profit

Strong Profits Lead 21 NGX Companies to Pay Record N1.56 Trillion in Taxes in Q3 Detailed Breakdown: 1. Record Tax Payments Amid Strong Profit Growth • In the first nine months of 2024, 21 leading companies listed on the Nigerian Exchange Limited (NGX) paid a remarkable N1.56 trillion...

Nigerian Banks See Record Profits in High-Interest Environment, Reporting N4.2 Trillion Surge in Earnings Summary of the Article: Ten Nigerian Deposit Money Banks have reported a dramatic increase in profit, collectively earning N4.2 trillion in the first nine months of 2024, reflecting a...

MTN Nigeria Rebounds to Profit with N4 Billion in Q3 Amid Economic Challenges Detailed Breakdown: Return to Profit After Three Quarters of Loss MTN Nigeria Communications Plc has reported a return to profitability in the third quarter of 2024, achieving a profit after tax of N4.13 billion...

AFRICA PRUDENTIAL PLC DECLARES N791M PROFIT Africa Prudential Plc has reported a profit after tax of N791 million for the first six months of 2024. This information was shared by Taofiq Giwa, the Chief Finance Officer of the company, during a webinar titled "Africa Prudential Half-Year Investor...

BANK'S ASSETS RISE TO N121.8TN — ENTERPRISENGR Growth in Banking Sector Assets: - The total assets in Nigeria’s banking sub-sector within the Financial & Professional Services (FPS) Sector increased significantly by 56.14%, reaching a value of ₦121.8 trillion. This growth is a clear indicator...

AFREXIMBANK REVENUE HITS $1.47BN Summary: - Afreximbank's Gross Income: - The pan-African financial institution, African Export-Import Bank (Afreximbank), reported a gross income of $1.47 billion for the first half of 2024. This is a significant increase from $1.12 billion at the end of...

NEIMETH REPORTS 144% PROFIT SURGE IN H1 2024 SUMMARY: Neimeth International Pharmaceuticals Plc has reported a significant increase in its post-tax profit for the first half of 2024, reaching N198.2 million—a 144% rise from the previous year. This growth is attributed to improved production...

ECOBANK TRANSNATIONAL INCORPORATED (ETI) HALF-YEAR EARNINGS REPORT Earnings Overview: - Half-Year Earnings: N311 billion, up 196% from N105 billion in H1 2023. - Interest Income: Increased by 175% to N1.2 trillion from N445 billion in the previous year. - Interest Expense: Rose by 160% to N464...

NEM Insurance has achieved a significant financial milestone, recording a 249% increase in its profit before tax for 2023, rising from N5.5 billion in 2022 to N19.2 billion. This surge reflects the company's robust financial health and effective business strategies, despite a challenging...

Key Takeaways: - Profit Projection: PZ Cussons anticipates its 2024 full-year profit to range between £55 and £60 million, despite a 23% depreciation in the value of the Nigerian naira. - Revenue Estimate: The company projects revenue to reach approximately £528 million for the fiscal year...

The Asset Management Corporation of Nigeria (AMCON) reported a remarkable 212% increase in profit for 2023, rising to N108.43 billion from N34.73 billion in the previous year. This substantial growth occurred despite challenging macroeconomic conditions, as noted in a statement by AMCON's Head...

OKOMU OIL PALM PLC PROJECTS REVENUE TO DECLINE BY 34.9% IN Q3 2024 Okomu Oil Palm Plc has forecasted a 34.9% drop in revenue for Q3 2024 compared to the same period in 2023. The company's projected turnover for Q3 2024 is N13.047 billion, down from N20.047 billion in Q3 2023, where it recorded...

FBN HOLDINGS REVENUE SURGES BY 181% - FBN Holdings' gross earnings increased by 181.4% to N730.3 billion in the first quarter of 2024, compared to N259.5 billion in the same period last year. - The growth in revenue was driven by a 153.3% rise in interest income, reaching N455 billion in Q1...

VFD GROUP REPORTED N2.62bn PROFIT IN Q1 Proprietary investment company, VFD Group Plc, has reported N2.62 billion as profit after tax for the first quarter of 2024. This was revealed in its Q1 unaudited financial results filed with the Nigerian Exchange Limited. During the period under review...

TAJBANK GROWS PRE-TAX PROFIT TO N11BN The profit before tax of TAJBank, one of the non-interest banks in Nigeria, grew by 122 per cent to N11.3bn in 2023. In the non-interest banking segment of the financial sector, that was the highest PBT recorded so far for 2023. TAJBank’s gross earnings...

TRANSCORP HOTELS PLC RISES BY 1048% IN 12-MONTH Transcorp Hotels Plc, a major player in the hospitality sector, has seen significant capital appreciation over the last 12 months despite recent unfavorable investor sentiment. The company’s stock increased by more than 1048% over the past year...

TAJBank grows pre-tax profit to N11bn The profit before tax of TAJBank, one of the non-interest banks in Nigeria, grew by 122 per cent to N11.3bn in 2023. In the non-interest banking segment of the financial sector, that was the highest PBT recorded so far for 2023. TAJBank’s gross earnings...

ABBEY MORTGAGE BANK GROWS PROFIT BY 15% Abbey Mortgage Bank’s pre-tax profit rose by 15 per cent year-over-year to N951m in 2023, from N827m in the prior period. This was stated in a release by the bank ahead of its 32nd annual general meeting, scheduled for May 30. The AGM will highlight the...