Nestlé Nigeria to consolidate 22% PAT growth with local content sourcing, expansion
Adesola Afolabi
July 29, 2019
A 22 percent growth in profit after tax of Nestle Nigeria in the half year period ended June 30, 2019 will be further boosted through local content sourcing and expansion in product commercialisation. This was disclosed by Mauricio Alarcon, managing director and CEO of Nestlé Nigeria, in his outlook for the firm’s second half of […]
Twitter records 10% share price growth on improved earnings report
Businessam StaffJuly 26, 2019
Share price of Twitter surged by more than 10 percent during Friday morning trading as a result of improved Q2 earnings that beat analyst estimates. The rally added about $3 billion to Twitter’s market cap, bringing it over $32 billion. According to the Q2 results, revenue for Twitter was up percent 18 year on year […]
Equity trading performance spurs Goldman Sach’s quarterly growth
Businessam StaffJuly 16, 2019
Goldman Sachs Group Inc reported a higher-than-expected quarterly profit on Tuesday as the Wall Street investment bank benefited from higher equities trading revenues. The bank said equities trading revenue increased by 6 percent from a year ago to $2 billion, the second highest in four years. Goldman said clients were more active than the same […]
Flour Mills Nigeria reduces net debt by 30% proposes N1.20 dividend
Adesola AfolabiJuly 16, 2019
Flour Mills of Nigeria Plc (FMN), has announced a 30 percent reduction on its overall net debt. The announcement was made via its recently released full year results for the year ended March 31, 2019. According to the company’s results made available to business am, it’s debt which stood at N22.9 billion as at March […]
SAHCO records N302m loss despite 23.2% revenue rise as assets climb to N23bn in 2018
Businessam StaffJuly 11, 2019
Nigeria’s second largest aviation handler, Skyway Aviation Handling Company Plc (SAHCO) says it recorded a loss before tax of N302.1 million, despite generating N6.2 billion revenue in 2018. The revenue figure is 23.2 percent higher than N4.9 billion, which SAHCO earned in 2017, according to its financial book for the year ended December 2018. […]
Systemspecs wants girls’ to embrace career in ICT
Businessam StaffJuly 4, 2019
Systemspecs has urged girls and young women to consider careers in the field of information and communication technology (ICT) as it is the future profession to beat. The software firm disclosed this at the 8th edition of the international girls in ICT day organised by eBusiness Life, with the theme: “Expand horizons changing attitudes: an […]
NIMASA created 7,000 jobs through cabotage enforcement in 6 months
Samson EchenimJune 13, 2019
By Samson Echenim The Nigerian Maritime Administration and Safety Agency (NIMASA) created 7,000 new jobs in six months through strict enforcement of Nigeria’s cabotage trade regulations and the stoppage of waivers for foreign vessels, Dakuku Peterside, the agency’s director general said in Lagos on Thursday. Peterside also told journalists at a briefing that the agency […]
Malta Guinness celebrates Durbar fiesta with Muslims in Zaria, Kano
Jacob AjakaiyeJune 5, 2019
By Jacob Ajakaiye, in Kano Malta Guinness, a non-alcoholic beverage brand from the stable of Guinness Nigeria plc, joined thousands of Muslims faithfuls in celebrating the annual Durbar Festival in Zaria and Bauchi by giving them a taste of its premium Malt drink. The Durbar festival was organized to mark the end of the […]
Onne Port invest $10m in operational infrastructure
Samson EchenimJune 4, 2019
By Samson Echenim West Africa Container Terminal (WACT), manager of the Onne Oil & Gas Port in Rivers State, has said it is putting in $10 million in port operations infrastructure as part of its plans to upgrade service. The company said it was set to receive two new mobile harbour cranes […]
CCNN turns out positive post-merger performance with N5.7bn profit after tax in FY18
Businessam StaffApril 15, 2019
Cement Company of Northern Nigeria (CCNN), producers of Sokoto cement, has reported a net profit of N5.7 billion (US$15.75 million), 77 percent higher than the figures recorded in 2017, and comes ahead of analysts expectations, following its merger with Kalambaina Cement Company. A statement by the company explained that while the merger was completed in last […]