Union Homes plc recently released its result for the third quarter ended December 31, 2007. The company according to the figures released had a wonderful quarter when compared to the corresponding period for the previous year. The highlights are detailed below.

Turnover for the period moved upwards from N5.45 billion in 2006 to N5.52 billion in 2007, a mere 2.6 percent increase. Profit before tax wasa however better as this figure climbed 98 percent, from N0.86 billion in 2006 to N1.71 billion in 2007.

Profit after tax was also impressive as the company increased this figure from N0.72 billion in 2006 to N1.32 billion in 2007.The share price on the day of the release cosed at N7.90.

Still on stocks, the banking sector of the exchange is currently experiencing some price fall. This most likely is due to the new rule that all banks should have a common year end. This has caused some banks that would have released and declared results in the first and second quarter of 2008 to push this forward, thereby starving investors of a reason to rush banking stocks. Lets just watch and see how they fare in the first quarter of 2008