Guinness Nigeria gains N23.4bn amid production hike
Onome Amuge
July 31, 2023
By Onome Amuge. Despite facing severe macro-economic challenges such as rising inflation, currency devaluation, temporary cash scarcity and insecurity, Guinness Nigeria Plc, delivered an 11 per cent increase in its topline revenue and an operating profit of N23.4 billion in its full year period ended 30th June 2023. The results which were released to the […]
Transcorp Plc grows revenue 31% to N82.1bn in H1 2023
Onome AmugeJuly 31, 2023
By Onome Amuge. Transnational Corporation Plc posted a strong financial performance across all its major indices in the first half of the year ended June 30, 2023, as total revenue hit N82.1 billion in H1 2023, compared to N62.9 billion in H1 2022, marking a substantial 31 per cent growth year-on-year. The conglomerate with considerable […]
Naira devaluation,foreign exchange loss trims Airtel’s profit after tax to $151m
Onome AmugeJuly 31, 2023
By Onome Amuge. Airtel Africa posted a 20.4 per cent revenue growth to $1.4 billion in the first-quarter of 2023, but profits were rocked by a foreign exchange loss marked by the devaluation of the Nigerian naira by the Nigerian government in June which plunged its profit after tax to $151 million against $178 million […]
Dangote Cement appoints Alvaro Poncioni Mérian as non-executive director
Cynthia EzekweJuly 31, 2023
By Cynthia Ezekwe. Dangote Cement Plc (DCP) has appointed Alvaro Poncioni Mérian as independent non-executive director of its board, effective August 1, 2023. DCP disclosed this in an official statement signed by Edward Imoedemhe, its acting company secretary. “This is to inform the Nigerian Exchange Limited (NGX) and all other stakeholders that the Board of […]
Unilever Nigeria grows turnover 24% to 54.2bn in H1 2023
Cynthia EzekweJuly 26, 2023
By Cynthia Ezekwe. Unilever Nigeria Plc, recorded a turnover of N54.2 billion in the first half of 2023, representing 24 per cent topline growth compared to N43.8 billion turnover in the corresponding period in 2022 The publicly listed company with trading and manufacturing interest in the consumer goods market, disclosed this in its unaudited interim […]
Nigeria’s pension assets to increase by N19trn in 2024, says Agusto
Cynthia EzekweJuly 26, 2023
By Cynthia Ezekwe. Agusto & Co, a pan-African credit rating agency and a leading provider of industry research and knowledge in Nigeria & sub-Saharan Africa has projected that Nigeria’s total pension assets will rise to N19 trillion by the end of 2024. The rating agency disclosed this in its recent report tagged “The Nigerian Pension […]
IMG raises shareholders dividend to N208.1m amid strong financial performance
Isaac JayeolaJuly 25, 2023
Industrial and Medical Gases Nigeria PLC (IMG) has rewarded shareholders with a cash dividend of N208.1 million for 2022 financial year, which translates to 40 kobo per ordinary share as against a stock dividend of one for every five shares held in 2021. The frontline manufacturer of industrial and medical gases said the move is […]
Build new refineries to stem rising prices, former FUTO VC advises President Tinubu
Saby ElembaJuly 25, 2023
Saby Elemba in Owerri President Bola Tinubu of Nigeria has been urged to build new refineries to stem rising prices of goods and services in the country. Jude Njoku, a professor of agricultural economics and former vice chancellor, Federal University of Technology Owerri (FUTO), lamented the tremendous rise in the prices of goods in the […]
CBN, NMDPRA, NUPRC, Zenith, NSPMC execs glean leadership insights at TEXEM programme
Onome AmugeJuly 24, 2023
United Kingdom based international learning platform for executives and organisations, TEXEM, brought its customised executive development programme, “Winning in Turbulent Times” to Lagos, Nigeria penultimate week and attracted executives from across leading Nigerian private and public sector organisations for a successful two day outing. The customised executive development programme attracted executives from Central Bank of […]
Tinubu approves infrastructure support funds for states to cushion effects of subsidy removal
Isaac JayeolaJuly 21, 2023
President Bola Tinubu has approved the establishment of Infrastructure Support Fund (ISF) for the 36 States of the federation as part of intervention measures to cushion the effects of the petrol subsidy removal on the people. The approval was disclosed at the just concluded monthly meeting of the Federation Account Allocation Committee (FAAC), in Abuja. […]