Monday, July 09, 2012 / The Analyst / Proshare Research

Companies in the NEWS Today – Nacho Aviance Plc, Unity Bank Plc, Staco Insurance Plc, Flour Mills Plc and Stanbic IBTC Bank Plc

Nacho Aviance Plc has called on importers, airlines and stakeholders that do business with it to process clearing of their shipments within the government’s stipulated time for cargo storage. The company said the directive was necessary due to the non-clearing of cargo by the Licensed Customs Agents arising from the Federal Government’s decision to enhance security around the airport.



Nacho Aviance share price recorded a whopping -137.27% loss in 2008 while it also went down in 2009 by -61.42%. The stock resumed uptrend in 2010 with +29.61% gains while the gain was erased completely in 2011 with -98.44% loss recorded. In 2012 so far, the stock has recorded +13.03 YTD gains.

Unity Bank Plc is intensifying its engagement with customers in their primary places of business as a means of deepening interaction with them. Head, Corporate Communications of the bank, Aliyu Ma’aji explained the engagement is also aimed at obtaining first-hand feedback from the customers and other people needing banking services. With the plan, the bank will be organizing Road Shows in three cities across the country namely, Abeokuta, Ilorin and Minna. Similar Road Shows have been held in Abuja, Lagos, Bauchi, Katsina and PortHarcourt.



The stock price went down by -67.50% and -70.63% in 2008 and 2009 respectively while +42.86% gains were recorded in 2010. 2011 saw -54.17% losses as the 2012 YTD performance stands at -9.09% losses and the price currently trades at 0.50k nominal value.

Staco Insurance Plc’s MD/CEO, Sakiru Oyefeso, has been elected the Assistant Treasurer of the Nigerian Insurers Association. In a statement on Friday, Oyefeso, whose election was said to have been unanimously ratified during the 41st Annual General Meeting of the association in Lagos, succeeded the Managing Director, Intercontinental Wapic Insurance Plc, Segun Balogun. NIA, the umbrella trade association of all insurance companies registered to operate in the country, was founded in 1971 as a non-profit making organisation, and was later incorporated as a company limited by guarantee under the Companies Act 1968.



The insurance outfit share price went up by +65.43% in 2008. The stock witnesses a reverse trend in subsequent years as it closed 2009 and 2010 with -81.34% and -57.98% losses. The stock closed 2011 flat as it currently trades at the nominal price of 50k. Similarly, its price has also remained unchanged in 2012.

Flour Mills of Nigeria Plchas announced the appointment of Pete Low as its new Chief Commercial Officer. Prior to this appointment, he was for over 10 years the managing director of Nigerian Bag Manufacturing Company PLC, (BAGCO), a subsidiary of Flour Mills of Nigeria PLC. Pete brings to his new job many years of managerial experience in turning around and growing companies profitability.



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 -13.22% YTD losses so far in 2012. In its latest Audited result, the firm records positive figures in both turnover and PAT.

Stanbic IBTC Bank Plc - a member of Standard Bank Group and StarTimes - are partnering to provide mobile money services to Nigerians. In furtherance of the Central Bank of Nigeria’s (CBN) initiative to achieve a cashless society, this partnership will enable subscribers of StarTimes, pioneer in Digital Terrestrial Television (DTT) operations in the country, make payments for subscription without having to experience interruption in programmes due to late payments of their monthly subscriptions.



The bank recorded -45.20% and -31.47% losses in 2008 and 2009 respectively while it went up by +23.16% in 2010. The stock resumed downtrend in 2011 as it closed the year with -9.78% price depreciations. In 2012, it has so far recorded -20.00% YTD losses while the firms Q1 ’12 financials reflects that it made positive growths in both Gross Earnings and PAT.

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