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Results - Okomu, Berger Paints and UBA


Okomu Oil Palm Plc announced a turnover growth of 89.6% to N4.49bn in its third quarter performance to September 2008. The company’s net profit rose by 367.6% to N1.76bn, culminating in a net profit margin of 39.1% as against 15.8% in the corresponding period.


Berger Paints Plc released results for the third quarter ended Sept-08 with a turnover growth of 17.4% to N1.9bn and a net profit growth of 89.6% to N189.6mn. The company’s net profit margins improved from 4.4% in the corresponding period to 9.9% currently.


Today, UBA Plc presented and analyzed its 2008 financial results to investors and analysts during an investor forum that took place at the group’s head office on Marina Lagos.
Management of the Bank discussed its aggressive expansion strategies in pursuit of its vision of becoming Africa’s global bank. Currently operating in eight countries and with about five banking licenses to operate in more African countries in the offing, the bank plans to have rolled out business offices in about twenty three countries by its year-end in 2009. Meanwhile, it was disclosed that its operations outside Nigeria are yet to contribute to the group’s bottom line, whilst believing that set targets for the current financial year are achievable in spite of the challenges foreseen in the coming year in view of perceived global recession.
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