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2016 in review: Manufacturing sector groans under recession weight

DESPITE expectations of better business environment in 2016, the reverse was the case for operators in the manufacturing sector of the economy.

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Presco Plc: Investors reward good performance

Wading through the bearish market sentiment for most trading days in 2016, investors have amply rewarded good performance in Presco Plc.
The company had turned in impressive first half 2016, H1’16, results on July 29, 2016 with stellar performance in both topline and bottomline. Consequently, the market rewarded the stock with almost 5.0 per cent gains in the first post-result trading day.

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Implications of Lagos bond repayment re-scheduling —Cowry Assets

BONDHOLDERS may hope for improved liquidity with the proposed Lagos State repayment re-scheduling. Reacting to the plans by Lagos State Government to propose a new repayment schedule for the bond Managing Director/Chief Executive Officer, Cowry Asset Management Limited, Mr. Johnson Chukwu, said “The reason why the Lagos State Government wants to convert two of its outstanding bonds of N80 billion and N87.5billion, totalling N167.5billion, from bullet payment bonds to amortising bonds is for the state to reduce the interest burden it is bearing on both bonds.

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