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  • Q3: FBN Holdings’ profit increase by 141.29%

    October 26, 2017 7:29 PM 33

    FBN Holdings has recorded an impressive result for the third quarter ended Sept. 30, 2017 as its profit increased to N16.07 billion representing 141.29 per cent. The company’s third quarter financial result was released by the Nigerian Stock Exchange (NSE) on Thursday. The result showed that the company’s Profit Before Tax increased by 71.22 per cent to N19.81 billion

  • Nigerian Breweries reports 75% profit decline in Q3 2017

    October 26, 2017 12:40 PM 54

    Earlier this morning, Nigerian Breweries (NB) published its Q3 2017 results which surprised negatively. Sales of N73.7bn grew by 13% y/y while profit before tax (PBT) and profit after tax (PAT) declined by -84% y/y and -75% y/y to N369m and N260m respectively. The y/y sales growth was completely offset by a combination of factors: 1) a -143bp y/y contraction

  • Mobile number porting activities decline by 1,323

    October 26, 2017 11:12 AM 50

    The Nigerian Communications Commission (NCC) on Thursday said that Mobile Number Portability (MNP) activities carried out by telecommunications operators decreased from 34,837 in August to 33,514 in September. The regulatory body made this known in its Incoming and Outgoing Porting Activities of Mobile Network Operators Report posted on its website

  • NSE trading remains upbeat, index increases further by 0.25%

    October 25, 2017 6:02 PM 48

    Lagos – Activities on the Nigerian Stock Exchange (NSE) on Wednesday sustained positive growth with the All-Share Index improved further by 0.25 per cent. The index rose by 91.23 points or 0.25 per cent to close at 36,622.85 compared with 36,531.62 achieved on Tuesday. In the same vein, the market capitalisation which opened at N12.574 trillion inched

  • MTN sluggish despite data growth

    October 25, 2017 4:02 AM 44

    MTN was forced to disconnect more than 5-million subscribers in Nigeria in 2015, "so you need to have those numbers look significantly better". MTN was still "just catching up" and should be reporting revenue growth in the 20% to 30% range, he said. "On a readjusted number, in my opinion, it doesn’t look great," Chakaduka said. MTN is still wrestling

  • N6trn revenue loss: Reps give Shell, others 1 week ultimatum to submit documents on gas flaring penalties

    October 24, 2017 6:01 PM 31

    Other International Oil Companies (IOCs) who were also on the list included ExxonMobil, Agip Oil, Chevron and Total. Recall that the Chairman of the Committee, Hon. Jarigbe Agom Jarigbe (PDP, C/River) last week said that the sum of N6 trillion has been lost to revenue leakages between 2016 and 2017. The committee said the loss was largely due to DPR’s

  • IGP Sends Special Unit After Vandals Of Electricity Installations

    October 24, 2017 4:19 PM 92

    The Inspector General of Police, Mr Ibrahim Idris, has established a specialised crime prevention unit to curb the activities of electricity installation vandals in the country. This was revealed on Tuesday in Abuja by the Commissioner of Police in charge of Crime Prevention and Community Safety, Mr Austin Iwar, who unveiled the unit as the Anti-Electricity

  • Miniwave Soldering Equipment Market with Geographic Segmentation, Statistical Forecast and Competitive Landscape Report to 2022

    October 23, 2017 9:53 PM 37

    Miniwave Soldering Equipment Market Report covers the present scenario and the growth prospects of the Miniwave Soldering Equipment Industry for 2017-2022. Miniwave Soldering Equipment Market report analyses the industry potential for each geographical region based on the growth rate, macroeconomic parameters, consumer buying patterns, market demand

  • Price of garri drops by 60% in Enugu

    October 23, 2017 12:59 PM 29

    Price of garri, a staple in the country, has dropped by more than 60 per cent in Enugu within four months. Newsmen conducted a market survey on the staple on Monday, observed that the price has gone down from as high as N1, 250 to between N450 and N500 per paint bucket. The paint bucket of four-litre is usually the standard measure for cereals in South

  • Dangote Cement Plc – On Track for Strong FY Close; Quarterly Decline Worrying

    October 23, 2017 11:42 AM 35

    Meanwhile, revenue from Pan-African operations grew by 40% to ₦192 billion amidst price increases and a gradual ramp up in volumes over the 9-month period (8% y/y increase to 7 million Mt). Q/q revenue was also modest across the region, up 3% to ₦67 billion despite a 5% q/q fall in Pan-African volumes to 2.3 million Mt. According to management, the strong