Market Report: FBN Holdings, Nestle, GSK post Q1 results

FBN Holdings Q1 pretax falls 21 percent to N24.77 billion

First Bank Holdings said on Wednesday its first-quarter pretax profit fell 21 percent to N24.77 billion ($154.28 million) from 31.41 billion a year earlier.

Gross earnings rose to N81.47 billion from 76.57 billion, the bank said in a filing with the Nigerian Stock Exchange.

Nestle Nigeria posts Q1 pretax profit of N7.07 bn 

The Nigerian unit of Nestle on Wednesday posted a first-quarter pretax profit of N7.07 billion ($44.04 million), little changed from 7.05 billion a year earlier.

Revenue of 33.42 billion was up from 30.69 billion.

GSK Nigerian unit Q1 pretax profit up to N892.13 million 

GSK’s Nigerian unit on Wednesday posted a first-quarter pretax profit of N892.13 million ($5.56 million), up 3.06 percent from 864.83 million a year earlier.

Revenue rose to N7.80 billion from 6.92 billion, the pharmaceutical and healthcare company.