Thursday, September 13, 2012 / The Analyst / Proshare Research
Companies in the NEWS Today – Flour Mills Plc, First Bank Plc, Unity Bank Plc, Zenith Bank Plc and Fidson Healthcare Plc
Flour Mills of Nigeria Plc: Shareholders of the company has given a unanimous approval to the company’s bid to acquire 90 per cent equity shareholding in ROM Oil Mills Limited. In a recent statement President, Nigerian Shareholders Solidarity Association, Chief Timothy Adesiyan, commended the company for its strategic investment plans aimed at increasing its holdings and growing its capital base.
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 -8.02% YTD losses so far in 2012. In its latest Q1 12 result, the firm records positive figures in both turnover and PAT.
First Bank of Nigeria Plc has appointed Dr. Oba Otudeko as the Chairman of its holding company. A statement from the bank on Wednesday, noted that Mallam Bello Maccido was also appointed as the Chief Executive Officer of the Holding Company. FBN Holdings was established in compliance with the Central Bank of Nigeria’s new regulation.
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 +61.80% gains in 2012 so far. The company recorded positive growths in gross earnings and PAT in its Q2 2012 financials.
Unity bank Plc: Two customers of the Bank are to receive two brand new cars as rewards for participating in the bank’s savings promotion. The winners will emerge from the second national draw of the savings promotion holding this weekend in Lagos. Media and External Communications Manager of the bank, Sani Zaria, consolation prizes of fridges and generators will also be given to other qualifying participants at the draw.
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.
Zenith Bank Plc and Visafone Communications has launched EaZyMoney, a mobile money product that allows customers to save, send and spend money via their phones. Executive Director, Zenith Bank Mr. Peter Amangbo said it represented a remarkable step in the bank’s drive to play a leading role in the emerging cash-less society.
The bank’s share price went down by -52.27% and -38.18% in 2008 and 2009 while it closed uptick in 2010 with +10.37% gains. The appreciations was completely erased in 2011 as the stock records -18.85% loss while it records +35.47% YTD gain in 2012.
Fidson Healthcare Plc: The board and management of the company has said its 2012 results will be an improvement if there are no major disruptions in the second-half (H2) of this year. Chairman, Fidson Healthcare plc, Felix Ohiwerei said the company has made progress in the development of the Biotech factory taking all necessary steps to comply with the international Financial Reporting Standards (IFRS).
The stock price went down by -50.56% in 2009 while the losses were erased in 2010 with +64.52% gains recorded. It resumed downtrend in 2011 with -74.18% losses witnessed while the stock has recorded +17.07% YTD gains in 2012.
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