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Juli posts N9mn first quarter loss

By Michael Eboh & Providence Obuh
Respite seems out of sight for investors of Juli Plc as the company’s woes continued, following its unimpressive performance in its first quarter ended, March 31, 2010 financial statement, with a loss after tax of N8.61 million, representing an increase of N3.35 million from a loss of N5.26 million recorded in the comparable period of 2009.

According to the result released to the Nigerian Stock Exchange (NSE), Tuesday, its turnover dipped by  16.16 per cent to N60.61 million compared with a turnover of N72..29 million recorded in 2009, while it posted a loss before tax of N8.61 million compared with N5.23 million in 2009.

BOC Gases Plc has announced a dividend of N0.30 per share for its shareholders in its 2009 financial statement.
According to its audited financial report for the year ended, December 31, 2009, the dividend which is subject to the approval of shareholders in its forthcoming annual general meeting scheduled for June 23, 2010, is based on a profit after tax of N249.48 million, representing an appreciation of 12.65 per cent from N221.46 million recorded in 2008.

It recorded a turnover of N2.22 billion, rising by 18.81 per cent from N1.871 billion recorded in 2008, while its profit before tax stood at N429.79 million compared to N317.75 million recorded in 2008.

Meanwhile, trading resumes on a bullish note, Tuesday, as the value of listed equities on the Nigerian Stock Exchange (NSE) appreciated by N92.84 billion.

In particular, the value of listed equities, represented by the market capitalisation, rose by 1.45 per cent to close the day’s trading at N6.491 trillion from N6.398 trillion at which it opened.

The All-share index, another major market indices, also rose by 1.45 per cent, as it garnered 383.83 basis points to close at 26,837.03 points.

UAC Nigeria Plc led 66 other stocks on the price gainers’ table, with a gain of N2.51 to close at N52.82 per share, Cadbury Nigeria Plc followed with a gain of N1.18 to close at N24.79 per share and UAC Property Development Company Plc garnered N1.18 to close at N24.91 per share.

On the other hand, Conoil Plc recorded the most share price loss, dropping by N2.80 to close at N53.33 per share, Flour Mills Nigeria Plc followed with a loss of N2.79 to close at N71.20 per share and Nigerian Enamelware Company Plc dipped by N2.38 to close at 45.32 per share.

Meanwhile equities trading appreciated by 2.44 percent of the market turnover, with 500.30 million shares valued at N3.913 billion in 6,668 deals.

The Banking sub-sector stock was the most sort for in the sectorial analysis accounting for 44.1 percent of the market turnover with 220.65 million shares valued N2.508 billion in 2,900 deals .

Zenith Bank Plc emerged most active in the sector trading 85.65 million shares valued at N1.321 billion in 377 deals, followed by United Bank for Africa Plc with the exchange of 24.04 million shares valued at N296.95 million in 207 deals and GTBank Plc with the exchange of 18.84 million shares valued at N347.98 million in 510 deals.

The Insurance sub-sector recorded 30.72 percent of the market turnover with 153.68 million shares valued at N116.58 million in 508 deals.

Equity Assurance Plc recorded the highest patronage in the sector trading 75.01 million shares valued at N37.50 million in 3 deals, followed by International Energy Insurance Plc with the exchange of 19.63 million shares valued at N11.80 million in 72 deals and Staco Insurance Plc with the Exchange of 9.407 million shares valued at N5.072 million in 57 deals.


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