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Results - PZ, ETI, GNI, and First Aluminium

Category: Corporate Earnings

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Results - PZ, ETI, GNI, and First Aluminium

July 30, 2008

PZ Cussons and Great Nigeria Insurance (GNI) announced full year results, while ETI, GNI and First Aluminium reported half year financial results.

PZ recorded a 22% growth in turnover to N65.9bn with a net profit growth of 12% to N3.95bn. Management recommended a cash dividend of 62kobo as members’ register closes on 25th August 2008 and payments will be made on 11th September, 2008. 

Ecobank Transnational Incorporated released its results for the half year ended Jun’08. The bank achieved a gross income growth of 61% to N61.26bn, whilst growing net profit by 37% to N9bn.          

Great Nigeria Insurance Plc announced a gross premium growth of 110% to N608mn and a net profit growth of 158% to N90.25mn in the full year results it released today. The company also reported its half year result to Jun’08 with a gross premium growth of 33% to N563.7mn, while net profit grew by 13% to N85.4mn.          

First Aluminium’s half year (Jun’08) results showed a flattened turnover at N4.28bn and a 92% decline in net loss to N13.8mn. Also, the management of Aso Savings and Loans announced the closure date the corporate action (N0.05 cash dividend) it announced recently. The company has fixed October 6 and October 24, 2008 as closure and payment dates respectively.       

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