Nigera’s hospitality firm, Transcorp Hotels, grows first half post tax profit by 83% to N1.38bn
Adesola Afolabi
July 30, 2018
Nigeria’s hospitality firm, Transcorp Hotels, recorded a jump in profit after tax of 83 percent to N1.38 billion in the first half of 2018, the company’s unaudited financial statements for the period just released has shown. The growth represents a year-on-year growth over the N760 million recorded in the first half of 2017. The results […]
Dangote Cement grows H1 2018 revenue by 16.9% as shares spike
Adesola AfolabiJuly 23, 2018
Dangote Cement, Africa’s largest cement producer released its half year financial results Friday showing a revenue growth of 16.9 percent at N482.44 billion and a profit after tax growth of 3.2 per- cent at N113.2 billion, halt- ing equities market four consecutive day bearish run. The announcement, which sparked demand for the stock moved its […]
Nokia sales drop 8% in Q1 2018 as market gears up for 5G
Businessam StaffApril 26, 2018
Nokia suffered a “challenging Q1” as lower income from North America resulted in a hit to earnings, but Rajeev Suri, the chief executive officer, remained bullish about a strong full-year performance as momentum for 5G builds. The company recorded 8 percent drop in sales, reducing revenue from €5.4 billion in Q1 2017 to €5 billion […]
Lafarge Africa post Q1 result, record loss after tax of N2bn
Businessam StaffApril 23, 2018
By Oluwaseun Afolabi Lafarge Africa Plc, a sub-Saharan African building materials company, on Monday, announced a loss after tax of N2 billion for the quarter ended March 31, 2018, compared with a profit after tax of N9.4 billion recorded in the corresponding period of 2017. The unaudited results just released showed that Lafarge recorded revenue […]
Zenith Bank reports 25.5% increase in profit to N47.08bn in Q1
Businessam StaffApril 23, 2018
By Afolabi Adesola Zenith Bank Plc has announced an increase of 25.5 percent in profit in the first quarter of 2018 to N47.8 billion as against N37.5 billion reported in the first quarter 2016. The lender’s in its unaudited results to Nigerian Stock Exchange (NSE) Thursday said, profit before tax gained 22.2 percent to N54 […]
Stanbic IBTC releases Q1 result, records 22% growth in earnings
Businessam StaffApril 23, 2018
By Afolabi Oluwaseun Stanbic IBTC Holdings Plc. has reported a 22 percent growth in earnings for the quarter ending March 31, 2018 with gross earnings of N57.4 billion from N47 billion in the corresponding quarter of 2017. The results released to the Nigerian Stock Exchange Monday, April 23, 2018, indicates that the bank’s profit before […]
Zenith Bank earnings up 14.5% in Q1 2018, reports N54bn profit
Businessam StaffApril 19, 2018
Zenith Bank Plc. has reported a 14.5 percent growth in earnings for the quarter ending March 31, 2018 with a gross earnings of N169.2 billion from N147.7 billion in the corresponding period of 2017. The results released to the Nigerian Stock Exchange Thursday, April 19, 2018, indicates that the bank’s profit before tax improved 22 […]
United Capital grows Q1 2018 gross earnings by 4% to N2.2bn
Businessam StaffApril 19, 2018
United Capital Plc, has announced its unaudited 2018 first quarter financial results, showing gross earnings of N2.2 billion and profit before tax of N1.49billion. United Capital generated gross earnings of N2.2bn, an increase of 4 percent from N2.1bn in Q1 2017, despite the uncertain macroeconomic environment and lower interest rates on treasury assets. Profit Before […]
How we grew total assets to N1.1 trn- Sterling Bank CEO
Businessam StaffApril 18, 2018
Sterling Bank Plc, has reported an impressive result for the financial year ended December 31, 2017. The results released on the floor of the Nigerian Stock Exchange on Monday showed that profit after tax stood came in at N8.5 billion as against N5.2 billion for the corresponding period of 2016, representing an increase of 65 percent […]
UBA earnings outlook for 2018 bright despite likely rate cut in Nigeria
Businessam StaffApril 2, 2018
United Bank for Africa (UBA) says its earnings outlook for 2018 is bright despite a likely rate cut in Nigeria, its home operating country, adding that its technology investment and diversification in differing regions would hold it instead for another stellar performance year-end. Ugo Nwaghodoh, UBA’s group chief finance officer disclosed this weekend in an […]