.5 per cent to N87.4billion in H1 2022 from N77.7billion in H1 2021, driven by higher earnings assets. The profit & loss figures…
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Chemical & Allied Products announces 78% increase in profit
Chemical & Allied Products Plc has announced its unaudited results for half year (H1) ended June 30, 2022 with 78 per cent increase in profit after tax to N904million from N509million reported in prior H1 2021. The paints and coatings company listed on the Nigerian Exchange Limited (NGX) also announced 91per cent increase in profit before tax to N1.33billion in…
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Skyway Aviation Handling suffers 25% decline in profit over hike in finance cost
Skyway Aviation Handling Company (SAHCO) Plc has reported 25 per cent drop in profit after tax to N310.23million in half year (H1) unaudited financial statement period ended June 30, 2022 from N411.78million reported in half year (H1) unaudited financial ended June 30, 2021. The airport and aviation service providing company also suffered 12.7per cent drop in profit before tax to…
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H1 2022: ETI reports 28% increase in PBT to N108.96bn
Ecobank Transnational Incorporated (ETI) on Monday announced half year (H1) unaudited financial statement for the period ended June 30, 2022 with 28 per cent increase in profit before tax to N108.96billion from N85.32billion reported in corresponding H1 2021 results. The pan-African bank on the Nigerian Exchange Limited (NGX) also reported 24 per cent increase in profit to N77.31billion in H1…
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Ecobank Nigeria extends remittance services to business accounts holders
Ecobank Nigeria has extended its innovative remittance services to its business account holders. This implies that Business Account holders can now receive funds sent through Ecobank Rapidtransfer or any of its Remittance franchise partners through the Business to Business (B2B), Business to Customer (B2C) and Customers to Business (C2B) transaction types directly into their business accounts. The bank is also…
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Court adjourns suit on FBN Holdings over appointment of Nnamdi Okonkwo as GMD
The Federal High Court, sitting in Lagos, on Friday adjourned the case filed against FBN Holdings Plc over the appointment of Mr. Nnamdi Okonkwo as the Group Managing Director. and its directors to November 30, 2022, for hearing. The court had on July 15, 2022 granted an order directing the company and its directors to revert to the status prevailing…
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Dangote Industries completes issuance of N187.6bn series bond
Dangote Industries Limited has announced the successful completion of its N187.6billion Series 1 Bond Issuance, which is the largest corporate bond ever issued in the history of the Nigerian capital market This landmark transaction represents the first issuance by DIL at Group level and comprises of a 7-year Tranche-A bond issued at 12.75% and a 10-year Tranche-B bond issued at…
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MTN Nigeria to register follow-up N200bn bond
MTN Nigeria Plc on Tuesday announced that it has applied to the Securities and Exchange Commission (SEC) for the registration of a new N200billion Bond Issuance Programme. Company Secretary, Uto Ukpanah in a statement on the Nigerian Exchange Limited (NGX) noted that the bond issuance is a follow-up to the successful N200billion debut bond issuance programme in 2021 under which…
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