UBA Group grows Q1 2018 profit before tax by 4.3% to N26.6bn

Businessam StaffApril 24, 2018

United Bank for Africa Group (UBA) has released its unaudited first quarter results, showing significant growth across major income lines with a profit before tax of 26.6 billion, representing a growth of 4.3 percent over the N25.5 billion recorded in the corresponding period of 2017. The results released Tuesday, April 24, 2018, indicate an impressive […]

GTBank drives efficiency, grows other income by 305%

Businessam StaffApril 19, 2018

GTBank

Guaranty Trust Bank has released its 2018 first quarter results, declaring a profit after tax of N44.7bn. The profit represented a 7.7 percent growth from N41.5 billion recorded in the same period of 2017. Gross earnings grew by 4.6 percent to N108.97bn while income tax expense dropped 10.8 percent to N7.95bn. Net Assets, however, fell […]

Custodian and Allied insurance grows profit by 37%, declares dividend payout of N2.47m

Businessam StaffApril 18, 2018

Custodian and Allied Plc, a leading non-bank financial institution quoted on the Nigerian Stock Exchange (NSE) with investments in life and non-life insurance, pension fund administration, trusteeship and property holding businesses, has announced an impressive audited result for the year ended 31st December 2017. The Group’s profit after tax improved by 37% from N5.3 billion achieved in […]

Lafarge’s before tax loss worsens to N34.0bn

Businessam StaffApril 17, 2018

Lafarge Africa Plc (Lafarge) released its Full Year (FY, 2017) financial statements to the Nigerian Stock Exchange last week and the results showed a 36.2 percent increase in revenue from N219.7 billion in 2016 to N299.2 billion in 2017. However, bottom line showed depressing numbers as FY-17 pre-tax and post-tax losses worsened to N34.0bn and […]

NNPC’s engineering unit reports 34% fall in before-tax profits in FY2017

Businessam StaffApril 13, 2018

Nigerian state oil company NNPC’s engineering unit said Friday its 2017 pretax profit fell 34 percent to N3.26 billion ($10.4 mln) as a result of a lower foreign exchange gain. The National Engineering and Technical Company Limited (NETCO) posted a pretax profit of N4.90 billion in 2016 when foreign exchange gains accounted for 56 percent […]

Nigeria’s state oil company records N250bn trading profit in 2016

Businessam StaffApril 10, 2018

Isiaka Abdulrazak, the group executive director, finance and accounts of the Nigerian National Petroleum Corporation, said the corporation made a trading profit of N250bn in 2016. Abdulrazak said this in a quarterly publication of the NNPC, a copy of which was obtained by the News Agency of Nigeria on Tuesday in Abuja. According to him, […]

Nigeria Diamond Bank announces delay in release of FY2017 results

Businessam StaffApril 4, 2018

Diamond

Diamond Bank Plc., Nigeria tier-2 lender has announced delays in the release of its 2017 full year audited financial statements, saying it was unable to meet the March 31, 2018 deadline as required by The Nigeria Stock Exchange (NSE) rules. In a notification to The Exchange dated March 31, 2018 signed by Uzoma Uja, its […]

May & Baker reports N605.6m in before-tax profits in FY2017

Businessam StaffApril 4, 2018

May & Baker Nigeria Plc., Wednesday released its financial statements for the year ended December 2017, which indicates that the firm recorded a profit before tax (PBT) of N605.6 million, representing an increase over the N345.9 million recorded in the preceding year, 2016. The report shows a growth in revenue from ₦8.47 billion recorded in […]