Nigerian Stock Exchange: Juli Plc and Continental Re post results.
May 26th, 2008 Ikechukwu Emelike || ikechukwu@stockmarketnigeria.com
By Ikechukwu Emelike.
Juli Plc And Continental Reinsurance Plc has declared their results to the floor of the Nigerian Stock Exchange.
Juli Plc.
Juli Plc released its audited result for the full year ended December 31, 2007. Comparative analysis of the results with that recorded in its 2006 financial year shows that the results were not impressive as the company was only able to increase its turnover by 27.42 percent, from N0.186 billion in the 2006 financial year to N0.237 billion in 2007 financial year. Profit before tax wore a negative look as it fell by 73.68 percent from N0.019 billion in 2006 to N0.005 billion in 2007. After tax profit for the full year period also decreased significantly by 70.83 percent from N0.024 billion in 2006 to N0.007 billion in 2007.
Continental Reinsurance Plc.
Continentinental Reinsurance Plc also made public its first quarter result for the three months ended March 31, 2008. Highlights of the results showed that turnover for the three months period grew by 70.43 percent comparable to its first three months in the 2007 financial year. Its turnover grew from N0.487 billion in 2007 to N0.830 billion in 2008.
Profit before tax for the period moved from N0.195 billion in 2007 to N0.787billion in 2008 indicating an increase of 303.59 percent. After tax profit appreciated by 304.11 percent during the three months period from N0.444 billion in the same period in 2007 to N0.590 billion in 2008.
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