Africa: Ghana’s healthcare overwhelmed due to Covid-19 – President
AfCFTA: Nigerian Commodities Exchange prepared for agreement – MD
Expansionary monetary policy expected to support Nigerian, global stocks
4 cryptos gain over 400% in a month, far outperforming Bitcoin
Naira remains stable across forex markets as external reserve continues to rise
COVID-19 Update in Nigeria
Top 5 billionaires lost $8 billion in a day
FG receives N144 billion in dividends from NLNG in 2020
Gulf of Guinea Piracy: Effective Military capacity needs to be deployed – Maersk
Reps oppose school resumption date, ask for 3 months extension
Companies
Farmcrowdy opens the year with new prices for poultry farm units
Onyeka Akumah, the Founder and CEO of Farmcrowdy says that Farmcrowdy’s primary mission is to enable everyone participate in the achievement of global food security.
Farmcrowdy, Nigeria’s foremost digital agricultural tech company founded by serial entrepreneur, Onyeka Akumah, has been effectively empowering farmers by providing farm input, training, finance and successfully increasing farmers’ income by an average of 80% since 2016 through their digital platform.
Since inception, Farmcrowdy has empowered over 7,000 farmers across 10 states in Nigeria, has a record of over 20,000 farm sponsorships from all over the world, over 64,000 farm followers and has reared over One Million chickens through its poultry farms.
This year, the digital agricultural platform has decided to make good on its promise of enabling everyone to participate in the achievement of global food security by lowering the barrier of entry into the agriculture space. For the first time since inception, the company has launched a Poultry Farm for only 50,000 NGN per farm unit with a Return After Harvest (RAH) of 11% and a 6-month farm cycle. This is a huge slash from the previous price of 96,000 NGN.
Farmcrowdy closed the previous year 2018 with sold-out farm units on all crops and chickens and was the recipient of numerous awards including Digital Business of the Year 2018 by the Global African Business Awards (GABA) in Ethiopia, they were conferred with the National Productivity Order of Merit Award 2018 by His Excellency Muhammadu Buhari, President of the Federal Republic of Nigeria, awarded with the Best African AgriTech Solutions Awards at the Apps Africa Innovation Awards 2018 in South Africa, AgriTech Company of the Year 2018 at the Meet the Farmers Conference in Dubai, one of the Top 100 Fastest Growing SMEs in Nigeria in 2018 by BusinessDay and AgriTech Company of the Year Award at the Nigeria Technology Awards 2018.
Onyeka Akumah, the Founder and CEO of Farmcrowdy says that Farmcrowdy’s primary mission is to enable everyone participate in the achievement of global food security by encouraging every individual to contribute to the agriculture landscape by becoming a digital farmer.
Regardless of nationality, race, culture or status, you too can now sponsor and empower a rural farmer.
Curious about how to sponsor a farm? The process is easy:
- Visit the online platform www.farmcrowdy.com OR download Farmcrowdy’s mobile app on Google Play Store https://bit.ly/2mZeZiB or the iOS App Store https://apple.co/2M6BsD4
- Register as a farm sponsor
- Select a farm type and any number of farm units you want.
- Sponsor as many farm units as you want.
After sponsorship, you will get video and picture updates on a monthly basis showing you the progress on your farm.
Want more news from Farmcrowdy? You may follow them on all social media platforms www.instagram.com/farmcrowdy, www.facebook.com/farmcrowdy, www.twitter.com/farmcrowdy and www.linkedin.com/farmcrowdy for more information.
Companies
Cutix Plc forecasts N148 million profit in Q4 2021
Cutix Plc has projected that its revenue will double and profit will increase by 9% to N148 million.
Cutix Plc has projected that in the fourth quarter of its financial year 2021, its revenue will double and profit will increase by 9% to N148 million.
These projections were made by the company in a recent earnings forecast issued by the Management, and signed by the Company’s CEO and CFO.
READ: Vitafoam shares gain 9.6%, as company reports N4.11 billion as profit in 2020
Key highlights of the earnings forecast for Q4 ended April 30, 2021
- Revenue to increase to N1.66billion, 100% Q-o-Q.
- Cost of Sales to increase to N1.16 billion, 70% Q-o-Q.
- Distribution, Admin & Other expenses to increase to N232.89 million, 14%% Q-o-Q.
- Other Income to remain unchanged at N2.50 million,
- Finance Charges to increase slightly to N47.38 million, 3% Q-o-Q.
- Operating income to increase to N227.83 million, 14% Q-o-Q.
- Taxation is projected at N79.74 million.
- While Profit attributable shareholders is projected at N148.10 million.
READ: Royal Exchange Plc forecasts N500.83 million PAT in Q1 2021
Bottom line
The earnings forecast was made on the ground that the Nigerian economy will continue improve, as the country recovers from the impact of COVID-19. In this regard, revenue in the fourth quarter of 2021 will be slightly higher than the revenue projected in the third quarter of 2021.
READ: Okomu Oil Plc records 27.01% decline in 2020 Q3 revenues
However, the increase in the cost of sales driven by the input cost will pressure profitability to the tune of N148.10 million, which is 9% higher than the profit after tax made in the corresponding quarter of 2020.
Companies
PZ Cussons proposes dividend payout of N397 million to the shareholders
The Board of Directors of PZ Cussons Nigeria Plc has proposed the payment of N397 million to the shareholders of the company.
Companies
Neimeth proposes N123.45 million dividend to be distributed to shareholders
Neimeth has proposed a total final dividend of N123.45 million to be distributed to the shareholders of the company.
