Nigeria Enamelware and Nigeria Energy Sector Funds reward investors
October 15th, 2008 Ugonna Maduagufor || ugonna@stockmarketnigeria.com
NIGERIAN ENAMELWARE PLC, an ‘Industrial/Domestic Products’ sector listed company of the Nigerian Stock Exchange, recently changed its accounting year from September 30th, to April 30th. In line with this Change, the company released a harmonising 7 Months Audited result for the year ended 30th April 2008.
The result showed: a Turnover of N1.510 billion as against previous end of year(September 30th 2007) figure of N1.568 billion; a Profit Before Taxation of N41.324 million as against previous N38.233 million; a Profit After Taxation of N19.783 million as against previous N24.539 million; while the retained earnings was N2.503 million as against previous N7.259 million. Also the company directors proposed a 60 Kobo dividend as well as a 1 for every 5 unit share holding. The closure of register for this purpose is November 13th to 17th 2008, while the payment date is the 24th of September 2008, this would likely form the top agenda during the up comming Annual General Meeting, slated for the December 11th 2008.
Similarly, Nigerian Energy Sector Fund released its Year Ended 31st March 2008 earnings summary to the market. The company which is listed under the ‘Other financial Institutions’ sector of the Nigerian Stock Exchange, being a closed end fund focused on the energy sector, would be rewarding the fund investors by way of a N152.00 final coupon per note. The closure of register for this purpose is October 20th 2008 while the closure date on 5th of November 2008. However the reported result showed: a Turnover of N176.519 million as against previous year comparable period’s figure of N135.853 million; Profit Before Taxation of N184.757 million as against previous year comparable period’s figure of N135.853 million; and a Profit After Taxation of N151.519 million as against previous year comparable period’s figure of N75.778 million.
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