By Michael Eboh  & Providence Obuh
Airline Services and Logistics (ASL) Plc and Guaranty Trust Assurance Plc has announced dividends of 10 kobo and four kobo respectively, for their shareholders in the 2009 financial results.

ASL, according to its audited financial statement for the ended, December 31, 2010, recorded significant improvement in its top and bottom lines, with a turnover of N3.94 billion, representing a 9.47 per cent growth from N3.6 billion recorded in 2008.

Its profit before tax grew by 133.8 per cent to N498.66 million from N213.29 million in 2008, while its profit after tax appreciated by 63.34 per cent to N181.15 million compared with N110.91 million recorded in 2008.

In its December 31, 2009 financial statement, Guaranty Trust Assurance Plc recorded a 29.79 per cent growth in its gross earnings to N5.38 billion from N4.14 billion recorded in 2008, its profit before tax stood at N1.31 billion compared to N2.0 billion recorded in 2008, while its profit after tax slumped by 72.46 per cent to N516.59 million compared to N1.88 billion recorded in 2008.

Secure Electronic Technology Plc, formerly, National Sports Lottery, recorded significant decline in its top and bottom lines in its year end, December 31, 2009, financial statement, with a gross income of N1.9 billion, representing a depreciation of 17.34 per cent from N2.29 billion recorded in 2008, its profit before tax dipped by 93.2 per cent to N45.22 million from N664.66 million recorded in 2008, while its profit after tax dropped by 98.28 per cent to N10.84 million compared to N631.61 million recorded in 2008.

Meanwhile, a slight decline was recorded in trading on the Nigerian Stock Exchange (NSE), Wednesday, as the value of listed equities dropped marginally by N3.11 billion.

Specifically the market capitalisation and the All share index both dropped by 0.05 per cent each. The capitalisation closed at N6.667 trillion from N6.670 at which it opened, while the index shed 12.78 bases point to close at 27,424.47 points from 27.437.25 points at which it opened.

The dip was brought about by decline in the share prices of major blue chip companies, led by Oando Plc, dropping by N4.50 to close at N124.00 per share, followed by Guinness Nigeria Plc, sliding by N3.99 to close at N156.01 per share and Cadbury Nigeria Plc dipped by N1.51 to close at N30.80 per share.

On the contrary, Nestle Nigeria Plc recorded the highest share price gain, rising by N16.00 to close at N341.00 per share, Total Oil Nigeria Plc followed with a gain of N6.00 to close at N242.00 per share and Capital Oil Plc garnered N1.55 to close at N32.70 per share.

Other share price gainers include: Okomu Oil Palm Plc N0.70, Nigeria Aviation Handling Company Plc N0.61, Nigeria Breweries Plc N0.50, Berger Paint Plc N0.40, Glaxo SmithKline Consumer Plc N0.38, Stanbic IBTC Bank Plc N0.28, International Breweries Plc N0.24, among others.

Equities trading dropped by 38.75 per cent, as a turnover of 369.03 million shares valued at N4.29 billion in 13,197 deals, as against the previous day’s turnover of 602.48 million shares valued at N5.53 billion in 8,784 deals.

Banking stocks recorded the highest patronage in the sectorial analysis, accounting for 162.66 million shares valued at N1.503 billion in 3,652 deals.

First City Monument Bank dominated activities in the sub-sector trading 24.94 million shares valued at N215.32 million in 82 deals, First Bank of Nigeria Plc followed with the exchange of 23.99 million shares valued at N360.70 million in 801 deals and United Bank for Africa Plc recorded 20.22 million shares valued at N260.94 million in 273 deals.

The Insurance sub-sector trailed behind the Banking sub-sector accounting for 9.81 per cent of the market turnover as 36.20 million shares valued at N47.57 million was recorded in 510 deals.

Guaranty Trust Assurance Plc emerged as the most active in the sub-sector trading 6.19 million shares valued at N15.46 million in 49 deals, AIICO Insurance Plc followed with the exchange of 5.54 million shares valued at N7.48 million in 112 deals and Continental Reinsurance Plc recorded 4.58 million shares valued at N5.81 million in 14 deals.

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