Nigeria Business News » Earnings

Wema Bank Reports N1.8 billion Loss in Q3, 2012

Afolabi Ogunde — Sat, 05 Jan 2013 10:54:05 +0000

Wema Bank released its 3Q, 2012 results late last week. The company say Gross Earnings reach N19.8 billion, up 14.1 from N17 billion made over the corresponding period in 2011. A drop in investment income of 63% led to the losses before and after tax reported by the bank. Investment income for the period was [...]

Wema Bank Reports N1.8 billion Loss in Q3, 2012

Dangote Cement Forecasts N42 billion Profit After Q1, 2013

Afolabi Ogunde — Fri, 04 Jan 2013 08:38:57 +0000

The management of Dangote Cement released their earnings forecast for Q1, 2013 towards the tail end of the preceding year. The company says it expects revenues to reach N81.58 billion after the first three months of the year. This represents an increase of 27% over and above the N64.1 billion it recorded after the first [...]

Dangote Cement Forecasts N42 billion Profit After Q1, 2013

Sonangol Posts $3.2 billion Profit

Jason Iredia — Wed, 12 Dec 2012 14:29:12 +0000

As Angolan state-owned oil company, Sonangol posted a strong profit growth for 2011, the results also highlight how broken the model of Nigeria’s state-owned oil company, NNPC is due to corruption, poor management and political interference. Sonangol posted net profits for 2011 of $3.32bn as against $2.52bn in 2o10, a rise of 32%. The rise [...]

Sonangol Posts $3.2 billion Profit

Flour Mills Banks N7.7 billion in Profits After Six Months

BusinessNews Staff — Thu, 15 Nov 2012 07:48:28 +0000

Flour Mills of Nigeria Plc, manufacturers of Golden Penny Products, transmitted its Q2 unaudited financial statements to the Nigerian Stock Exchange yesterday. The company reported revenues of N137.6 billion, up 7.6% from N127.9 billion reported over the same period last year. Profit before tax came in at N10.4 billion, up 5.3% from N9.9 billion after [...]

Flour Mills Banks N7.7 billion in Profits After Six Months

Julius Berger Reports N137 billion Earnings After Nine Months

Afolabi Ogunde — Wed, 07 Nov 2012 15:04:57 +0000

Leading construction company, Julius Berger has reported 3Q earnings of N137 billion, representing a 5.6% increase from the N130 billion it made over the same period last year. Profit before tax arrived at N7.5 billion, up 11% from the N6.8 billion it made over the same period last year. Net income was N3.79 billion, up [...]

Julius Berger Reports N137 billion Earnings After Nine Months

Tantalizers Makes N243 million Loss After Nine Months

Afolabi Ogunde — Wed, 07 Nov 2012 14:36:59 +0000

Quick Service Restaurant chain, Tantalizers has declared a loss of N243 million after nine months of trading in the present financial year. Sales for the company over the nine month period were N3.17 billion, down 7.3% from the N3.42 billion it made over the same period last year. Production costs saw a marginal increase of [...]

Tantalizers Makes N243 million Loss After Nine Months

Stanbic IBTC Reports 3Q Earnings, Declares Net Income of N6.9 billion

Afolabi Ogunde — Thu, 01 Nov 2012 09:44:07 +0000

Stanbic IBTC reported its 3Q earnings to the Nigerian Stock Exchange yesterday. The company said its gross earnings were up 35% to N64 billion, from N47.4 billion over the same period last year. Interest income was up 61% to N42.5 billion, from N26.4 billion over 3Q, 2011. Provision for bad debt or credit impairment charges [...]

Stanbic IBTC Reports 3Q Earnings, Declares Net Income of N6.9 billion

Nestle’s Nine Month Income Up 63% to N15.4 billion

Afolabi Ogunde — Thu, 01 Nov 2012 08:54:46 +0000

Nestle, makers of popular beverage Milo, transmitted its 3Q earnings to the Nigerian Stock Exchange yesterday. Revenue was reported at N85 billion, up 21% from N70.5 billion made over 3Q, 2011. Profit before tax was up 41% to NN18.28 billion, from N12.99 billion over the same period in the preceding year. Net Income arrived at N15.4 billion, [...]

Nestle’s Nine Month Income Up 63% to N15.4 billion

First Bank’s 3Q Profit of N66.3 billion is Industry Highest

Afolabi Ogunde — Wed, 31 Oct 2012 07:33:19 +0000

First Bank, the third largest lender in Nigeria according to Market valuation statistics has transmitted its third quarter earnings to the Nigerian Stock Exchange. The bank reported a 19% growth in gross earnings which were N267.7 billion, as against N225 billion it recorded over the same period last year. Interest income was primarily responsible for [...]

First Bank’s 3Q Profit of N66.3 billion is Industry Highest

FCMB concludes merger of FinBank, announces nine-months Profit before Tax of N12.1bn

Afolabi Ogunde — Tue, 30 Oct 2012 07:46:58 +0000

First City Monument Bank PLC has announced its unaudited IFRS-compliant group results, for the nine-months ended 30 September 2012. The banking group has also concluded the merger of FinBank, a wholly owned subsidiary acquired on 9 February 2012. Key Highlights:  Steady improvement in Year-on-Year (YoY) performance:  Nine-months PBT, as at September 2012, was [...]

FCMB concludes merger of FinBank, announces nine-months Profit before Tax of N12.1bn