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Nigerian Breweries Profit rises by 37%



Nigerian Breweries Plc has recorded a profit after tax of N16.86bn in its unaudited results for the half-year ended June 2009.

This amount represents an increase of 37 per cent or N4.55bn over 12.34bn recorded in the same period last year.

According to the Nigerian Stock Exchange report for the week ended July 17, 2009, the company‘s turnover also rose by 22 per cent to close at N82.69bn as against 68.05bn the preceding year.

In its audited results for the year ended December 31, 2008, Capital Hotels Plc recorded a turnover of N3.96m, representing an increase of 41 per cent or N1.15m compared with N2.81bn recorded the previous year.

Its profit after tax stood at N209.13m, an increase of 18 per cent or N32m compared to N177.03 in 2008.

Accordingly, the company‘s board is recommending a dividend of five kobo per share for shareholders registered in its books by August 3, 2009.

In the over-the-counter bond market 500.31 million units, worth N548bn were exchanged of the end of the week, in 4,148 deals.

This was in contrast to 529.6 million shares, valued at N548.23bn, exchanged the preceding week, in 3,618 transactions.

According to the NSE report, the most active bond, measured in terms of turnover, was the 5th FGN Bond 2028 Series 5, with a traded volume of 62.92 million units, valued at N80.39bn in 499 deals.

Meanwhile, the banking sub-sector was the most active during the week, measured in terms of volume, with 1.14 billion shares, valued at N12.4bn, exchanged by investors, in 29,136 deals.

The insurance sub-sector followed on the actively chart wth a turnover of 47,944 million shares, valued at N359m in 4,742 deals.

Volume in the sub-sector was boosted by activity in the shares of Goldlink Insurance company Plc, and AIICO Insurance Plc.

Oando Plc led on the price gainers‘ chart appreciating by N6.36 to close at N89.86 per share, while Nigerian Breweries Plc gained N2.36 to close at N52.35 per share.

On the other hand, African Petroleum Plc topped the price losers‘ chart, shedding N8.72 to close at N80.78 per share, while another petroleum marketing stock, Total Oil Nigeria Plc, lost N8.27 to close at N157.98 per share




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