Company Report
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Airtel Africa obtains 10-year spectrum licences in Kenya worth $10m
Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, on Monday announced that its Kenya subsidiary, Airtel Kenya Networks Limited (‘Airtel Kenya’), has agreed on settlements with the Communications Authority of Kenya regarding its operating and spectrum licences, and received approval for the replacement of its temporary licence with a…
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Dangote increases sugar production by 9.2% to 811,962 tonnes
For the full year ended December 31, 3021, the management of Dangote Sugar has revealed that the group’s production volume increased by 9.2 percent to 811,962 tonnes in contrast to 743,858 tonnes in the corresponding period of 2020. The reported group’s revenue of N276.50 billion for the full year, represents an increase of 28.8 percent over N214.30 billion recorded in…
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GTCO reports PBT of N221.5bn in 2021
Guaranty Trust Holding Company Plc (GTCO ) has released its Audited Consolidated and Separate Financial Statements for the year ended December 31, 2021, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE). The Group’s balance sheet remained well structured and resilient with total assets and shareholders’ funds closing FY 2021 at N5.44trillion and N883.2billion, respectively. Full Impact Capital…
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JUST IN: GTCO reports 13.21% drop in profit to N174.84bn
Guaranty Trust Holding Company Plc (GTCO) on Friday announced 13.21 per cent decline in profit to N174.84billion in its audited result and accounts for the period ended December 31, 2021. The Holdings in 2020 financial year reported N201.44bilion profit. The audited 2021 results on the Nigerian Exchange Limited (NGX) also showed about seven per cent decline in profit before tax…
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BREAKING: UBA announces 9% increase in profit
United Bank for Africa (UBA) on Friday announced about nine per cent increase in profit, according to its audited result and accounts for the period ended December 31, 2021. The Pan-African bank reported N118.7billion profit in 2021 from N109.16billion reported in 2020. Profit before tax also grew by 20.1 per cent to N153.07billion in 2021 fro N127.3billion in 2020. …more…
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Dangote cement, Zenith Bank, MTN Nigeria report N907.65bn profit in 2021
Three leading companies in Nigeria, Dangote Cement Plc, Zenith Bank Plc and MTN Nigeria Plc have reported N907.65billion profit in 2021 financial year, an increase of 28 per cent from N711.85billion reported in 2020. The three companies are giants in the cement manufacturing, financial and telecommunication sectors of the nation’s economy, contributing to job creation, supporting ease of transactions, constructions…
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Nestlé Nigeria Grew Revenue by 22.6% in 2021
Nestlé Nigeria Plc has announced its financial results for the year 2021 with revenue gaining 22,6 per cent to close at N351.8 billion from N287.08billion reported in 2020. The multinational company reported gross profit for the year stood at N132.4 billion, compared to N 119.2 billion during the previous year. The Company posted profit after tax of N40.05 billion in…
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Lafarge Africa Reports N62.24bn Profit Before Tax in 2021
Lafarge Africa Plc on Tuesday announced N62.24billion profit before tax in its audited result and accounts for period ended December 31, 2021. The cement manufacturing company profit before tax appreciated by 66 per cent when compared to N37.57billion reported in 2020. The Group reported 27.1 per cent increase in revenue to N293.09 billion in 2021 from N230.57billion reported in 2020.…
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BREAKING: Zenith Bank reports 6.1% increase in profit to N244.6bn
Zenith Bank Plc on Monday announced 6.1 per cent increase in profit to N244.6bn, according to its audited result and accounts for full year ended December 31, 2021. The most profitable bank in Nigeria had reported N230.6bn profit in 2020 audited result and accounts. The audited result and accounts by Zenith Bank is the first lender to release audited results…
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IMF lists how Dangote Refinery can boost Nigeria’s economic recovery
The International Monetary Fund, IMF, has said the new Dangote Refinery would boost the country’s GDP when it starts operation. In an article published on Monday, IMF said the refinery which is expected to start operations in the third quarter of this year can meet the full demands of domestic consumption of petroleum products in the country. The refinery which…
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