Press Release: Seven Up 9 Months To December 2014 Results

SEVEN UP BOTTLING CO PLS 9 MONTHS TO DECEMBER 2014 INTERIM RESULTS

Revenue (Millions)

2014 N59,830

2013 N54,954

%age Change (+7%)

Profit After Tax (Millions)

2014 N4,515

2013 N3,917.6

%age Change (+15.2%)

Press Release

The post above and its ensuing comments, if any, is purely the opinion of the writer(s). It therefore should never be considered as an investment advise of any sort.… Continue Reading

Naira Falls Again At The Interbank (29/1/2015)

Nigerian naira shed 1.64 percent to close at 189.10 against the greenback on Thursday, despite dollar sales by the central bank and oil companies, dealers said.

The naira traded at around 191 on Thursday, prompting the central bank to intervene, which helped lift it to 185.20. But it then finished weaker compared with its close of 186 on Wednesday after demand surged.… Continue Reading

Analysis (Based on Latest Results): Why PZ Cussons Is a Sell

PZ Cussons Nigeria Plc. (6 months ended November 2014)

  • PZ Cussons Nigeria Plc (PZ) reported 2.5% YoY contraction in revenues to N31.7 billion for 6 months ended November 2014 while PBT and PAT declined 37%  and 38% YoY to N1.9 billion and N1.4 billion respectively.

Tight trading in HPC drives sales contraction

  • On the heels of flat top-line growth in FQ1, sales declined 4.6% YoY in FQ2 15 to N16.6billion– 7% behind our forecasts.
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Press Release: Unity Bank Appoints New Chairman and Vice Chairman

  • Unity Bank Plc has notified The Nigerian Stock Exchange of the appointment of Mr. Thomas A. Etuh and Alhaji Aminu Babangida as Chairman and Vice Chairman respectively effective 23 January 2015.
  • Mr Thomas Etuh who was appointed Pioneer Vice Chairman of the Board of Directors, Unity Bank Plc on April 22, 2014 has varied experience, gained from over two decades of contribution to the public and private sectors of the economy, especially the Agric sector.
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Press Release: PZ Cussons Nigeria Plc 2014/2015 Half Year Results

PZ CUSSONS NIGERIA PLC UNAUDITED ACCOUNTS FOR THE PERIOD ENDED NOVEMBER 30TH 2014

Revenue (Millions)

2014  N31,660

2013  N32,461

%age Change (-2.47%)

Profit after tax  (Millions)

2014  N1,441

2013  N2,318

%age Change (-37.8%)

Earnings Per Share

2014 N36

2013 N58

%age Change (-37.8%)

Press Release

The post above and its ensuing comments, if any, is purely the opinion of the writer(s).… Continue Reading

Official: What Godwin Emefiele told the Business Community When He Met With Them

Emefiele Dangote Ovia

Godwin Emefiele has been under the spotlight for weeks now as Nigeria deals with a major depreciation of the naira with him as the chief trouble-shooter. After a spate of circulars and pronouncements that have jolted the markets, he decided to meet with the business community to allay their fears. Here is an official statement from the CBN summarizing what he told the business community when he met with them Tuesday morning at the Intercontinental Hotel.… Continue Reading

Respite as Naira Regains Sharply after NNPC $350m Sale

dollar-naira

The Nigerian naira firmed sharply on Wednesday after state-oil company NNPC sold around $350 million to lenders, helping the currency recover from a record low against the dollar.

The unit closed at 186 naira to the dollar, gaining 3.55 percent in volatile trade from Tuesday’s record low close of 192.10.

The NNPC, which accounts for the bulk of hard currency traded on the interbank market, sells dollars every month to buy naira for its local operations.… Continue Reading

Blow Out Results!! Apple Cash Balance Now 5x More Than Nigeria’s External Cash Reserves

Apple

Apple Tuesday announced financial results for its fiscal 2015 first quarter ended December 27, 2014. The Company posted record quarterly revenue of $74.6 billion and record quarterly net profit of $18 billion, or $3.06 per diluted share. These results compare to revenue of $57.6 billion and net profit of $13.1 billion, or $2.07 per diluted share, in the year-ago quarter. Gross margin was 39.9 percent compared to 37.9 percent in the year-ago quarter.… Continue Reading

Official: Radisson Blu VI, Shuts Down For Renovation

Radisson

  • Radisson Blu Anchorage Hotel located on Victoria Island, Lagos has shut down operations to conduct extensive renovation of its facilities, as part of its management’s commitment to retain standards and remain the hospitality of first choice for guests visiting Lagos for business or pleasure.
  • According to a statement by Anchorage Leisures Limited, owners of the facility, the renovation exercise will “cover areas such as power generation, cooling system as well as other critical equipment.”
  •  “The magnitude of the renovation work has however necessitated shutting down of business operations for the duration of the renovation”, the statement further indicated.
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Oops: Power Generation Down by 2,042.2MW

  • The country is currently losing 2,042.2 megawatts of electricity due to gas supply shortage and poor water management.
  • The 411 G2 and G4 units of the Shiroro hydro power plant are currently losing 300MW, while the loss of 1,742.2MW is attributed to gas supply shortage at various legacy gas-fired power plants, including the National Integrated Power Project plants.
  • The information on the loss was contained in the daily broadcast of the Transmission Company of Nigeria. 
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