UACN, Oando, Ecobank, others
earn N11.5bn profit
By KELECHI MGBOJI
Thursday, April 24, 2008
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Photo:
Sun News Publishing |
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The audited results of eight companies including Oando Plc,
UACN Property Development Company and Trasnational Incorporated
which were presented to the Nigerian Stock Exchange (NSE)
last week showed a total profit of N11.5 billion. Others were
BOC Gases PLC, Custodian and Allied Insurance Plc, Airline
Seervices and Logistics Plc, Trans-Nationwide Express Plc
and Ellah Lakes Plc.
Audited result of Oando Plc for the year ended December 31,
2007 showed a turn-over of N185.9bn as against N209.1bn in
2006. Profit after tax (PAT) stood at N4.75 billion compared
with N3.8bn in the corresponding year.
The directors are recommending N6.00 per share and bonus of
1 for 5. The date of closure of register of members is May
12 while payment date would be announced later by management.
For UACN, its audited result for the year ended December 31,
2007 showed turn-over of N5.7bn as against N5.5bn in 2006.
Profit after tax and minority interest stood at N1.1bn compared
with N966.11million in 2006.
The directors are recommending a dividend of N15.46 per share.
The date of closure of register of members was fixed for April
22 while payment is expected to follow in
May just as the annual general meeting (AGM) of shareholders
holds the same period at Novotel Hotel Festac Lagos.
Unaudited result for Ecobank Transnationl Incorporated in
the first quarter ended March 31, 2008 showed gross earnings
of N28.5bn as against N17.5bn in the comparable period of
2007. Profit after tax stood at N4.35 billion compared with
N3.2 billion in 2007.
The bank, had recently presented its audited result for the
period ended December 2007 in which the top and bottom lines
recorded tremendous improvement by over 50 per cent and profit
margin went up by 19.93 per cent.
The bank’s earning grew by 74 per cent. Consequently,
the directors recommended a total of N4.00 dividend.
Airline Services and Logistics audited result for the year
ended December 31, 2007 showed a turn over of N3.5 bn as against
N1.85bn during the 9 months ended December 31, 2006. Profit
after tax stood at N322.8 million compared with N179.24 million
during comparable period in 2006.
The directors are recommending a final dividend of 5 kobo
per share. Date of closure of register of members is fixe
for May 2 while payment of date is June. The stock price had
on August 27, 2007 been adjusted for an interim dividend of
5 kobo per share thus bring the total divided to 10 kobo per
share. The annual general meeting shareholders is scheduled
to hold at Gateway Hotel Abeokutå, Ogun State in May.
Started in December 1996, ASL has grown phenominally, from
a company with a turnover of N45 million in the first year
to N3.5bn turn-over annually.
With First Catering, Zurich as foreign technical partner,
the company is now a trusted name in aviation matters. The
company went PLC on July 25, 2007.
Trans-Nationwide Express audited result for the year ended
December 31, 2007 showed a turnover of N383.3 million as against
N278.6 million in 2006. Profit after tax stood at N45.71 million
compared with N28.6 million in 2006. The directors are recommending
a divided of 10 kobo per share and the dates of closure of
register of members and payment would be announced later by
the management.
Listed on the exchange on Sept 14, 1993, TNE has consistently
improved on its turn over and profit after tax.
For Custodian and Allied Insurance audited result for the
year ended December 31, 2007 showed gross premium of N2.71
billion as against N1.61 billion in 2006. Profit after tax
stood at N916.95 million compared with N562.14 million in
2006. This result shows that premium increased by 68.78 per
cent just as profit before tax went up by 68.42 per cent.
The stock is expected to experience price rally as investors
are likely to hoard shares so as to enjoy more dividends.
Meanwhile,the directors are recommending a dividend of 12
kobo per share. The date of register of members is May 6 while
payment date is May 22. The 13th annual general meeting (AGM)
of shareholders is scheduled to hold end of April
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