First Bank of Nigeria Plc has undoubtedly been the most resilient financial brand in Nigeria having been in operations for 118 years. Established in 1894, First Bank has been a quoted company since 1971 and has capitalised on its experience over the years to remain a leader in the financial industry.
The Company in its Q2'12 sustained strong market share as reflected in its gross earnings growth of 25.6% while the profitability base remained robust and strong with impressive growth of 124.8%. Also, the company has improved cost management posture with sound profit margin of 25.26%.
Stanbic IBTC Bank Plc, a member of Standard Bank Group, has appointed two new executive directors. The new appointees are Obinnia Abajue and Wole Adeniyi. The appointments confirmed by Sola David-Borha, Stanbic IBTC’s chief executive officer, are geared at further strengthening the bank’s executive team as it consolidates its steady growth and expansion in the drive for peerless service to its customers.
The company in its Q2'12 records impressive profit margin of 10.96% on the back of strong profitability growth of 29.7% and commendable gross earnings growth of 45.8%- the outlook reveals healthy operational efficiency and cost management posture.
Lafarge Wapco Plc: Cement manufacturer, Lafarge Wapco, has released its unaudited results on the floor of the Nigerian Stock Exchange (NSE), revealing a 56 percent leap in turnover to N45.9 billion in 2012. Lafarge Waoco says it will continue to provide innovative products and services to its valued customers and consumers as it believes that this is the best way to maintain its heritage.
The company in its Q2'12 appeared more stronger with its commendable profitability growth of 175% in the face of sustained market share as reflected in turnover growth 57.1%. Also, the profit margin posture is commendable but there are traces of low cost management as PAT growth of 175% is not commensurate with PAT margin of 19%.
Nacho Aviation Handling Company Plc (NAHCO) has announced its Q2 result on the floor of the Nigerian Stock Exchange, showing a marginal 7.9 percent drop in revenue to N3.1 billion from N3.4 billion. In a bid to further consolidate on the company’s ongoing diversification agenda, National Aviation Handling Company (NAHCO) Plc has concluded plans to raise fresh capital.
The company in its Q2'12 recorded unimpressive posture as both top-line and bottom-line plunged by -7.9% and -42.0% respectively, reflecting weak profitability posture in the face of low market share as suggested by turnover posture.