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Saturday, September 19, 2020

Conoil reports 67% Profit Drop in Half year 2020 : Key Highlights

Nigeria’s top oil petroleum marketing company, Conoil Plc, recorded a 67% per cent decline in both profit after tax and profit before tax in the first six months of 2020, closing at N339 million and N498 million respectively as at the end of business...

Exxon Mobil, Chevron report losses on weak oil prices

Exxon Mobil and Chevron suffered losses in the latest quarter as the weakened economic outlook due to the coronavirus pandemic pressures the industry to double down on cost cuts. Exxon Mobil on Friday reported a loss of $1.1 billion in the second quarter, saying it...

Uber reports 29% drop in revenue but delivery bookings double

By Lora Kolodny KEY POINTS Uber reported second quarter results including revenue that beat analysts’ expectations but declined by 29% to $2.18 billion from $3.17 billion during the same period last year. According to analysts estimates compiled by Refinitiv, Wall Street expected losses of 86 cents per...

May & Baker records N438.9m profit after tax in 6 months

By Chinyere Joel-Nwokeoma Lagos, Aug. 6, 2020 May & Baker Nigeria Plc. on Thursday, reported a profit after tax of N438.9 million for the six months ended June 30, 2020. The company stated this in its half year result, published by the Nigerian Stock Exchange...

FCMB Group Profits jump 29% y/y amid strong earnings growth

Half-year profits soar despite economic woes FCMB recently released its H1’20 results, reporting a 9% y/y growth in Gross Earnings to ₦98.2 billion, 3% ahead of our estimate. This was mainly due to an 8% y/y growth in Interest Income to ₦76.1 billion driven by...

Flour Mills of Nigeria Plc Reports 184% Growth In After-Tax Profit

Nigeria’s biggest Miller, Flour Mills of Nigeria Plc (referred to as “Flour Mills “or “FMN”), Nigeria’s leading integrated food business and agro-allied Group, today announced its audited 2019/20 financial results, showing remarkable growths in all three key segments of Food, Agro-Allied and Sugar. The Group’s...

Caverton reports Half-year Revenue Drops by 5% to N16.1bn

Caverton Offshore Support Group Plc, (COSG) has announced its unaudited first half year results for 2020. The results showed that the company’s revenue dipped by five per cent to N16.1 billion, compared with the N16.9 billion recorded in June 2019. Its operating profit, (excluding other income)...

Unity Bank gross earnings hit N22.87bn in 2020 H1

By Itohan Abara-Laserian Lagos, July 29, 2020 Unity Bank Plc has declared gross earnings of N22.87 billion for the half year ended June 30, 2020. Mrs Tomi Somefun, Managing Director and Chief Executive Officer, stated this in the bank’s unaudited financials submitted to the Nigerian...

Here’s fact sheet of PepsiCo’s 3% revenue dip amid pandemic hurt on beverage sales but boosts snacks business

PepsiCo’s net sales fell 3.1% during the second quarter. Excluding items, the company earned $1.32 per share. Pepsi reported falling organic sales for its North American beverage unit, but Frito-Lay and Quaker Oats saw organic revenue growth. PepsiCo on Monday reported that its quarterly revenue fell as...

This Nigeria’s First Islamic Bank Announces PBT of N636.7m in Q1

Nigeria's first Islamic lender Jaiz Bank Plc, has announced a Profit Before Tax (PBT) of N636. 7 million for the first quarter (Q1) 2020. This represented a growth of 33.63 per cent compared to the N476.5 million recorded in the corresponding period of 2019. Excerpts from...
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