Japaul Gold and Ventures Plc announced a plunge in profit after tax from N40.917 billion in the 2019 financial year to -N1.182 in the 2020 financial year.
In the company’s audited financial statements released on Tuesday, revenue stood at N689.643 million in the period under review, down from N725.472 million recorded in the corresponding period of 2019.
Gross loss moderated from N943.394 million in 2019 to N318.089 million in 2020, while operating profit nosedive from N42.237 billion in 2019 to -N826.437 million in 2020.
Net finance costs also plunged to -N3.249 million in 2020, down from N1.208 billion in 2019.
Profit before tax stood at -N829.686 million in the period under review from N41.029 billion posted in 2019.
Loan/profit from continuing operations declined from N40.917 billion in 2019 to -N996.745 million in 2020.
The company posted a N185.104 million loss from discontinued operations net of tax.
Japaul Gold and Ventures Plc, formerly known as Japaul Oil and Maritime Services Plc, announced in November it had received approval in principle from H&H Mines Limited to invest in the company once it concludes its proposed fundraising in 2021.
The company’s shares rose over 200 percent following the news before Investors King, in numerous articles, highlighted the possibility of the deal not materialising as expected given COVID-19 and Japaul Gold’s ability to raise funds needed to complete the deal.
Since the deal was announced, the company has been unable to raise the required funds to complete the deal as expected, hence the reason the price of Japaul Gold and Venture shares plunged.
Stanbic IBTC Holdings to Release Audited 2021 Half Results in August 2021
Stanbic IBTC Holdings Plc, one of the leading banks in Nigeria, on Wednesday announced its Board of Directors has decided to audit the Half Year Financial Results of the bank.
The bank announced in a statement signed by Chidi Okezie, Company Secretary.
According to the bank, the Audited Results for the Half Year Ended 30 June 2021 will be released not later than 29, August 2021 after the Central Bank of Nigeria has approved it.
The statement reads, “Having duly notified NGX RegCo of this development, the Management of Stanbic IBTC wishes to notify the investing public that the Company will aim to publish its 2021 Audited Half Year Results on or before 29 August 2021 in accordance with the extant Rules of NGX Regulation Limited as cited above.
“Thank you for your understanding. For any enquiry, please contact Chidi Okezie, Group Company Secretary – Email: email@example.com or Idris Toriola, Head Investor Relations – Email: firstname.lastname@example.org; Tel +234 422 8501”
Equities Market Closes in Red on Monday
The Nigerian Exchange Limited extended its bearish trend on Monday as several unclear economic policies continue to dictate market sentiment.
Investors traded 209,212,596 shares estimated at N1.763 billion during the trading hours of Monday.
Market value of listed equities dipped to N20.089 trillion on Monday, while the Nigerian Exchange Limited All-Share Index lost 0.27 percent 38545.30 index points.
Meyer Plc led gainers with 8.77 percent to close at N0.57 a share. This was followed by Champion Brew. Plc with 6.06 percent. See the details below.
|MEYER||N 0.57||N 0.62||0.05||8.77 %|
|CHAMPION||N 1.98||N 2.10||0.12||6.06 %|
|JBERGER||N 19.10||N 20.00||0.90||4.71 %|
|REGALINS||N 0.50||N 0.52||0.02||4.00 %|
|IKEJAHOTEL||N 0.94||N 0.97||0.03||3.19 %|
|FIDSON||N 5.10||N 4.60||-0.50||-9.80 %|
|LASACO||N 1.50||N 1.36||-0.14||-9.33 %|
|FTNCOCOA||N 0.33||N 0.30||-0.03||-9.09 %|
|MBENEFIT||N 0.45||N 0.41||-0.04||-8.89 %|
|CORNERST||N 0.58||N 0.55||-0.03||-5.17 %|
Presco Plc to Hold Emergency Meeting to Recommend Acquisition of Private Company to Shareholders
Presco Plc, an agro-industrial company, has notified shareholders of the company, the Nigerian Exchange Group and the investing public that the Board of Directors of Presco Plc will hold an emergency meeting on Thursday 24th June, 2021 to recommend for the shareholders to consider the acquisition of an existing private company through shares.
The existing private company, according to a statement signed by Patrick Uwadua Esq., Company Secretary, Presco Plc, is in the same line of business with Presco Plc.
Presco said once considered, a resolution will be passed at the company’s next General Meeting to authorise the acquisition of all the shares of the existing private company.
Meanwhile, the company commenced its closed period on today, Wednesday 16 June 2021 until 24 hours after the decisions taken at the Board Meeting are released to the public.
Nokia Launches Next-generation AirScale 5G Portfolio Powered by ReefShark Technology
African Private Equity, Venture Capital Association (AVCA) and APO Group to Drive Trade and Investments Across Africa
NCDMB and NEXIM Sign $30 Million Agreement to Support Oil and Gas Services Firms
Cryptocurrency4 weeks ago
Can cryptocurrency survive regulators? Here’s what Ripple CEO says about XRP’s future
Sport Business1 week ago
Cristiano Ronaldo Snubs Coca-Cola Drink in Euro 2020 Press Conference, Wipes $4B Off Market Value
Cryptocurrency4 weeks ago
BankDhofar Launches Mobile Banking Payments from Oman to India with RippleNet
Government3 weeks ago
Buhari Talks Tough; Threatens IPOB, Others
Cryptocurrency2 weeks ago
Wei Zhou, Binance’s Chief Financial Officer Resigns
Cryptocurrency4 weeks ago
US SEC To Work With Congress To Regulate Crypto Exchanges
Education3 weeks ago
Senate Passes Bill To End HND/BSc Discrimination
Fintech4 weeks ago
kuda Bank USSD Code for Money Transfer, Bill Payment, Deposit