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Conoil Plc Reports 35 Percent Decline in Profit After Tax for the First Nine Months of 2020

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Conoil filling station

Conoil Profit Declined by 35 Percent in Nine Months

Conoil Plc, a Nigerian petroleum marketing company, reported N88.101 billion revenue in the nine-month ended September 30, 2020.

This was 22 percent lower than the N112.723 billion achieved in the same period of 2019.

The company’s profit before tax declined by 33 percent from N2.452 billion reported in the corresponding period of 2019 to N1.634 billion in 2020.

Profit after tax declined by 35 percent to N1.110 billion, down from N1.700 billion recorded in the first nine months of 2019.

However, the company’s retained earnings rose by 14 percent to N16.407 billion from N14.441 billion attained in the same period of 2019.

The board of management of Conoil Plc approved a dividend payment of 200 kobo per share for the financial year ended December 31, 2019.

Conoil Plc has declared a dividend of 200 kobo per share amounting to N1,387,904,234 (One Billion, Three Hundred and Eighty-Seven Million, Nine Hundred and Four Thousand, Two Hundred and Thirty-four Naira) for the period ended December 31st, 2019.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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Nigerian Stock Exchange

List of Stock Brokers in Nigeria

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Nigerian Exchange Limited - Investors King

Stockbrokers are financial professionals that execute stock orders on behalf of clients in Nigeria and other countries. Stockbrokers are also known as investment advisors due to the fact that they offer investment advice and issue reports/analyses on securities to clients.

Most stockbrokers in Nigeria work for brokerage companies and handle transactions for both individual and institutional clients for commissions.

Here is the complete list of all active and inactive stockbrokers in Nigeria as of October 14, 2021. Investors should endeavour to check this list as often as possible as the Nigerian Exchange Limited can move an active stockbroker to an inactive list.

Check below for the list of stockbrokers in Nigeria and their status.

List of Stock Brokers in Nigeria

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Nigerian Stock Exchange

NGX Announces Resignation Of Onyema As Board Member

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CEO of the Nigerian Stock Exchange (NSE), Mr

Nigerian Exchange Limited (NGX) has announced the resignation of Mr. Oscar N. Onyema, OON, as Non-Executive Director, effective immediately.

Mr. Onyema’s resignation comes on the back of the imminent listing of Nigerian Exchange Group Plc (NGX Group or The Group), where he serves as the Group Managing Director/Chief Executive Officer (GMD/CEO), on the main board of NGX.

Consequent upon this resignation by Mr. Onyema, NGX will uphold Rule 184(2)(a) of the Securities and Exchange Commission Consolidated Rules 2013 which states that “A securities exchange shall have a code of conduct for its council members or board which shall be approved by the Commission, and shall contain amongst others the following provisions, to wit, that the council members or board shall: (a) not be a staff of a quoted company and its subsidiaries.”

Speaking on the development, the Chairman, NGX, Mr. Abubakar Mahmoud, SAN, OON stated, “On behalf of the Board and Management of The Exchange, I extend our heartfelt gratitude to Mr. Onyema for his selfless service to The Exchange. As he transitions into this new phase as the GMD/CEO of a listed company, we reiterate our commitment to act in the best interest of all Issuers to the benefit of all stakeholders in the capital market.”

The Chief Executive Officer, NGX, Mr. Temi Popoola, CFA noted that “NGX owes its solid foundation to the effort of leaders like Mr. Onyema who worked tirelessly to build a capital market infrastructure we can be proud of. During his time as a Non-Executive Director on the Board of NGX, he brought to bear his wealth of experience and the unique institutional knowledge he possesses and we are grateful for that”.

To commemorate the listing of NGX Group on NGX, Mr. Popoola will host the Group Chairman, NGX Group, Otunba Abimbola Ogunbajo and the GMD/CEO, Oscar N. Onyema, OON and other key stakeholders to a virtual Closing Gong Ceremony on Friday, 15 October 2021.

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Nigerian Stock Exchange

Sustained Interest in FBNH Boosts Nigerian Stock Market on Thursday

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stock - Investors King

Strong interest in the FBN Holdings Plc shares boosted the Nigerian Exchange Limited (NGX) on Thursday as FBN Holdings accounted for over 66 percent of the total volume traded on the bourse.

Investors exchanged total shares of 908,059,073 valued at N10.970 billion in 5,151 transactions during the trading hours of Thursday, the FBN Holdings accounted for 66.37 percent or 602,768,564 of the total shares traded.

Market capitalisation of all listed stocks rose to N21.432 trillion while the NGX All-Share Index appreciated by 0.19 percent to 41,129.98 index points.

Champion led gainers with 9.71 percent or N0.27 to close at N3.05 a unit. Afriprud followed with 7.81 percent or N0.50 to settle at N6.90 per share. FBN Holdings came third with a 7.31 percent or N0.80 gain to N11.75 per unit after hitting a new 52-week high at N12 per share.

However, FBN Holdings led the most traded stocks with 602,768,564.00 shares valued at N7,111,934,085.65. An unusual daily trading volume that has led to retail traders insinuating insider dealings. See the table below for more details.

Top Gainers 
Symbols Last Close Current Change %Change
CHAMPION N 2.78 N 3.05 0.27 9.71 %
AFRIPRUD N 6.40 N 6.90 0.50 7.81 %
FBNH N 10.95 N 11.75 0.80 7.31 %
UNIVINSURE N 0.21 N 0.22 0.01 4.76 %
CHAMS N 0.23 N 0.24 0.01 4.35 %

Top Losers

Symbols Last Close Current Change %Change
LEARNAFRCA N 1.40 N 1.26 -0.14 -10.00 %
ETI N 7.35 N 6.75 -0.60 -8.16 %
WAPIC N 0.50 N 0.47 -0.03 -6.00 %
LINKASSURE N 0.60 N 0.57 -0.03 -5.00 %
NEM N 2.02 N 1.93 -0.09 -4.46 %

Top Trades

Symbols Volume Value
FBNH 602768564.00 7111934085.65
GTCO 63749288.00 1811033414.35
CHAMPION 37684373.00 114841679.31
UNIVINSURE 21909509.00 4567506.24
UBA 21174295.00 176701388.65

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