Monday, July 02, 2012 / The Analyst / Proshare Research

Companies in the NEWS Today – DN Meyer and First Bank of Nigeria Plc

DN Meyer Plc has announced a turnover N1.36 billion for the year ended December 31, 2011, as against N1.18 billion recorded in 2010. The company informed shareholders at the weekend that it was taking steps to inject fresh capital and restructure its operations.

The pharmaceutical company share price moved up by +38.18% in 2008 while it went down by -53.17%, 34.88% and -69.52% in 2009, 2010 and 2011 respectively. In 2012 so far, it has recorded -51.40% price declines while its Q1 ’12 financials reflects that the firm witnessed positive growths in turnover and PAT. The firm’s plan to inject fresh capital and restructure can help position the firm for a bright future and as such encourage potential investors to take position in the stock.

First Bank Nigeria Plc has deployed a total of 18, 000 Point of Sales (PoS) terminals across Lagos within the last five months of the kick-off of the cash-less economy and transacts N10.6 billion via online. The deployment of 18,000 PoS by First Bank came on the heels of an industry deployments of about 100, 000 PoS from January to May 2012.

The bank’s stock closed negative throughout  the periods of review as it records -52.77%, -33.44%, -2.28% and -35.18% in 2008, 2009, 2010 and 2011 while it has recorded positive YTD performance of +22.70% in 2012 so far. The company recorded positive growths in gross earnings and PAT in its Q1 2012 financials. The deployment of PoS terminals will improve the revenue base of the banks and as such leads to more profit.

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