Archive for April, 2008

UBA’s New York branch fined $15million for breaking money laundering rules.

R.T BRISCOE (NIGERIA) PLC
1ST QUARTER RESULTS FOR THE PERIOD ENDED 31ST MARCH 2008
TURNOVER  08 N4.354b,       07 N3.836b
PBT             08 N267.551m,  07 N219.901m
TAXATION  08 (N85.616m)   07 (N70.368m)
PAT            08 N181.935m,  07 N149.533m

NIGERIAN AVIATION HANDLING COMPANY PLC,
UNAUDITED ACCOUNTS FOR THE PERIOD ENDED 31ST MARCH 2008 TURNOVER 08 N1.218b, 07 852.742m
PBT     08 N306.715m,  07 N167.658m
TAXA  08 (N98.149m)  07 (N53.651m)
PAT    08 N208.566m,  07 N114.007m

CCNN (Cement Company of Northern Nigeria)PLC
1ST QUARTER RESULTS FOR THE PERIOD ENDED 31ST MARCH 2008
GROSS REV                  07 N2.535b        08 N2.191b
PRODUCTION COST    07 N1.799b,       08 N1.467b
GROSS PROFIT            07 N404.897m,   08 N446.351m
SALES/ADMIN COST   07 N324.512m,   08 N318.721m
NET P(Loss)AT           07 (N18.267m)    08 N135.321m

UNILEVER NIGERIA PLC, RESULT FOR 3 MONTHS ENDED 31 MARCH 2008
TURNOVER        08 N9.690b,   07 N8.290b
PBT                   08 N1.582b,   07 N441m
TAXATION       08 (N506m)    07 (N141m)
PAT                  08 N1.076b,   07 N300m

STACO INSURANCE PLC, AUDITED ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2007
TURNOVER      07 N2.813b,        06 N1.636b
PBT                 07 N868.177m,   06 N546.905m
TAXATION      07 (N110.194m)   06 (N55.442m)
PAT                [...]

LAFARGE CEMENT WAPCO NIGERIA PLC, UNAUDITED FIRST QUARTER ENDED 31ST MARCH 2008
TURNOVER        08 N11.030b,    07 N9.525b
PBT                    08 N2.290b,     07 N3.111b
TAXATION        08 (N344m)       07 (N467m)
PAT                  08 N1.946b,      07 N2.644b
NOTE: OPERATING PROFIT WAS ADVERSLY [...]

INTERNATIONAL BREWERIES PLC, AUDITED ACCOUNT FOR THE YEAR ENDED DECEMBER 31ST 2007
TURNOVER                           07 N561.668m,        06 N313.047m
EXCEPTIONAL ITEMS            07 (N91.296m)         06 (N143.010m)
LOSS/ BEFORE TAXATION    07 (N118.214m)       06(361.360m)

ECOBANK NIGERIA PLC
AUDITED ACCOUNT ENDED DECEMBER 31, 2007
GROSS EARNINGS     07 N32.709b,     06 N17.258b
PBT                          07 N10.096b,    06 N5.011b
TAXATION               07 (N2.646b)    06 (N1.453b)
PAT                         07 N7.449b,        06 N3.558b
PRPOSED DIVIDEND /SHARE 24K

Here are different reports, reviews and analysis of the NSE by FSDH, Meristem, and Zenith for the week that just ended.
FSDH
Zenith
Meristem

Zenith Bank to lauch 3 mutual funds – Zenith Equity Fund, Zenith Income Fund and Zenith Ethical Fund.
They will be joining other banks such as IBTC, ARM, and Oceanic Banks in the mutual fund business.
My main issue with these mutual funds is that there is little information on their performance, price history and costs.

You can review the FSDH weekly market review here .
They had an interesting article on whether the banks were making too much profit. My personal opinion is that they do. They are declaring some very ridiculous profits these days and it is hard to justify how they are making these huge sums.
They reviewed a speech [...]


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