Nigerian Stock Exchange: WAPCO Plc, Guinness Nigeria Plc Release Results.
February 25th, 2008 Ikechukwu Emelike || ikechukwu@stockmarketnigeria.com
By Ikechukwu Emelike
West African portland cement plc has just released its audited financial result for the year ended 31 December 2007 to the Nigerian Stock Exchange . A break down of the just released result shows that turnover for the period fell from N39.6 billion in 2006 to N38.6 billion in 2007. Profit before tax increased slightly from N12.1 billion in 2006 to N12.5 billion in the corresponding period in 2007. Retained profit for the year droped from N10.9 billion in 2006 to N10.6 billion in 2007.
According to a statement from the company cement despatched for the year was 13 percent lower compared with the volume achieved in 2006 , these was due to several outages in the supply of natural gas to production facilities. The board has however agreed to propose a dividend payout of N1.20 on every ordinary issue to members at the 49th annual general meeting of the company scheduled to hold on Friday 23rd May 2008. The proposed dividend payout is above the payout for 2006 despite the reduction in net income for the year.
Guinness Nigeria Plc.
Guinness Nigeria plc has also released her unaudited result for the half year ended 31st December 2007 to the floor of the Nigerian Stock Exchange. In the result, turnover for the period increased by 9 percent from N29.37 billion in 2006 to N32.12 billion in 2007. Profit before tax grew by 11 percent from N6.95 billion in 2006 to N7.71 billion in 2007. After tax profit also increased by 11 percent from N4.72 billion in the same period in 2006 to N5.24 billion in 2007.
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