Monday, July 23, 2012 / The Analyst / Proshare Research
Companies in the NEWS Today – Standard Alliance Insurance Plc, Flour Mills of Nigeria Plc, Nigerian Breweries Plc and Oando Plc
Standard Alliance Insurance Plc, Nigerian Association of Road Transport Owners (NARTO) and the National Union of Road Transport Workers (NURTW) last Thursday, flagged off a health insurance scheme for members of the two unions at a ceremony in Obajana, Kogi State. Bimbo Ogundokun, general manager, E-Business, Standard Alliance Insurance Plc, noted that it was not the prayer of anyone to be involved in any accident but when it occurs, there should be immediate assistance to get the victim back to shape, assuring the unions of prompt payment of genuine claims by the company whenever any such case arises.
The insurance firm recorded -64.94% losses in 2008 while it further recorded -63.09% losses in 2009. The stock closed 2010 flat while -9.09% loss was recorded in 2011. In 2012, the stock share price has remained flat as it currently trades at 50k nominal price.
Flour Mills of Nigeria Plc under its strategic market enhancement agenda has unfolded a new organizational structure and investment profile. Under the new arrangement, Mr. Ed Jackson has been appointed as the new managing director of Food Division, to oversee the food manufacturing division and be responsible for flour and rice milling, sugar refining, pasta products and other processed foods, all wholesale and retail sales, distribution and logistics operations including BAGCO operations.
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 -15.97% YTD losses so far in 2012. In its latest Audited result, the firm records positive figures in both turnover and PAT.
Nigerian Breweries (NB) Plc, has earmarked the sum of 78 million euros (about N15 billion) for the construction of new brewing house and can line in Aba, Abia State. This was disclosed by the Brewery Manager, NB Plc, Aba branch, Ukeje Udah, during a courtesy visit to the state Governor, Theodore Orji, recently. Udah said Abia State was considered to be the safest state in the country, where such investment could be made.
The Blue Chips stock recorded -16.63% declines in 2008 while the loss was erased in 2009 with +29.79% gains recorded. It went up further by +45.42% and +22.46% in 2010 and 2011 respectively with +22.86% YTD gains witnessed so far in 2012. The plan of constructing new brewing house and can line will help increase the production base of the company.
Oando Nigeria Plc’s shareholders have called on the Board of Directors of the company to raise fresh funds by increasing its share capital. The shareholders at the company’s Annual General Meeting (AGM) held at the weekend in Lagos, noted the huge investment embarked upon by the company in its diversified strategy. Sir Sunny Nwosu, National Coordinator, Independent Shareholders Association of Nigeria (ISAN) said, “Information must get to the stock market at the right time so that the price of the company’s share can be adequately priced even with the unfortunate challenges we are facing in the capital market and economy in general.
The Oil & Gas stock recorded -34.91% declines in 2008 while parts of the losses were erased in 2009 with +17.78% gains recorded. It went down by -29.78% and -66.67% in 2010 and 2011 while -3323% YTD losses has been witnessed so far in 2012. The call by shareholders on the company to raise fresh funds by increasing its share capital will the investors increased their stake in the firm.
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