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FRIDAY EKEOBA Nestlé Nigeria Plc has announced draw-down in its operations for the half year period ended June 30 , 2016, as finance costs rose by 361 per cent to impact negatively on profitability. According to the multinational company finance costs rose by 361 per cent to N14.89 billion in half year ended July 30, 2016 from N3.2billion in half year ended July …

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Barring any last minute change in decision, the Association of Nigerian Licensed Customs Agents (ANLCA) has threatened to shut down the nation’s ports over 43 per cent hike in customs duty. President of the association, Alhaji Olayiwola Shittu who made this disclosure on Thursday in Lagos, noted that the association condemned in totality the monetary policy that led to the collapse of the maritime industry. …

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The Federal Government has set up a Presidential Enabling Business Environment Council committee to address bottlenecks affecting smooth operations the Nigerian industrial sector. The Minister of Industry, Trade and Investments, Dr Okechukwu Enalamah, who made this revelation stakeholder in Lagos, said it was part of the Federal Government’s efforts to address issues affecting the economy generally, and industrialists particularly. He said the administration was genuinely …

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By Friday Ekeoba Notwithstanding the hash economic realities’, Dangote Cement Plc, a leading cement manufacturer in the domestic economy has said that the company bottom-line will further experience a positive growth as volume of sales is expected to increase in the second-half of 2016. The company said the financial health of the conglomerate will further receive a boost in the year considering the company’s …

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The Securities and Exchange Commission (SEC) is pleased to notify the investing public that dividend warrants can now be deposited into savings accounts. This follows the directive from the Central Bank of Nigeria (CBN) via Circular referenced BPS/DIR/GEN/CIR/03/005 dated 28th July, 2016 instructing banks to allow customers with BVN to deposit cheques into their savings account. As part of several …

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  Oando posts N212 bn top line revenue FRIDAY EKEOBA Oando Plc has announced unaudited results for the six months period ended 30 June, 2016. The company’s turnover increased by 18 percent to N212 billion, compared to N180 billion in H1 2015, while Gross Profit decreased by 49 per cent, N19 billion compared to N37.1 billion in H1 2015. Along …

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  Diamond Bank suffers 26% drop in PBT Friday Ekeoba   With bank’s borrowing hiting N164 billion in six months and share price felling by 4.2 per cent to N1.6, Diamond Bank Plc has announced its half year (H1 2016) performance showcasing weaker growth in key financial parameters that include profit before tax that dropped by 26 per cent. Similarly, …

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MTN targets 2017 date for listing on the exchange …Citigroup, Standard Bank as listing advisers Barring any last minute change in decision, leading mobile telecommunications company, MTN have concluded plans to list its share on the Nigerian Stock Exchange (NSE) in 2017. The company said it is taking some concrete steps towards having the company quoted on the local bourse, …

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Dangote Sugar Refinery has announced a profit before tax (PBT) of N11.1 billion for the six months ended 30 June, 2016. The unaudited results for the half year indicated that all performance measurement indices trended upwards. According to the results, profit before tax rose by 13.3 percent compared to N9.8 billion in the same period in 2015. The sugar group …

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The Lagos Chamber of Commerce and Industry (LCCI), the premier Chamber of Commerce and a leading voice in the organised private sector (OPS) in Nigeria has concluded arrangements to assign current participants of its mentoring program to their respective mentors for practical mentoring session. The Mentor-Mentee Matching ceremony, according to LCCI is scheduled to hold on Friday, 5th August, 2016 …

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