Flour Mills of Nigeria Plc yesterday announced N258.3 billion turnover for the year ended March 31, 2012, compared with N238.8 billion attained in the previous year. Profit after tax however, dropped from N9.450 billion in the previous year to N8.377 billion as at March 2012. Presenting its result to the Nigerian Stock Exchange (NSE), the company explained that it has proposed to reward shareholders with N1.60 kobo, while the yearly general meeting is scheduled to hold September 12, 2012.
The stock share price went down by -61.27% in 2008 while the losses were erased in 2009 and 2010 with +12.54% and +91.67% price appreciation respectively. The stock closed 2011 with -5.14% losses while it has recorded -12.91% YTD losses so far in 2012. In its latest Audited result, the firm records positive figures in both turnover and PAT.
UAC of Nigeria Plc (UACN) and Livestock Feeds Plc (LSF) have signed a Memorandum of Understanding (MOU). The MOU is intends to aid UACN’s plans to make an equity investment in Livestock Feeds Plc, which will thus, aid UACN’s investment and diversification plans. The MOU however remains subject to regulatory approvals, as further announcements are expected.
The Consumer Goods firm recorded -32.16% loss in 2008 while parts of the losses were erased in 2009 and 2010 with +6.21% and +2.07% gains witnessed. 2011 saw decline of -16.88%. In 2012, the stock has recorded +2.31% gains with positive growths also recorded in its Q1 2012 financials.
Tantalizers Plc has recorded profit after of N101.87 million for the year ended 31st December, 2011, representing 66 per cent growth over N61.35 million recorded in 2010. This is even as shareholders approved the distribution of N64 million, which translates to 2kobo per share dividends for the stated period. Chairman, Jaiye Oyedotun has stated that stiffing economic situation and declining consumer purchasing power resulted in lower revenue.
The stock share price recorded whopping losses of -110.92% and -125.97% in 2008 and 2009 respectively while further losses of -48.08% and -4% was also recorded in 2010 and 2011. The stock has remained flat in 2012 as it currently trades at 50k nominal value.
R.T. Briscoe (Nigeria) Plcsays while considering the dividends for 2011 financial year, their decision to recommend 10kobo dividend was driven by the need to balance adequate compensation of shareholders yet retain capital in the business. Chairman, R.T. Briscoe (Nigeria) Plc, Clement Adekunle Olowokande, mentioned that the board was mindful of the escalating cost of funds and financing needs of a capital intensive business like theirs.
The Automobile company share price went down by -79.51% in 2008 and a whopping -164.23% losses were also recorded in 2009. The situations remained similar in 2010 and 2011 as further losses were recorded, going down by -112.07% and -137.70% respectively. However, 2012 saw an improved situation with +44.80% gains recorded so far. The firm recorded positive growths in it Q1 ’12 financials
Dangote Cement Plc, a division of Dangote group one of the most diversified conglomerates in Nigeria and West Africa has emerged first in Forbes African Top Listed West African Companies beating 25 other listed companies to the prestigious prize. The GMD/CEO, Dangote Cement, Edwin Devakumar says Dangote Cement Plc is delighted to receive the award as it comes at a time that Africa is grabbing global attention as one of the fastest growing region in the world.
The stock share price closed negative in 2010 and 2011 with -11.11% and -7.69% in that order while it also recorded -2.50% losses in 2012 so far. The company also recorded positive growth performance in its Q1 2012 financials.
Wema bank Plc and Ekiti State have commenced discussions on reviving the farmers cooperative initiative to boost food production. This was contained in a statement made available to our correspondent in Ado-Ekiti on Monday by the Chief Press Secretary to the Governor, Mr. Yinka Oyebode. Under the proposed scheme, the bank is to provide funding to farmers in order to help them expand their businesses and also meet the target of the administration in the state.
The bank share price went down by -4.73% and -93.49% in 2008 and 2009 respectively while parts of the losses was erased in 2010 with +38.71% gains witnessed. The stock resumed downtrend in 2011 as it went down by -55.81% while 2012 as so far witnessed -12.28% losses.
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