Zenith Bank and Starcomms results
August 15th, 2008 Ugonna Maduagufor || ugonna@stockmarketnigeria.com
The much awaited 12 months ended 30th June 2008 unaudited result of Zenith bank Plc has been released to the stake holders of the Nigerian stock Exchange. The company directors of the mega company released a 119 percent imrovement on it’s Profit After Tax, from previous year 2007 comparable periods N18.779 billion to the reported year 2008’s overwhelming improvement of N41.04 billion placing the Earnings Per Share at above N4.00 per share from previous N2.45 per share. Other features of the result includes: a Turnover figure of N158.294 billion as against previous year 2007’s posting of N94.880 billion indicating a 67 percent imrovement; a Profit Before Tax posting of N50.284 billion as against previous N25.676 billion. Unlike most other Mega banks in the new found habit of declaring a twin reward of Bonus shares and dividend, the diretors of Zenith bank has not declared any form of reward for her share holders who would only be hoping for a blanket dividend due to capital appreciation.
In a similar vein, Starcomms Plc also released an unaudited result for a 6 months period ended 30th June 2008. The Communication company which was only listed for trading on the Nigerian stock Exchange on the 14th of July 2008, indicated a continued loss after tax trend. A Turnover of N17.458 billion as against a previous year 2007 comparable period’s N8.695 billion figure; a Loss Before Tax of N1.850 billion as against a previous loss before tax of N381 million; a Loss After Tax of N1.014 billion as against previous year 2007 comparable periods N281 million figure. Inspite of the negative earnings report, Starcomms stocks still emerged as the second most traded stock on the Nigerian Stock Exchange as at the end of today’s trading period, though closing at N10.65 as against the entry value of N13.65 on the 14th of July 2008.
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The market is bringing another opportuny to buy now.
For how long will one continue to expect a positive change in the stocks.why should one stock his money down while other reasonable business is there for one to invest in.i rather go for other business.
Had it been Ihave all the money I could have purchased all of Zenith Bank at the current price. I am sure I will enjoy profit in the future even if not in the near future.
Lets continue to watch, but sincerely speaking Zenith Bank should have given out at least some dividend if not bonuses considering this impressive results! Emulate FBN, pls.
Its very sad meanwhile this hards times is for people who are abroad,who can buy more now for the future.Its not encouraging to the local.poor we,williamschichi@yahoo.com
CANT THE GOVERMENT OR EXPERTS DO SOMETHING ABOUT THE NIGERIA STOCK MARKET CRISIS ??
Well, i am 20yrs of age, i would rather says it was indeed to have a share holders, my own self i can’t imagining having shares at 20, it was really incredible. I advise that if you have the opportunity please don’t hesitate to venture in because you have alots and alots to gain.
Is starcomms still on sell
Was starcomms still on sell
I will like the government to look into the delays of shares certificates by banks and others, the delays of shares certificate is now becoming unbearable.
Pls tell mi 3 diffrnt stocks 2 buy, now dat it’s fallin and where can i invest my money o
it is gross insignificant for investor to withdraw from the stock market. the nigeria economy is a different enterprise from other economy ,it is imperative now for consumer spending on the stock market to advert the bearish trend