Nigerian Stock Exchange. More released results
August 10th, 2007 Ogbuotobo Chuks || chuks@stockmarketnigeria.com
By Ogbuotobo Chuks
The release of company results has in the lat one week sustained its tempo, as more and more companies show what they’ve been able to accomplish with shareholders money in the last one year. Below are some of the results released some few days ago.
Diamond Bank Plc.
The bank released its full year result for the period ended June 30, 2007. In the result, turnover grew by 66 percent, from N22.70 billion in 2006 to N39.40 billion in 2007. Profit before tax increased from N5.4 billion in 2006 to N9.0 billion in 2007. Consequently, after tax profit moved upwards, from N3.9 billion in 2006 to N7 billion in 2007, an increase of 79 percent.
It is in line with this that the bank has declared a dividend of N0.55per share. The register closes on August 21, 2007.
IBTC Chartered Bank Plc
The renowned investment bank also released it full year result for the period ended March 31, 2007.In the result released, turnover soared from N11.20 billion in 2006 to N21.10 billion in 2007. Profit before tax moved from N5.60 billion to N7.40 billion in 2007. Also, profit after tax was northward bound, as this figure increased from N3.9 billion in 2006 to N5.7 billion in 2007.
The bank declared a dividend of N0.30 per share. The price of the stock is currently on technical suspension due to a proposed acquisition by Standard Chartered Bank of South Africa.
NEM Insurance
As expected in the post consolidation of insurance companies, NEM posted an impressive half year result for the period ended June 30, 2007.
In the result, turnover grew by 169 percent, from N0.48 billion in 2006 to N1.3 billion in 2007. Profit before tax was even higher, from N59.5 million in 2006 to N242.9 million in 2007, an increase of 308 percent. Profit after tax was similar, as this figure soared by 349 percent, from N47 million in 2006 to N213.8 million in 2007.
The result is expected to cause some rally in the price of the stock in weeks ahead.
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