Livestock Feeds, G T Bank Release Results.
February 21st, 2008 Ikechukwu Emelike || ikechukwu@stockmarketnigeria.com
By Ikechukwu Emelike
Livestock Feeds
Livestock Feeds Nigeria plc a company listed in the agriculture sub sector of the Nigerian Stock Exchange has made public its half year result. A comparative study of the result and that recorded in the same period in the preceding year shows that the results were impressive. The company was able to increase its turn over by 68.68 percent from N268.17 million to N452.34 million. Profit after tax for the period stood at N23.7 million as against N9.5 million declared in the corresponding period last year indicating an increase of over 140 percent.
The company whose share price opened January this year at N3.63 has appreciated considerably reflecting the forgoing. It has no doubt delivered capital gains as the price has increased by over 65 percent this year, closing at N7.00 at the end of trading on February 20, 2008. Pundits are of the view that the price may likely hit the N10.00 mark before the end of the first quarter of this year.
G T Bank.
Guaranty trust bank has also released its first quarter unaudited result for its 2007/2008 financial year to the Nigerian stock exchange. A break down of the just released result shows a 35 percent increase in the banks earnings and growth in its market share. Gross earnings for the period increased from N10.9 billion last year to N14.9 billion for the 3 months under review. Profit before tax increased by 66 percent from N3.1 billion recorded last year to N5.1 billion. After tax profit also appreciated by 66 percent to stand at N3.5 billion.
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