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C&I Leasing Plc records 31.27% decline in 2020 Q3 gross earnings

C&I Leasing Plc recorded declined income in three income-generating units.

Published

6 months ago

November 3, 2020

C&I Leasing gets approval to list N539 million worth rights issue, C & I Leasing Plc sets ambitious revenue target for 2023

C&I Leasing Plc reported revenues of N7.07 billion in 2020 Q3 compared to N10.29 billion in the corresponding period of 2019 – 31.27% decline. 

READ: Coronavirus will cost Premier League clubs £1 billion

Key highlights for 2020 Q3 

Gross earnings declined to N7.07 billion, -31.27% YoY. 
Lease rental income declined to N4.16 billion, -43.97% YoY.
Outsourcing income increased to N2.56 billion, +22.86% YoY. 
Tracking income declined to N43.79 million, -23.21% YoY.
Other operating income declined to N200.80 million, -55.67% YoY.
Outsourcing expense increased to N2.45 billion, +29.94 YoY.
Other operating expenses increased to N325.10 million, +74.39% YoY.
Depreciation expense increased to N1.73 billion +81.00% YoY.
Pre-tax profits declined to N81.44 million, -72.45% YoY. 
Earnings Per Share declined to 10 kobo, -84.06% YoY.

READ: C&I Leasing Plc begins JV with Sifax Marine

Bottom Line: C&I Leasing Plc recorded declined income in three income-generating units. Profits declined in the third quarter due to declined Other operating income, as well as, rising outsourcing and other operating expenses.

Company Results

Rak Unity Petroleum Company Plc Posts N63 million loss in 2020 FY results

Rak Unity Petroleum Company Plc reported revenue of N1.41 billion representing a 68.14% decline from the N4.42 billion revenue reported a year earlier.

Published

3 months ago

February 2, 2021

Adeyemi Adebayo

Focus: This small-cap oil company is seriously lagging behind

Rak Unity Petroleum Company Plc released its 2021 FY results reporting total revenue of N1.41 billion representing a 68.14% decline from the N4.42 billion revenue reported a year earlier.

Operating expenses during the year was N149.65 million in 2020 compared to N221.89 million in 2019. –32.56% YoY
The company reported a loss after tax of N63.02 million in 2020 compared to N14.52 million loss after tax in 2019.
It reported a loss per share of N1.11 in 2020 compared to N0.26 loss per share reported in 2019.
No dividend announcement was made in their press release.
The company share price of N0.30 unchanged YTD.

See link to results here

Company Results

Conoil posts 23% post-tax profit decline in 2020 FY results

Conoil Plc reported a revenue of N117.47 billion representing a 15.95% decline from the N139.76 billion revenue reported a year earlier.

Published

3 months ago

February 2, 2021

Adeyemi Adebayo

Conoil Plc released its 2021 FY results reporting revenue of N117.47 billion representing a 15.95% decline from the N139.76 billion revenue reported a year earlier.

Operating expenses during the year was N7.64 billion in 2020 compared to N9.68 billion in 2019. –20.9% YoY
The company reported a profit after tax of N1.52 billion in 2020 compared to N1.97 billion in 2019. –22.97% cut YoY.
It reported an earnings per share of 219 kobo in 2020 compared to 284 kobo earnings per share reported in 2019. –22.89% YoY.
No dividend announcement was made in their press release.
The company share price of N20.85, up +0.72% YTD.

See link to results here

Nairametrics

C&I Leasing Plc records 31.27% decline in 2020 Q3 gross earnings

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C&I Leasing Plc records 31.27% decline in 2020 Q3 gross earnings

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Company Results

Rak Unity Petroleum Company Plc Posts N63 million loss in 2020 FY results

Company Results

Conoil posts 23% post-tax profit decline in 2020 FY results

Nairametrics | Company Earnings