Wednesday, July 04, 2012 / The Analyst / Proshare Research

Companies in the NEWS Today – Berger Paints Plc, Aso Savings & Loans Plc, Fidson Healthcare Plc and Union Bank Plc

Berger Paints Plc’s shareholders, yesterday, approved the proposal by the company’s board to pay 70 kobo dividend for the year ended December 31, 2011, amounting to N152.2 million. For the year under review, the company recorded profit after tax of N250.191 million, down by 43.45 per cent when compared to N442.463 million declared in the previous year.



The stock recorded -19.11% and -60.59% price depreciations in 2008 and 2009 while the losses were erased completely in 2010 with a whopping +161.25% gains. A marginal gain of +1.32% was also recorded in 2011. So far in 2012, the share price has moved up by +0.83%. The firm’s Q1 2012 financials shows that it records -5.8% loss in turnover while +2.72% growth in PAT.

ASO Savings and Loans Plc, a primary mortgage institution, has grown its loans and advances by 35 per cent to hit N27 billion for the year ended March 31, 2012, from N20 billion in 2011. An analysis of the loans and advances showed that 79 per cent were mortgage assets, confirming Aso Savings’ position as a one of the leading mortgage banking firms in Nigeria.



The financial institution recorded price decline of -66.86% and -10.71% in 2008 and 2009 while it closed flat in 2010 and 2011 respectively. The stock has so far recorded -12.2% YTD losses in 2012 while it also witnessed negative growths in its turnover and PAT.

Union Bank of Nigeria Plc is gradually creeping out of the woods as the financial institution Tuesday announced a reduction in its loss for the year ended December 31, 2011. The bank, in its audited result released on the floor of the Nigerian Stock Exchange (NSE), reported a loss after tax of N94.878 billion in 2011, compared with a loss of N106.472 billion posted in 2010.

Union Bank share price went down by -64.70% in 2008. The stock further went down by -60.53% and -30% in 2009 and 2010 in that order while an improvement was witnessed in 2011 with +152.38% price appreciations recorded. The stock has witnessed -64.72% YTD loss so far in 2012.

Fidson Healthcare Plc, one of the leading health and pharmaceutical companies in Nigeria has thrown its weight behind the on-going campaign by the National Agency for Food, Drugs Administration and Control (NAFDAC) against fake drug syndicates in the country. It also asked other operators in the pharmaceutical sector to support the campaign towards making it succeed. Determined to make Nigeria a safe place for health products, NAFDAC recently mounted campaign to rid the country of counterfeit drugs.



The stock price went down by -50.56% in 2009 while the losses were erased in 2010 with +71.91% gains recorded. It resumed downtrend in 2011 with -74.18% losses witnessed while the stock has recorded +13.92% YTD gains in 2012.

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