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Stanbic IBTC Holdings Plc posts Profit After Tax of N17.04 billion in Q4 2020

Stanbic IBTC reported a PAT of N17.04 billion for Q4, 2020, representing a 12.5% decline when compared to N19.48 billion made in Q4 2019.

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Demola Shogunle CEO of Stanbic IBTC Bank

Stanbic IBTC Holdings Plc has reported a Profit After Tax of N17.04 billion for the fourth quarter of 2020 (Q4, 2020), compared to N19.5 billion made in the corresponding period of 2019, indicates a decline in profit by 12.5% Year-on-Year.

This is according to the firm’s recent financial statement made available on the Nigeria Stock Exchange and seen by Nairametrics.

Stanbic IBTC Plc had earlier posted an improved Profit After Tax figures of N20.96 billion for Q3, 2020, despite recording a noticeable decline in Interest income for the period. The Profit After Tax however dipped in Q4 2020.

READ: Diageo posts £2.2 billion operating profit, growth in Nigeria, others failed to offset decline

Other key highlights for Q4 2020 are;

  • Gross earnings declined to N51.16 billion, -11.3% Y-o-Y.
  • Net interest income declined to N17.96 billion, -6.3% Y-o-Y.
  • Fee and commission revenue increased to N19.32 billion, +4.5% Y-o-Y.
  • Trading revenue declined to N7.7 billion, -15.3% Y-o-Y.
  • Pre-tax profit declined to N17.85 billion, -18.7% Y-o-Y.
  • Operating expenses increased to N23.43 billion, +4.41% Y-o-Y.
  • Staff costs increased to N10.9 billion, +8.5% Y-o-Y.
  • Earnings Per Share declined to 149 kobo, -17.2% Y-o-Y.

READ: Vitafoam declares N1.11 billion as profit in the first quarter of its financial year 2020/21

Chidi Emenike is a graduate of economics, a Young African Leadership Initiative Fellow and an Investment Foundations certificate holder. He worked as a graduate Teaching Assistant in the Federal College of Education Kano and is also a trained National Peer Group Educator on Financial Inclusion

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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.

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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

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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.

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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

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