Proshare Logo
   Market Date: 29-01-2015   
Agriculture ARTS FINANCE All One Min News Archives Bonds Cap Mkt Sentiments Capital Market CASHLESS NIGERIA Commodities Corporate Earnings Daily & Weekly Market Updates Elections Enterpreneurship ETFs Forex Frauds & Scandals General Global Market Insurance Investors NewsBeat Islamic Finance Mergers & Aquisitions Money Market Mortgage Mutual Funds Nigeria Economy Oil Sector Opinions and Analysis Pensions People Personal Finance Politics Power Products & Services Professionals Property Public Offers Private Placements Regulators REITs Stock PICKS Taxation Telcos Travel & Tours Unlisted OTC MARKET World of Business

NB Plc records growth in profit

Category: Daily & Weekly Market Updates

  Read (700)
NB Plc records growth in profit

September 26, 2005/Source The Punch



Nigerian Breweries Plc  released its financial performance for the half year ended June 30, 2005.

The company had disappointed many investors with 40 kobo dividend paid in respect of 2004. This made some investors to switch over to its closest rival, even at a higher price.

However, NB Plc has announced 125 per cent growth in gross profit for the half year, while turnover rose by 11 per cent. The company posted a turnover of N9.199billion, up from the N5.858billion posted in the corresponding period of 2004.

Gross profit rose from N3.157billion in 2004 to N7.44billin, while profit after tax grew by 125 per cent from N42.147billion to N4.837million.

In their comments sent to the NSE along with the result, the directors said, “The sustained restructuring projects that were executed to realign our operations to developments in the operating environment are beginning to yield positive effects as the result has shown.â€ÂÂÂÂÂ

They said focused cash management has drastically reduced bank overdrafts and hence interest cost. The future outlook remains reasonably bright and this augurs well for the result of the second half of 2005.Consegqunetly, the result for 2005 should be better that year 2004, provided there are no major disruptions to our operating environment.â€ÂÂÂÂÂ

The result impacted positively on the NB Plc ‘s equity price as it rose by 5.4 per cent of 187 kobo to close at N36.73 per share on Friday.

Tags: , 

Comment With Your Facebook or Yahoo! ID

Latest news

News on Daily & Weekly Market Updates

About Us

Who We Are
Our Team & Partners
Corporate Governance
Advertise with Us
Subscribe / Unsubscribe
Site Map
News Feed - RSS
Contact Us
Volunteer Program
Message from CEO

News & Features
The Analyst / Market Data
Investor Relations Portal
The Regulator
Economy & Politics
Training Portal
Events Calendar
NewsStands - Online Reputation

Products and Services

Research & Market Intelligence
Analyst Services
Offers & Rights Support Service
Investor Relations Services
Alert & Subscription Services
Share Support Services
Proshare Consult
Event & Seminar Coverage
Market Directory
File a Complaint
News & Analysis

News from TheANALYST
Video News from WebTV
Money Market Updates
Opinions & Analysis
Nigerian Economy
Market Data
The Regulator
Discussion Forum

Subscriber Agreement
Privacy Policy
Data Policy
Copyright Policy
Comments in Site
Advertising Code
Conflict of Interest
Content Partnership
3rd Parties

Online Trading and Execution
Legal Support Services
Web/Technology Services
File a Complaint

CBN Governor 2014