By Michael Eboh & Providence Obuh
Tantalizers Plc has recorded significant decline in its top and bottom line in its half year financial performance, with a 68.69 per cent drop in its profit after tax.

According to its unaudited results for the second quarter ended, June 30, 2010, the company recorded a profit after tax of N 71.272 million from N227.631 million recorded in similar period in 2009.

Its turnover also dropped by 10.82 per cent to N2.51 billion from N2.82 billion recorded in 2009, while its profit before tax stood at N76.87 million, dropping by 68.7 per cent from N245.51 million.

Also, in its audited result for the year ended, December 31, 2009, University Press Plc recorded a 19.14 per cent growth in its turnover from N1.61 billion to N1.92 billion in 2008, it posted a profit before tax of N410.37 million from N336.4 million, while its profit after tax appreciated by 14.69 per cent to N276.82 million from N241.36 million in 2008.

The company also posted a turnover of N110.16 million in its unaudited financial statements for the period ended, March 31, 2010, compared to a turnover of N159.89 million in similar period of 2009, it posted a loss before tax of N79.29 million compared to a loss of N36.99 million in 2009, while it recorded a loss after tax of N79.29 million compared to N36.99 million in 2009.

Meanwhile, Nigerian Aviation Handling Company Plc (NAHCO Aviance) is proposing an interim dividend of N0.25 per share for its shareholders in its audited year ended, March 31, 2010.

Also, Northern Nigerian Flour Mills Plc has announced a dividend of 80 kobo per share and a bonus of one ordinary share for every five ordinary shares held by its shareholders in its March 31, 2010, financial statements.

Meanwhile, trading on the Nigerian Stock Exchange (NSE) resumed the week on a bearish note Monday, as the value of listed equities represented by the market capitalisation dipped by N51.31 billion due to price taking by investors.

In particular, the capitalisation recorded a decline of 0.81 per cent to close at N6.269 trillion from N6.320 trillion at which it opened.

Another key performance indices, the All share index dipped by 0.81 per cent, recording a decline of 209.79 points to close at 25,634.39 points from 25,844.18 points.

The decline on price indices was as a result of investors taking advantage of the improvement on share price over the past week, Guinness Nigeria Plc led on the losers table with a loss of N4.00 to close at N165.00 per share, Union Homes Real Investment Trust followed with a loss of N2.50 to close at N50.00 per share and Nigerian Bottling Company Plc dipped by N1.77 to close at N34.10 per share.

Other share price losers include: Unilever Nigeria Plc N1.14, UAC Nigeria Plc n0.81, Ecobank Transnational Incorporation N0.65, Nigerian Breweries Plc N0.54, Stanbic IBTC Plc N0.42, First City Monument Bank Plc N0.39, Honeywell Flour Mill Plc N0.32, among others.

Meanwhile, Mobil Nigeria Plc recorded the most share price gain, with a gain of N7.00 to close at N165.00 per share, Nestle Nigeria Plc followed with a gain of N5.00 to close at N369.00 per share and PZ Cussons Nigeria Plc garnered N1.70 to close at N35.70 per share.

Other share price gainers include: Glaxo Smithkline Consumer Plc N0.57, Flour Mills Nigeria Plc N0.50, National Salt Company Nigeria Plc N0.35, Dangote Sugar Refinery Plc N0.30, Union Bank Nigeria Plc 0.17, Ecobank Nigeria Plc N0.14, Skye Bank Plc N0.14, among others.

Equity trading plunged by 44.93 per cent as a turnover of 193.39 million shares valued at N2.08 billion was recorded in 5,997 deals, in contrast to Friday’s turnover of 351.20 million shares valued at N3.13 billion in 5,917 deals.

Banking stocks enjoyed the most patronage on the sectorial analysis accounting for 52.6 per cent of the market turnover with 101.72 million shares valued at N892.09 million in 3,205 deals.  Zenith Bank Plc was the most active in the sub-sector trading 20.85 million shares valued at N294.08 million in 417 deals, Diamond Bank Plc followed with the exchange of 10.90 million shares valued at N82.12 million in 139 deals and First Bank of Nigeria Plc recorded 9.97 million shares valued at N133.50 million in 610 deals.

Insurance stocks followed on the sectorial analysis accounting for 15.39 per cent of the market turnover with 29.76 million shares valued at N28.18 million in 248 deals.  AIICO Insurance Plc led the sub-sector trading 8.76 million shares valued N11.90 million in 92 deals, Continental Reinsurance Plc followed with the exchange of 4.97 million shares valued at N6.18 million in 21 deals and Regency Alliance Insurance Plc recorded 3.91 million shares valued at N1.95 million in one deal.