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Analysis of UACN Properties Q1 Results

Find attached a report analyzing UAC Properties Q1 results. Here are some highlights:

1. Turnover grew 52% to N1.64b.
2. 33% improvement in PBT margin as PBT grew 81% to N545.7m.
3. PAT grew 81% to 371m.
4. Reduction in the Total Cost as a percentage of turnover.
5. FSDH predicts that the company should surpass last year’s bottomline by a wide margin.
6. Income was from 2 major sources - business properties and residential properties.

UPDC Q1 Analysis (32)

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Rarerity - Profit declines at Nigerian International Bank

Proshare NG reports that profit at Nigerian International Bank, a subsidiary of Citigroup declined 10% in the year ended December 31st, 2007.

Here is the report below:

Profit after Tax (PAT) of Nigeria International Bank Limited (NIB) a subsidiary of Citigroup in Nigeria has declined by 10.05 percent in its result for the year ended December 31, 2007.

In the period under review, the PAT of NIB decreased from N7.722 billion in year 2006 to N6.946 billion in year 2007 indicating a decline of 10.05 percent.

In the same vein, Profit before Tax (PBT) also declined from N10.555 billion in year 2006 to N8.413 billion in year 2007 indicating a decline of 20.3 percent.

However, Net Earnings increased slightly from N14.851 billion in year 2006 to N15.248 billion in year 2007 showing an increase of three percent. While Earnings per Share (EPS) also declined by 9.78 percent from 276 Kobo in year 2006 to 249 Kobo in year 2007.

Shareholders funds of the bank grew slightly from N33.812 billion in year 2006 to N35.031 billion in year 2007 showing a growth of four percent.

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Results for Linkage Assurance, NEM Insurance and Custodian and Allied Insurance

FIRST QTR RESULTS ENDED MARCH 31, 2008
NEM INSURANCE PLC, FIRST QUARTER ACCOUNT FOR THE PERIOD ENDED 31ST MARCH 2008

FIRST QTR RESULTS ENDED MARCH 31, 2008
CUSTODIAN AND ALLIED INSURANCE PLC, FIRST QUARTER RESULT ENDED MARCH 2008

3RD QTR SEPT 2007
LINKAGE ASSURANCE PLC. 3RD QUARTER ENDED 30/09/07.

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