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Tripple Gee records 41% growth in PAT

By Michael Eboh

….National Salt declares 40 kobo  dividend

Tripple Gee and Company Plc has announced a significant improvement in its bottom line, as its  Profit after tax rose by 41.32 per cent in its 2009 financial year.

According to its audited results for the year ended March 31, 2009, made available to the capital market community, last week, it profit after tax rose from N101.4 million in its 2007 financial year to N143.3 million in the year under review, while its turnover grew by 28.21 per cent, from N775.41 million in 2008 to N1.0 billion in 2009.

The company is proposing to its shareholders in forthcoming annual general meeting scheduled to hold October 8, 2009, a dividend of N0.11 per share.
National Salt Company Plc, also posted an impressive performance in its audited result for the year ended December 31, 2009. It posted a turnover of N7.89 billion, rising by 26.16 per cent from N6.252 billion recorded in 2007, while its profit after tax stood appreciated by 3.1 per cent, from N1.26 billion in 2007 to N1.298 billion.
The company is proposing a dividend of N0.40 per share for its shareholders.

Crusader (Nigeria) Plc announced a 65.66 per cent growth in its gross earnings in its audited result for the year ended, December 31, 2008, rising from N2.169 billion in 2007 to N3.593 billion, its profit after tax and exceptional items, however, dipped by 80.71 per cent, from N1.446 billion in 2007 to N279.6 million in 2008.

The company made a provision of N423 million for doubtful debts in the year under review compared with N352 million in 2007.
To this end, it is recommending a bonus of one ordinary share for every 10 ordinary shares held by its shareholders.

Standard Alliance Insurance Plc in its audited result for the year ended December 31, 2008, recorded a gross premium of N3.01 billion compared with N2.120 billion in 2008, its profit after tax rose by 107.24 per cent from N417 million in 2007 to N864.2 million in 2008.

The company reported a N423.71 million diminution in value of its quoted investments and N85.7 million as provision for doubtful debts. The company is recommending to its shareholders for approval, a dividend of N0.05 per share.

Lasaco Assurance Plc recorded a 31.64 per cent growth in its gross premium, in its December 31, 2008 audited financial results, rising from N1.773 billion in 2007 to N2.334 billion, its profit after tax, however dipped by 33.51 per cent, dropping from N688.2 million in 2007 to 457.6 million in 2008.

It reported a total of N213.6 million as diminution in value of quoted investment and N533.6 as provision for doubtful debts. Despite the dip in its profit after tax, it is proposing a dividend of N0.03 per share to its shareholders.

Universal Insurance Plc recorded a gross premium of N826.2 million in its audited result for the year ended, December 31, 2008, rising by 92.77 per cent from N428.6 million recorded in its 2007 financial year, its profit after tax grew by 60.81 per cent, from N342.84 million in 2007 to N702.03 million in 2008.


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