Nigerian Stock Exchange. Recently released results (2)
July 31st, 2007 Ogbuotobo Chuks || chuks@stockmarketnigeria.com
By Ogbuotobo Chuks
Flour Mills of Nigeria Plc.
The flour giants released their full year results for the period ended March 31, 2007. In the result released, gross turnover grew by 22 percent, from N86.5 billion in 2006 to N105.6 billion in 2007. Profit before tax went northward, from N6.3 billion in 2006 to N9.7 billion in 2007, an increase of 54 percent.
On the other hand, after tax profit moved by 57 percent, from N4.7 billion in 2006 to N7.4 billion in 2007. Based on this, management has decided to pay a dividend of N0.90 per share. The closure date of the register is August 13, 2007.
Skye Bank Plc.
The bank is indeed marching against all odds to prove itself in the banking sector of the exchange.It release its 3rd quarter result last week also, which was very good especially now that most banks are posting profits with percentage increases of over 100 percent.
The company grew turnover by 106 percent, from N13.9 billion in 2006 to N28.7 billion in 2007. Profit before tax increased from N1.2 billion in 2006 tom N4.6 billion in 2007, an increase of 263 percent. Profit after tax also grew form N0.8 billion in 2006 to N3.2 billion in 2007.
If this is sustained, the bank is sure of posting an impressive full year result.The price of the stock is currently trading below the N12.00 mark.
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