Contrary to the bearish mood of the market that has been on for a while since the beginning of the second quarter of 2007, companies are still releasing impressive quarterly and full year results.Some of such companies include UTC, Ecobank and UNIC Insurance. The breakdown of the figures are as below.

UTC

The food conglomerate recently released it full year result for the year ended December 31,2007. The result is quite late but still impressive all the same. In the result released, turnover for the period increased by 693 percent, from N120 million in 2005 to N952 million in 2006. This can be credited to the new products that were introduced into the market in the last one year, which is already yeilding desired results.

Profit before tax increased from a negative of N287 million to N54 million in 2006, thereby increasing by 119 percent. Profit after tax increased along the same line as the figure increased from a loss of N167 million in 2005 to N53 million in 2006.

Ecobank Transnational Incorporated

The bank released an impressive half year result for the period ended June 30, 2007.It had an imprerssive previous financial year, and would be working at sustaining that level.

In the released result, turnover grew from N22.10 billion in 2006 to N38 billion in 2007, representing an increase of 72 percent.Profit before tax increased by 49 percent, from N6.90 billion in 2006 to N10.30 billion in 2007.Consequently, after tax profit increased from N4.10 percent to N6.55 billion, an increase of about 60 percent.