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Honeywell records 307% increase in third quarter profit

By Michael Eboh
Honeywell Flour Mills Plc has recorded significant improvement in its bottom lines for the third quarter ended, December 31, 2010, financial statements, announcing a 307 per cent growth in it profit after tax to N870.5 million.

According to the results released to the Nigerian Stock Exchange (NSE) last week, the companies turnover also rose by 24.35 per cent to N26.188 billion from N21.060 billion recorded in the comparable period of 2009, its profit after rose from N213.9 million in 2008 to N870.5 million.

Tough times await investors of John Holt Plc, as information coming from the company indicate that its investors would have to wait a bit longer to enjoy the returns of their investment.

The company which last declared dividends in the year 2005, recorded a loss after tax of N93 million in its third quarter ended, June 30, 2009 financial results compared with a profit after tax of N705 million recorded in similar period in 2008.

Its turnover dipped by 16.02 per cent to N14.113 billion from N16.808 billion recorded in 2009.
Lafarge Cement WAPCO Plc has announced a disappointing N0.10 per share dividend for its shareholders in its 2009 financial year.

The frontline cement manufacturer, according to a notice on its audit results for the year ended, December 31, 2009, the dividend which is subject to the approval of its shareholders at its forthcoming annual general meeting, is expected to be paid out, May 26, 2010 while the register for members would be closed May 17, 2010.

Abbey Building Society Plc also announced a dividend of N0.04 per share for its shareholders, in its audited result for the year ended, October 31, 2009.

University Press Plc in its audited result for the year ended, December 31, 2009, announced a 45.86 per cent growth in its profit after tax to N307.33 million from N210.7 million recorded in the comparable period of 2008.
Its turnover stood at N1.616 billion, appreciating by 34.22 per cent from N1.204 billion recorded in 2008.


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