Company Report
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Transcorp group records growth in revenue, gross earnings in Q1 2023
Transcorp Group sustained its growth trajectory and ended the 2022 financial year with gross earnings of N134.7 billion, a 21% increase from N111.2 billion recorded in 2021. This growth was largely driven by the power and hospitality businesses, according to the Group’s Chief Financial Officer, Joseph Adegunwa, who presented a comprehensive overview of the Group’s performance, highlighting key achievements across…
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Access Holdings hits N15trn in total assets
Access Holdings Plc, on Thursday the Nigerian Exchange Limited (NGX) announced N15trillion in total assets to outshine its peers as the strongest Tier-1 financial institution. The Pan-African bank reported N15trillion in total assets in financial year ended December 31, 2022 result and accounts, representing an increase of 28per cent from N11.73trillion reported in corresponding period of 2021. Increase in total…
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Union Bank declares 47% increase in PBT
Union Bank of Nigeria Plc has declared a N30.2billion profit before tax in its 2022 audited financial year, an increase of 47 per cent from N20.5billion reported in 2021 financial year. One of the oldest financial institutions in Nigeria on the floor of the Nigerian Exchange Limited (NGX), on Wednesday disclosed that its gross earnings was up by 19per cent…
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NOVA merchant bank reports 107.9% increase in PBT
NOVA Merchant Bank Limited has announced its audited results for the full year ended December 31, 2022, showing 108 per cent increase in profit before tax to N3.50billion. Profit after tax also recorded a similar feat, as it jumped from N1.58billion in 2021 to N3.21billion in the year under consideration, representing an impressive leap by 102.9per cent. The merchant bank…
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Dangote Sugar Refinery pays N18.22bn dividend, to produce 170,000 Tonnes next season
Despite the economic headwinds that characterised 2022, Dangote Sugar Refinery Plc will pay N18.22 billion as dividends to shareholders for the year ended December 31, 2022, while also targeting the production of over 170,000 tonnes of sugar next season. The dividend payout will translate to N1.50 kobo per share held by shareholders. Chairman of the Company, Aliko Dangote said: “The…
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Fidelity Bank’s 3.03bn private placement gets 100% subscription
Fidelity Bank Plc has announced the completion of the private placement of 3.03billion units of its shares, which was 100 per cent subscribed by investors. The bank in a statement posted on Nigerian Exchange Limited (NGX), stated that it received two applications for the 3,037,414,308 ordinary shares of 50 kobo each at N4.60 per unit, which opened on February 22…
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GTCO reports profit before tax of N214.2bn, proposes N3.10 dividend
Guaranty Trust Holding Company Plc (GTCO) has released its Audited Consolidated and Separate Financial Statements for the year ended December 31, 2022, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE). The Group reported profit before tax of N214.2billion, representing 3.3per cent dip from the N221.5billion posted in the corresponding year ended December 2021 on the back of…
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Dangote cement pledges higher returns, value to shareholders, stakeholders
Chairman of Dangote Cement Plc, Aliko Dangote has guaranteed shareholders and other stakeholders of the company’s management’s resolve to keep the company profitable by leveraging on strategic innovations for the continuous growth of their investments. Speaking at the 14th Annual General Meeting (AGM), of the company in Lagos, Dangote said the prospects for the cement company remain bright as the…
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Sterling Bank transforms on NGX, relists as Sterling Financial Holdings
Sterling Bank Plc on Thursday announced that it has completed a significant milestone in its ongoing transformation to a financial holdings company with the delisting, transfer, and relisting of all shares to the Sterling Financial Holdings Company on the floor of the Nigerian Exchange Limited (NGX). The relisting signifies another major development in the ongoing transition, as unanimously approved by its…
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Shareholders approve Capital Hotels’ delisting from NGX
Shareholders of Capital Hotels Plc have approved the company’s delisting from the Nigerian Exchange Limited (NGX). The company secretary, Capital Hotel, Mr. Alex Ugwuanyi in a statement said the board of directors had approved the decision by shareholders of the company. He noted that shareholders and other stakeholders at a Board of Directors’ meeting held in March approved the company’s…
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