Connect with us

Nigerian Stock Exchange

Lafarge Africa Plc Profit After Tax Declined by Over 270 Percent in 2020

Published

on

Lafarge Africa

Lafarge Africa, a listed manufacturing company in Nigeria, reported revenue of N230.573 billion for the financial year ended 31, December 2020.

The company disclosed in its audited financial statement released on Wednesday.

Revenue rose from N212.999 billion achieved in 2019. While gross profit grew from N55.952 billion in 2019 to N67.240 billion in 2020.

Operating profit stood at N45.673 billion in the year under review, up from N34.910 billion filed in 2019.

Profit after minimum tax from continuing operations rose to N37.195 billion from N17.215 billion in 2019.

The company paid income tax of N6.352 billion in 2020, more than the N1.697 paid in the corresponding period of 2019.

Therefore, profit after tax from continuing operations stood at N30.842 billion in 2020, over 270 percent below the N115.104 billion recorded in 2019 when the company discontinued operations or sold a business unit at N99.587 billion.

Speaking on the company’s performance, Khaled El Dokani, CEO of Lafarge Africa stated: “Our “HEALTH, COST & CASH” action plan delivered results in 2020 amidst the COVID-19 pandemic, which triggered inflationary and Naira devaluation pressures and production challenges. Full year 2020 results remained resilient, with net sales of +8.3%, recurring EBIT of +30.8% and net income of +98.8%. We are proud of our people, who stand with our communities, and of our sustainability commitments to accelerate the net zero pledge through affordable clean energy and our agri-ecology footprint”.

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.

Nigerian Stock Exchange

Hallmark Insurance, Japaul Gold Lead Gainers as Equities Market Closed in Green

Published

on

stock bull

Consolidated Hallmark Insurance Plc and Japaul Gold led gainers on Thursday as the Nigerian Stock Exchange closed in the green.

Investors exchanged 145.332 million shares valued at N1.576 billion in 3,525 transactions during the trading hours of Thursday.

Market value of listed equities inched slightly higher to N20.300 trillion while the Nigerian Stock Exchange All-Share Index gained 0.07 percent to 38,799.83 index points.

Banks’ stocks led the most traded stocks with First Bank of Nigeria Holdings leading with 21,851,331 shares valued at N157,179,233.85. This was followed by GTBank’s 20,500,310 shares estimated at N589,173,071.90. See the details below.

Top Trades

Symbols Volume Value
FBNH 21,851,331 N157,179,233.85
GUARANTY 20,500,310 N589,173,071.90
ZENITHBANK 17,584,133 N379,878,208.55
ACCESS 8,596,059 N68,887,206.60
JAPAULGOLD 7,580,118 N4,339,371.64

Top Gainers

Symbols Last Close Current Change %Change
CHIPLC N0.31 N0.34 0.03 9.68%
JAPAULGOLD N0.53 N0.58 0.05 9.43%
OANDO N3.1 N3.26 0.16 5.16%
AIICO N1.2 N1.26 0.06 5.00%
ZENITHBANK N21 N21.8 0.8 3.81%

Top Losers

Symbols Last Close Current Change %Change
ROYALEX N0.39 N0.36 -0.03 -7.69%
JAIZBANK N0.66 N0.62 -0.04 -6.06%
HONYFLOUR N1.19 N1.13 -0.06 -5.04%
LINKASSURE N0.84 N0.8 -0.04 -4.76%
DAARCOMM N0.21 N0.2 -0.01 -4.76%

Continue Reading

Nigerian Stock Exchange

Delist: 11 Plc Opens Escrow Account to Settle Shareholders

Published

on

Mobil Service Station

In a bid to complete its ongoing delisting process and settle shareholders accordingly, 11 Plc, formerly Mobil, has opened an escrow account with Greenwich Registrars and Data Solutions Limited and provided sufficient funds to shareholders, who as of March 15, 2021, have accepted the Exit Consideration of N213.90 per share based on the highest price of N213.90 at which 11 Plc traded in the last 6 months preceding the date of the Annual General Meeting where the resolution to delist was passed in line with the Nigerian Stock Exchange guidelines.

The company said, “Further to the application made to The Exchange by 11 Plc on the Voluntary Delisting of the Company from The Exchange as recommended by the Board of Directors, the Exchange approved the delisting application subject to 11 plc’s evidence of opening an escrow account in the Registrar’s name and evidence that shareholders who have accepted to exit have been paid.

11 Plc attributed the decision to delist from NSE to the need to strategise for better performance, minimise costs, and stay competitive within its industry.

On the escrow account, it said “the consideration accruing to shareholders of 11 plc that elect to accept the Exit Consideration has been computed as of March 15, 2021. The cash consideration will be settled by way of electronic transfer to the respective bank accounts of Shareholders and it is expected to be completed on or before April 16, 2021.

 

Continue Reading

Nigerian Stock Exchange

Dr. Ajoritsedere Josephine Awosika Access Bank Chairman Scoops More Access Bank Shares

Published

on

Dr. Ajoritsedere Josephine Awosika - Investorsking.com

Dr. Ajoritsedere Josephine Awosika, the Chairperson of Access Bank Plc, scooped additional 7,109,104 ordinary shares of the bank on Tuesday, according to the latest disclosure statement of the bank.

In the statement signed by Sunday Ekwochi, Company Secretary, Access Bank Plc, and released via the Nigerian Stock Exchange (NSE), Dr. (Mrs) Ajoritsedere Josephine Awosika acquired the shares on Tuesday 6th, April 2021 at N8.15 per share from the Nigerian Stock Exchange trading floor in Lagos, Nigeria.

At N8.15 per share, Mrs Awosika dumped N57.939 million on 7,109,104 shares of access bank.

Dr. (Mrs.) Ajoritsedere Josephine Awosika, MFR is an accomplished administrator with over three decades’ experience in public sector governance. She was at various times, the Permanent Secretary in the Federal Ministries of Internal Affairs, Science & Technology and Power. She is a Fellow of the Pharmaceutical Society of Nigeria and the West African Postgraduate College of Pharmacy. She holds a Doctorate degree in Pharmaceutical Technology from the University of Bradford, United Kingdom.

She was appointed to the Board of Access Bank in April 2013 and served as the Vice-Chairman of the Board Audit Committee and Chairman of the Board Credit and Finance Committee.

Dr. Awosika sits on the boards of Capital Express Assurance Ltd and Josephine Consulting Limited.

She became the Chairman of the Board on January 8, 2020 following the retirement of Mrs. Mosun Belo-Olusoga.

Continue Reading

Trending