Total Oil Plc’s (Total) made public its six months ended numbers, for the period ended 30th 2012 showing continued expansion in its sales volume with a Year-on- Year and Quarter –o-Quarter revenue growth of 25.5 percent and 15.29 percent respectively to N109.8 billion; surpassing analyst expectations by 8.2 percent.
The company recorded weak profit margin of 2.66% in its Q2'12 despite impressive and sustained market share as indicated by 25.5% turnover growth with corresponding commendable PAT growth of 37.5%.
Dangote Cement Plc, Nigeria’s biggest company by market capitalization has announced that its South African subsidiary Sephaku Holdings would this week start producing cement from late next year. The company said funds from its parent company Dangote Cement, would enable it benefit from new technology and plant, while competitors had to replace older facilities. Dangote Cement owns 64 percent of Sephaku Cement.
The company recorded commendable profit margin of 50% in its Q2' 12. This indicates good cost management outlook while the company recorded robust turnover growth and strong profitability growth of 26.0% and 24.2% respectively.
Berger Paints Nigeria Plc: has announced the appointment of Tor Nygard as its Acting Managing Director and put new management team in place to achieve better performance, a statement from the company’s headquarters in Lagos has said. The appointment came on the heels of the successful completion of the companies’ 52nd Annual General Meeting held on Tuesday July 3 2012.
The company recorded unimpressive outlook in its Q2'12 earnings report with weak bottom-line growth of 5% and low profit margin of 5.85% while turnover growth closed at 12.0%.
Diamond Bank Plc: Former Chairman of the Federal Inland Revenue Service, (FIRS), Mrs. Ifueko Omoigui Okauru, has been appointed to the Board of Diamond Bank Plc, making her the third woman on the bank’s board. Okauru’s appointment which is subject to the approval of the Central Bank of Nigeria (CBN) and shareholders, was announced by the bank at the weekend
The company recorded stronger outlook in its Q2'12 earnings report with impressive profitability growth of 408.1% along with profit margin of 15.43% while gross earnings growth closed at 48.5%.