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Companies’ financials buoy share value by N97bn

Driven by the impressive financials of blue chips companies, the value of listed equities on the Nigerian Stock Exchange (NSE) appreciated last week by N96.93 billion.

Specifically, the capitalisation which opened the week at N7.902 billion rose by 1.23 per cent to close at N7.99 billion. The All-share index appreciated by 1.23 per cent or 303.37 basis points to close the week at 25,036.75 points from 24,733.38 points.

A number of companies such as Total Nigeria Plc, First Bank of Nigeria Plc, Ashaka Cement Plc United Bank for Africa Plc, posted impressive financials, announcing attractive dividends and bonus to shareholders in their 2010 financial year.

The financials led to an increase in investors’ demand for shares on the NSE, leading to a rise in the prices of majority of the listed equities. Guinness Nigeria Plc led 49 other stocks on the gainers’ table during the week, higher than the  37 of the preceding week with a gain of N13.53 or 7.26 per cent to close at N200.03 per share, Nestle Nigeria Plc followed with a gain of N12.00 or 2.73 per cent to close at N452.00 per share and Nigerian Breweries Plc garnered 3.50 or 4.30 per cent to close at N85.00 per share.

Other share price gainers’ include:  Oando Plc N2.49, UAC of Nigeria Plc N2.05, Unilever Nigeria Plc N1.97, Julius Berger Nigeria Plc N0.92, Zenith Bank Plc N0.75, Ecobank Transnational Incorporated Plc N0.72, Stanbic IBTC Bank Plc N0.62, among others.

STERLING BANK PLC: Audited result for the year ended 31st December 2010 shows Gross Earnings of N34.341 billion as against N46.717 billion in the comparable period of 2009. Profit after tax stood at N5.044 billion compared with Loss after tax of N9.019 billion in 2009.

The Net Asset Value stood at N26.118 billion compared with N21.074 billion in December 2009.
The date of closure of registrar of members is to be announced later. The Annual General Meeting is scheduled to hold on Tuesday May 31, 2011 at the Golden Gate Restaurant, Ikoyi Lagos.


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