• Monday, December 04, 2023
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Companies’ improved FY’12 results find way into Stock Exchange


With the expectation of more results this week, many audited full year 2012 financials of quoted companies have found their way into the Nigerian Stock Exchange (NSE) for shareholders to assimilate the contents.

Majority of these ‘early-bird’ companies’ financials show improved performance for the year ended December 31, 2012, evidenced in their profit margins, revenue base and net asset level.

For instance, the Cement Company of Northern Nigeria plc recorded revenue of N15.126billion, against N13.915billion in the year ended 2011; while profit after tax stood at N1.196billion, against N2.304billion in 2011. The company’s net assets in 2012 rose to N7.639billion against 2011 level at N7.008billion.

Also, Cadbury Nigeria plc reported revenue of N33.551billion against N34.111billion in 2011. The company’s profit after tax in 2012 dropped to N3.455billion from N3.671billion in 2011. Net Assets stood at N20.039billion against 2011 level at N16.589billion. Cadbury proposed dividend of 50 kobo per share for its shareholders.

The audited results for Forte Oil plc showed a turnover/revenue of N90.984billion against N116.100billion. The company’s profit for the year 2012 stood at N1.008billion against a loss level of N19.536billion in 2011. Net assets rose to N7.583billion against 2011 level at N5.889billion.

Ecobank Transnational Incorporated reported gross earnings of N362.142billion against N235.969billion in 2011. Its Profit after Tax in 2012 rose to N45.486billion against 2011 level at N32.267billion. Ecobank net assets stood at N339.921billion compared with N233.389billion in 2011. The bank proposed dividend of 0.4 cents for its shareholders.

Lafarge Cement Wapco Nigeria plc reported a revenue rise to N87.965billion from 2011 level of N62.502billion. Lafarge profit after tax in 2012 rose to N14.712billion against N8.639billion in 2011. Its net assets in 2012 rose to N68.359billion compared with N56.094billion in 2011. The company has proposed dividend of N1.20 kobo per share payable to its shareholders.

Also, Julius Berger Nigeria plc reported a revenue rise to N201.565billion against the 2011 level of N169.413billion. Profit after tax in 2012 stood at N8.013billion against N4.412billion in 2011. The construction giant’s net assets in 2012 rose to N15.144billion in 2012 against 2011 level at N9.746billion. Julius Berger Nigeria has proposed dividend of N2.50 kobo payable to its shareholders.

In addition, Courteville Business Solutions plc in its audited accounts for the year ended December 31, 2012 reported revenue rose to N1.061billion against N855.601million in 2011. The company’s profit after Tax for the year 2012 rose to N298.322million against 2011 level at N245.352million; while net assets in 2012 stood at N2.817billion against 2011 level at N2.654billion.