Category: Capital Market

 Telecoms services provider, MTN Nigeria Plc, has disclosed that its unaudited second-quarter (Q2) 2019 financial performance recording 34.8 per cent increase in profit after tax.  The profit after tax, according to report from the Nigerian Stock Exchange, stood at N98.931 billion from N73.395 billion reported in 2018, accounting for a growth of 34.79 per cent.  Profit before tax stood at N141.8 billion in H1 2019 as against N108.3 billion in H1 2018.  MTN Nigeria’s revenue for the period under review stood at N566.9 billion, as against N505.6 billion during the…

Flour Mills of Nigeria Plc, one of the integrated food business and agro-allied group, has posted 17 per cent growth in profit after tax for the first quarter ended June 30, 2019.  The group’s profit after tax stood at N4.2 billion, compared to N3.6 billion reported in 2018 Q1, accounting for 17 per cent- YoY growth.  According to its unaudited first quarter results for 2019, the group’s profit before tax was N5.5 billion, compared to N5.2 billion in 2018 Q1, representing 6 per cent YoY growth.  The company’s finance cost…

 Airtel Africa plc has posted a pre-tax of $167.4 million for the first quarter ended June 30, 2019 from $80.2 million a year earlier. Total revenue rose 6.9 per cent to $795.9 million in the three months, boosted by a 9.3 per cent rise in the company’s customer base to 99.7 million despite a hit from currency translation with constant currency growth of 10.2 per cent. This is the 6th consecutive quarter of double-digit constant currency growth, according to a statement from the company.  The telecom firm noted that revenue…

The NSE All-Share Index and market capitalisation both depreciated by 0.003 per cent to close the week at 27,918.59 and N13.606 trillion respectively. All other indices finished higher with the exception of NSE-Main Board, NSE Banking, NSE Pension, NSE Insurance, NSE AFR Div Yield and NSE Oil/Gas indices, which depreciated by 0.28 per cent, 0.39 per cent, 0.18 per cent, 0.94 per cent, 1.13 per cent and 0.19 per cent respectively.  A total turnover of 1.069 billion shares worth N11.393 billion in 16,346 deals were traded last week by investors…

  US stocks attempted to push higher for a fourth day as investors mulled weak economic data and mixed corporate results, including an unexpected quarterly loss for Boeing. Treasuries advanced along with bonds in Europe.   The Nasdaq and S&P 500 veered into positive territory, bolstered by UPS exceeding its profit guidance. In addition to Boeing, Caterpillar weighed on the Dow Jones Industrial Average after the equipment maker projected earnings at the low end of forecasts. European bond yields dropped to unprecedented lows as disappointing manufacturing data added to concerns…

  The Nigerian Stock Exchange (NSE) has announced the donation of N20 million to support initiatives focused on promoting early detection as well as increasing awareness and advocacy for cancer-related causes in Nigeria.  The donation is in line with its longstanding commitment to reduce the scourge of cancer in Nigeria. The donation was made known to participants at the 2019 edition of the annual NSE Corporate Challenge by Oscar Onyema, Chief Executive Officer, NSE. Commenting on the development, Onyema expressed delight at the donation. He said: “We are pleased to…

  Activities on the floor of Nigerian Stock Exchange (NSE) yesterday returned downward following sell-off that pervaded the equities market that has dropped by 0.19 per cent. The decline was impacted by negative sentiments on blue chip stocks. Consequently, the All-Share Index shed 136.68 basis points or 0.19 per cent to close at 28,088.74 index points as against 28,144.87 recorded the previous day while market capitalisation of equities depreciated by N27 billion to close lower at N13.689 trillion from N13.716 trillion as market sentiments remained on the red territory. Meanwhile,…

    There are strong indications that the Nigerian Stock Exchange (NSE) and NASD may resume five per cent Value Added Tax (VAT) charges on transactions today.   The order for exemption of VAT from all NSE and NASD transactions was granted by the Federal Government in 2014. The order became effective on the  July 25, 2014 for a 5-year period, and this is expected to end today.   To this end, all dealing members of NSE and NASD have been directed to resume charging VAT on all NSE and…

•Pays N16 dividend The Chairman of Dangote Cement Plc, Aliko Dangote, has promised that the expected increase in export of cement will attract a minimum of  $700 million into the economy. Disclosing this yesterday during the company’s 10th Annual General Meeting in Lagos, he said the foreign exchange inflow would assist the Federal Government as well as Dangote Group in its other activities across Africa. The chairman, who described the shareholders and staff as the bedrock of the company, also promised to pay N16 per every 50k share as dividend.…