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May & Baker posts N2.856b net profit, as Presco’s profit slips

By on August 3, 2013

Half year financial results ended June 30, 2013 of Presco and pharmaceuticals’ major, May &Baker Nigeria, were among results submitted to the management of the Nigerian Stock Exchange (NSE) on Thursday.

May &Baker posted a profit after tax of N2.856 billion from N1.678 billion recorded in the corresponding period of 2012; profit before tax rose from N2.558 billion to N3.262 billion; while revenue for the period which was N59.864 billion in 2012 rose to N64.088 billion.

While May &Baker posted improved result, Presco suffered a drop as its profit after tax dropped significantly from N1.626 billion in the comparable period of 2012 to N591.831 million; revenue dropped to N3.924 billion from N4.652 billion; while profit before tax dropped to N791.683 million from N1.943

Gross profit stood at N1.370 billion from N2.020 billion; gain on biological assets revaluation which was N762.616 million in 2012 dropped to N337.477 million with other operating income rising to N125.757 million from N47.300 million; while operating profit dropped to N995.908 million from N2.062 billion.

Meanwhile; trading on the floor of the Nigerian Stock Exchange closed on the green side for the fourth consecutive trading day on Thursday when equities capitalisation closed at N12.126 trillion after appreciating by N119.628 billion from N12.007 trillion recorded on Wednesday; while the All-Share Index gained 377.74 basis points or 0.99 per cent to close at 38,292.07 points from 37,914.33 points recorded on Wednesday.

Investors traded in a total of 239.509 million shares; valued at N3.489 billion in 5.590 transactions as against 330.174 million shares; valued at N4.030 billion in 5.944 transactions recorded on Wednesday with the financial services sector accounting for a total of 160.360 million shares; valued at N1.481 billion in 3,147 deals as against 245.778 million shares; valued at N1.648 billion in 3,103 deals recorded on Wednesday.

Building materials’ major, Lafarge Cement WAPCO, led 37 others on the gainers’ table when it appreciated by 500 kobo; followed by Guinness Nigeria which gained 499 kobo; Julius Berger Nigeria added 370 kobo; Okomu Oil Palm grabbed 341 kobo; while Nigerian Breweries notched 272 kobo; among others.

7UP Bottling Company led the decliners’ table when it went down by 155 kobo; followed by Portland Paints and Products which dropped 58 kobo; PZ Cussons Nigeria shed 38 kobo; National Salt Company of Nigeria lost 30 kobo; while UAC of Nigeria depreciated by 21 kobo; among others.


[Daily Independent]