Courteville Nigeria Plc has said at its recently held Annual General Meeting (AGM) that conservatism has helped the Company in achieving whatever they have achieved so far. According to the Group Managing Director (GMD), Bola Akindele, the company has not been too extravagant in spending money in getting the business done, “we have just tried to maintain the status of being reasonable in the way we conduct our business. We will pay dividend according to the profit made by the company, we will also consider the position of the Company’s Balance Sheet at the end of each financial year before proposing any dividend” he said.
The company’s share price recorded -80.92% losses in 2009 while it closed flat in other periods of review as it currently trades at the nominal price of 50k. In its Q1 ’12 financials, it recorded positive growths in both turnover and PAT.
First Bank Nigeria Plcand Poise Nigeria said they have entered into a strategic partnership with more than twenty other companies to reduce the level of unemployment among Nigerian graduates. The partners, Poise had trained about three hundred Nigerian graduates, through its subsidiary – Poise’ Graduate Finishing School (PGS), on employability skills with about eighty-five per cent employed in various sectors of the economy.
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 +36.74% gains in 2012 so far. The company recorded positive growths in gross earnings and PAT in its Q1 2012 financials.
Access Bank Plc to Issue $350m Eurobond - Access Bank Plc plans to issue a $350 million five-year Eurobond with price around seven per cent, Reuters quoted a source at the bank to have said Wednesday. It had been exclusively reported that the commercial bank was considering issuing a Eurobond on the London Stock Exchange (LSE) to enable it raise funds for its operations.
Rating agency Standard and poor’s (S&P) have assigned a ‘B+’ rating to the proposed senior unsecured notes to be issued by Access Finance B.V.(not rated) ,a special purpose entity of Access Bank PLC. The notes to be issued are unconditionally and irrevocably guaranteed by Access Bank PLC, rated B+/Stable/B, by S&P.
The financial institution recorded -69.26% losses in 2008 while it went up by +7.50% and +25% in 2009 and 2010 respectively. The stock went down by -49.47% losses in 2011 while it has recorded an impressive performance in 2012 with +60.42% YTD gains recorded so far.
Transcorp Nigeria Plc: The privatisation of the nation’s power assets entered a key stage on Tuesday with investors and analysts hailing the seamless and transparent submission of bids by 25 investors angling to acquire thermal and hydro generating plants across the country. The thermal power plant in Ughelli attracted more interest with nine bids including one each from Transcorp and a consortium of Ethiope/Rockson Engineering while the least number of bids ONE was recorded for Shiroro.
The share price of Transcorp Plc declined by -74.84% and -36.71% in 2008 and 2009 while it closed flat in 2010. The stock recorded price appreciation of +14% in 2011 while it has recorded +110.53% gains so far in 2012. The firm’s 2011 Audited result shows that it recorded positive growth in turnover and negative growth in PAT.
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