By Michael Eboh and Providence Obuh
Skye Shelter Fund Plc has recorded a 43 per cent growth in its profit after tax for its second quarter financial period.
According to its unaudited financial statement for the second-quarter (Q2) ended, June 30, 2010, released to the Nigerian Stock Exchange (NSE), Monday, the company’s profit after tax grew to N124.9 million from N87.31 million recorded in the comparable period in 2009.

Its turnover appreciated by 28.16 per cent to N161.1 million from N125.7 million recorded in 2009, while it recorded a profit before tax of N124.9 million compared to N87.31 million in 2009.

United Nigeria Textile Plc (UNTL), on the other hand, posted a disappointing first-quarter 2010, financial performance, with a loss after tax of N369.32 million compared to a loss after tax of N514.87 million in similar period in 2009.

This was occasioned by a 27.07 per cent drop in its turnover, according to its unaudited results for the first quarter ended, March 31, 2010, financial statement, to N1.69 billion from N2.33 billion recorded in 2009.

Adswitch Plc, in its audited result for the year ended, April 31, 2010, recorded a profit after tax of N10.18 million, representing an appreciation of 56.43 per cent from a profit after tax of N6.509 million recorded in 2009.

Its turnover grew by 75.37 per cent to N148.58 million compared to N84.73 million recorded in 2009, while its profit before tax stood at N15.02 million compared to N9.6 million in recorded in 2009.

The declining trend on the Nigerian Stock Exchange (NSE) was halted, Monday, as the value of listed equities appreciated by N41.98 billion.

In particular, the capitalisation rose by 0.69 per cent to close at N6.152 trillion from N6.110 trillion at which it opened.

Another key performance indices, the All-share index appreciated by 171.66 basis points, garnered 0.69 per cent to close at 25,156.46 points from 24,984.80 points.

The improvement was brought about by investors taking advantage of the downswing that was recorded throughout last week.

Northern Nigerian Flour Mills Plc lead on the gainers’ table with a gain of N1.85 to close at N38.86 per share, Nigerian Breweries Plc followed with a gain of N1.45 to close at N69.46 per share, Unilever Nigeria Plc garnered N1.22 to close at N25.72 per share.

On the contrary, Total Nigeria Plc recorded the most share price loss dropping by N5.01 to close at N245.00 per share, Flour Mills Nigeria Plc followed with a loss of N1.51 to close at N72.50 per share and Lafrage Cement WAPCO Plc dipped by N1.44 to close at N38.55 per share.

Other share price losers include: African Ptroleum Plc N0.98, Cement Company of Northern Nigeria Plc N0.72, Ashaka Cement Plc N0.42, National Salt Company Nigeria Plc N0.38, Ecobank Transnational Incorporation Plc N0.34, May and Baker Nigeria Plc N0.28, Ecobank Nigeria Plc N0.23, among others.

Equity trading depreciated by 40.88 per cent, meanwhile, a turnover of 263.08 million shares valued at N2.31 billion was recorded in 5,819 deals compared to Friday’s turnover of 445 million shares valued at N3.22 billion in 6,092 deals.

The Banking sub-sector enjoyed the most patronage on the sectorial analysis accounting for 67.94 per cent of the market turnover with 178.73 million shares valued at N1.51 billion in 3,294 deals.  First Bank of Nigeria Plc was the most active in the sub-sector trading 37.42 million shares valued at N486.91 million in 783 deals.

Finbank Plc followed with the exchange of 32.19 million shares valued at 16.24 million in 145 deals and United Bank for Africa Plc recorded 27.79 million shares valued at N282.67 million in 340 deals.

The Insurance sub-sector trailed on the sectorial analysis accounting for 9.13 per cent of the market turnover with 24.01million shares valued at N29.20 million in 197 deals.

AIICO Insurance Plc was the most sought after in the sub-sector trading 13.79 million shares valued at N16.29 million in 63 deals, Guaranty Trust Assurance Plc followed with the exchange of 2.90 million shares valued at N5.90 million in 25 deals and Mutual Benefit Assurance Plc recorded 2.07 million shares valued at N1.03 million in eight deals.

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