• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Markets

CORPORATE ACTIONS: An Exit and Less Sugar

Onome Ohwovoriole by Onome Ohwovoriole
April 7, 2019
in Markets, Spotlight, Stock Market
Corporate Actions
Share on FacebookShare on TwitterShare on Linkedin

Corporate actions are decisions taken by companies’ boards of directors or management teams, that could have impacts on the firms themselves or shareholders.  

Examples of corporate actions include the release of quarterly and full year results,  payment of dividends, closing of shareholders’ registers, announcing qualification dates and Annual General Meeting (AGM) dates.  

Here is a review of corporate actions that took place last week,

RelatedStories

Oando Plc,

Oando continues with strong financial performance, reports 172% growth in gross profit in Q1 2025 financial report 

June 26, 2025
Oando Plc,

Oando posts N113 billion Q1 PAT for 2025, on surging income tax credit 

June 25, 2025

Less Sugar 

Dangote Sugar released its full-year 2018 results. Topline and bottom line dipped significantly.

Management blamed this on smuggled sugar, the logjam at Apapa, and to a minor extent communal crisis.

The company has declared a final dividend of N1.10 per share, N0.65 lower than the N1.75 paid in 2017.

Fidson Healthcare Plc 

Fidson Healthcare Plc released its results for the 2018 financial year. The company also held a “Facts behind the figures” session at the Nigerian Stock Exchange (NSE). Management attributed the  N97.4 million loss to high operating and finance costs.  

Cheers at May

 May and Baker Plc also released its full-year 2018 results. The company made a profit after tax of  N342 million and declared a dividend of N0.20 per share.  Qualification date is the 19th of April, 2019.  

Multi-millionaire transporter Samuel Onyishi has also taken a stake in the firm and is now one of the largest individual shareholders.

Secure losses continue 

Secure Electronic Technology Plc released its Q1 2019 results. The company remains loss-making with a loss after tax of N21.8 million. In 2018, it recorded a full year loss after tax of N152 million. 

More losses at Morrison 

Morrison Industries Plc released its full-year 2018 results. Turnover decreased while the company recorded a loss for the fifth consecutive year.  

Delayed results   

Several firms issued notices that they would be delaying the release of their full-year audited financial statements which should have been due March 31st, 2019, as well as Q1 2019 results.  

Cornerstone Insurance, in its notice to the NSE, stated that it would file its 2018 audited results on or before 30th of June 2019. As such, the release of its results for the first quarter ended March 2019 would also be delayed.  

Daar Communications, in its notice, stated that the delay behind the filing of its full-year 2018 results was due to the request of its external auditors to review the company’s trade receivables, in line with IFRS 15.  

First Aluminum attributed the delay in filing of its full-year 2018 results to an ongoing audit process. The firm, however, expects to send the results on or before the 30th of April, 2019.  

FBN Holdings has had to delay the submission of its results since several of its subsidiaries are yet to obtain final regulatory approval. The company, however, expects to file its results on or before the 30th of April, 2019.  

FTN Cocoa Plc has attributed the delay in the submission of its full-year 2018 results to an ongoing restructuring exercise.  

Omoluabi Mortgage Bank has delayed the release of its 2018 results due to the implementation of IFRS9 on its financials. The bank will submit its results on or before the 30th of June, 2019.

AG Leventis Plc has attributed the delay of its full-year 2018 results on the need to conclude audit-related matters. The firm, however, stated it would do so on or before the 30th of April, 2019.

Agenda 2021 

In a notice to the NSE, GSK Consumer Nigeria disclosed a review of its operating model effective Q3 2021. Its Agbara plant will be shut down and its operations moved to third-party manufacturers under a contract basis.    

An exit 

Oando Plc disclosed it had sold a minority 25% stake it held in Axxela Limited (formerly Oando Gas and Power) to Helios Investment Partners, for $45 million. Helios had in 2016 bought a 75% stake in the firm.

Departure  

UAC of Nigeria Plc announced the resignation of Mrs Omolara Elemide from the board of the company, effective April 1, 2019.  Prior to this, Elemide was Executive Director, Corporate Services and had a stint as Acting Group Managing Director of the conglomerate.  

 


Follow us for Breaking News and Market Intelligence.
Tags: AG Leventis PlcAxxela LimitedCornerstone InsuranceCornerstone Insurance - NewsDaar Communications Plc.Dangote Sugar Refinery PlcDr. Samuel Maduka OnyishiFBN Holdings PlcFidson Healthcare PlcFirst Aluminium Nigeria PlcFTN Cocoa Processors PlcMay and Baker PlcMorrison Industries PlcOando PlcOn the MoneySecure Electronic Technology Plc
Onome Ohwovoriole

Onome Ohwovoriole

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

Related Posts

Oando Plc,
Companies

Oando continues with strong financial performance, reports 172% growth in gross profit in Q1 2025 financial report 

June 26, 2025
Oando Plc,
Company Results

Oando posts N113 billion Q1 PAT for 2025, on surging income tax credit 

June 25, 2025
Meet Arnold Ekpe, new Chairman of Dangote Sugar 
Appointments

Meet Arnold Ekpe, new Chairman of Dangote Sugar 

June 12, 2025
Oando Plc,
Companies

Oando deepens upstream investment with $375m financing deal  

June 5, 2025
Oando Plc,
Companies

Oando secures $375 million injection from Afreximbank and Mercuria, eyes 100,000 barrels per day 

June 5, 2025
Ohara Pharmaceutical increases take in Fidson, Fidson and Ohara signs partnership, Fidson Healthcare Plc, Fidson list additional shares Fidson and GSK business partnership, Fidson Healthcare Plc records 202% increase in 2020 FY pre-tax profit, Fidson proposes N417 million as dividend for 2020
Company Results

Fidson Healthcare records N4.8 billion profit in Q1 as revenue spikes across key segments 

May 3, 2025
Next Post
investors on NSE, Stock to watch this week, Airtel Africa

FBN Holdings maintains spot in weekly watchlist

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • Alleged $854K, N590m fraud: Court to decide Afriq Arbitrage CEO’s fresh bail request on July 22 
  • Trump sets August 1 tariff deadline as global trade talks intensify 
  • CapitalSage Holdings appoints former ETG Executive Tarun Chawla as Executive Director to lead agri-commodities and FMCG subsidiaries 

Follow us on social media:

Recent News

Federal High Court, REA

Alleged $854K, N590m fraud: Court to decide Afriq Arbitrage CEO’s fresh bail request on July 22 

July 7, 2025
Trump halts tariff hikes on most trade partners, raises China duties to 125% 

Trump sets August 1 tariff deadline as global trade talks intensify 

July 7, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics