Analysis: Earnings season… how companies perform

Transnational Corporation of Nigeria plc:

The unaudited results of the company for the half-year (H1) ended June 30, 2014, show revenue of N21.212 billion against the corresponding period of 2013, when it stood at N7.671 billion. Transcorp reported half-year 2014 profit after taxation (PAT) of N6.887 billion against N2.483 billion in the corresponding H1 of 2013.

Sovereign Trust Insurance plc:

The unaudited statement of financial position of Sovereign Trust Insurance plc as of March 31, 2014, shows gross premiums written at N2.933 billion against N2.316 billion in the corresponding period of 2013. The insurance company’s profit after tax (PAT) in the period under review stood at N140.411 million, a huge decline from N259.255 million in the corresponding period of 2013.

Oasis Insurance plc:

Statement of comprehensive income of Oasis Insurance plc for the period ended June 30, 2014, shows gross premium of N998.544 million against N846.146 million in corresponding period of 2013. Also in the review period, Oasis Insurance reported profit after tax of N211.286 million, a remarkable increase from N57.068 million in the corresponding period of 2013.

Chemical and Allied Products plc:

The company’s statement of comprehensive income for the Q2 period ended June 30, 2014, shows revenue of N3.349 billion against the corresponding Q2 2013 period at N2.883 billion. The company reported Q2 profit after taxation of N744.874 million against N618.519 million in Q2 of 2013.

Zenith Bank plc:

Zenith Bank plc’s statement of comprehensive income for the half-year (H1) period ended June 30, 2014, shows its gross earnings rose to N184.434 billion, an increase from N171.024 billion in the corresponding period of June 30, 2013. The bank reported half-year profit after taxation (PAT) of N47.445 billion against N43.826 billion in the corresponding period of 2013.

SCOA Nigeria plc:

The unaudited statement of SCOA Nigeria plc’s comprehensive income for half-year ended June 30, 2014, indicates a revenue of N3.424 billion. The company’s profit after taxation for the period stood at N58.251 million.

Trans-Nationwide Express plc:

Trans-Nationwide Express plc unaudited statement of comprehensive income for the period ended June 30, 2014, shows revenue of N349.115 million, a slight increases when compared with the corresponding period in 2013 at N342.958 million. It reported a profit after taxation of N14.086 million in the same period, a decline from N28.041 million in the corresponding period of 2013.

Tripple Gee & Company plc:

The unaudited statement of comprehensive income of Tripple Gee & Company plc for the first quarter-ended June 30, 2014, indicates a turnover decline to N153.741 million against the corresponding period in 2013, when it stood at N187.233 million. The company reported decline in profit after taxation to N1.398 million, a huge decline from N6.185 million in the corresponding period of 2013.

First Aluminium Nigeria plc:

The company’s unaudited statement of comprehensive income for the period ended June 30, 2014, indicates revenue of N2.352 billion against N2.139 billion in the corresponding period of 2013. Though, the company reported decline in profit after taxation of N15.181 million in the review period of 2014, against N24.339 million in the corresponding 2013 period.

Seplat Petroleum Development Company plc:

Seplat Petroleum Development Company plc, one of the new entrants companies that listed on the Nigerian Stock Exchange, reported half-year (H1) 2014 revenue decline of N60.294 billion against N65.142 billion in the corresponding period of 2013. The company’s unaudited financial statement for the half-year ended June 30, 2014, shows huge decline in profit after taxation to N24.225 billion against N47.100 billion in the corresponding period of June 2013.

Portland Paints & Products plc:

Looking at the unaudited financial statements of Portland Paints and Products plc for the period ended June 30, 2014, the company reported revenue increase to N1.439 billion against N1.354 billion in the corresponding period of 2013. Its profit after taxation in the review period rose remarkably to N125.774 million against the corresponding period of 2013 level at N58.859 million.

Stanbic IBTC Holdings plc:

The consolidated statement of comprehensive income of Stanbic IBTC Holdings plc for the period ended June 30, 2014, shows that the company recorded gross earnings increase of N61.478 billion compared with N54.509 billion in corresponding period of 2013. The HoldCo reported profit after taxation of N15.895 billion, indicating an increase when compared with N10.185 billion in the corresponding period of 2013.

FCMB Group plc:

The statement of comprehensive income of FCMB Group plc for the period ended June 30, 2014, shows its gross earnings rose to N69.620 billion compared with N63.294 billion in the corresponding period of 2013. The company’s profit after taxation rose slightly to N9.576 billion against N9.279 billion in corresponding period of 2013.

Cement Company of Northern Nigeria plc:

Cement Company of Northern Nigeria plc statement of comprehensive income for the six months ended June 30, 2014, indicates that the company’s revenue increased to N9.395 billion as against N8.811 billion in the corresponding period of 2013. The company’s profit after taxation in the review half-year period rose to N1.588 billion against the corresponding period in 2013, when it stood at N832.065 million.

Abbey Mortgage Bank plc:

The statement of comprehensive income for the half-year period ended June 30, 2014, released at the Nigerian Stock Exchange shows that Abbey Mortgage Bank plc recorded a huge decline in gross earnings, which stood at N308.927 million against the corresponding period of 2013 at N800.309 million. The company’s profit after taxation also declined to N15.104 million against N37.660 million in the corresponding 2013 period.

Sterling Bank plc:

The statement of comprehensive income of Sterling Bank plc for the half-year period ended June 30, 2014, shows the bank’s gross earnings at N48.697 billion, indicating an increase when compared with N41.855 billion in corresponding period of 2013. The bank’s profit after taxation in the H1 period dropped to N5.527 billion against corresponding period of 2013, when it stood at N5.922 billion.

Chellarams plc:

The company’s consolidated statement of comprehensive income for the half-year period ended June 30, 2014, shows revenue growth to N7.167 billion against the corresponding period of 2013, at N6.134 billion. It reported H1’14 loss after taxation of N147.053 million as against the corresponding period of 2013, when it reported profit after tax of N313.287 million.

Aluminium Extrusion Industries plc:

Aluminium Extrusion Industries plc statement of comprehensive income for the half-year period ended June 30, 2014, recorded revenue growth to N1.001 billion against N894.916 million in the corresponding period of 2013. The company’s profit after taxation dropped to N24.818 million from a high of N44.378 million in the corresponding period of 2013.

Cadbury Nigeria plc:

Statement of comprehensive income of Cadbury Nigeria plc for the half-year period ended June 30, 2014, shows its revenue dropped to N15.321 billion from a high of N17.431 billion in the corresponding period of 2013. The company’s profit after taxation in the review half-year period also dropped to N1.263 billion against the corresponding period of 2013, when it stood at N2.518 billion.

Union Bank of Nigeria plc:

The consolidated and separate financial statements of Union Bank of Nigeria plc for the half-year period ended June 30, 2014, show that its gross earnings dropped to N49.591 billion against the corresponding period in 2013, when it stood at N56.163 billion. Its profit after taxation dropped to N6.548 billion against N11.360 billion in the corresponding period of 2013.

Iheanyi Nwachukwu