Beta Glass Plc releases first quarter results.
May 7th, 2008 Ikechukwu Emelike || ikechukwu@stockmarketnigeria.com
By Ikechukwu Emelike.
Beta Glass Nigeria Plc has released its first quarter result for the period ended March 31, 2008 to the floor of the Nigerian Stock Exchange. Highlights of the results shows that the company was able to move its turn over for the three months period by 22.78 percent from N1.48 billion recorded in same period last year to N1.82 billion in 2008.
Profit before tax for the period increased by 23.73 percent from N0.11 billion in 2007 to N0.14 billion in 2008. After tax profit however appreciated by 33.75 percent from N0.08 billion in the same period in 2007 to N0.10 billion in 2008.
Futhermore, Oasis Insurance set for hybrid offer.
Oasis insurance Plc is seeking approval from regulatory authorities to conduct a hybrid offer. The hybrid offer is to contain both a rights issue and an offer for subscription. Althuogh the date for the offer has not been fixed a statement from the company revealed that it is to offer a rights issue of 1, 250,876,697 units of shares on a basis of 1 for 4 at N4.00 kobo per share, and an offer for subscription of 749,123,303 units of shares at N4.20 kobo per share.
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