National sport lottery plc releases full year report
April 8th, 2009 Zakari Faith || faith@stockmarketnigeria.com
The National sport lottery plc is listed on the Commercial Services sub-sector of the Nigerian Stock Exchange.
The company released its full year report for the period ended December 31st 2008. It seems the company has been able to drag itself from the cumulative losses it made in 2006 and 2007 to profitability in 2008.
The turnover recorded a 1,349% growth from N158.36 million in 2007 to N2.29 billion in 2008. The profit after tax increased by 123.5%; from a loss after tax of N457.26 million in 2007 to a profit of N111.61 million.
The full year earnings per share was 2kobo which was a far cry from the loss per share of 9kobo recorded in the corresponding period of 2007. The profit margin was 5% which is low but which gave hope of sustainability.
The P/E ratio was 57.81x and the market price at time of review was N9.25, which simply means that investors really have a long wait before they begin to recoup their investment.
The net assets were N6.39 billion, up from N811.95 recorded in 2007. The last trading date on the Exchange was March 27th 2009.
The National sport lottery plc board of directors had earlier in the financial year declared an interim dividend of 10kobo per share to its shareholders while no final dividend was declared.
Source:
Ambrose Omordion and Kanayo John, (April 12, 2009).Earnings report analysis.Stockwatch newspaper, back page.
 |
This market is good money. I completely recommend. Lotto business is good market Nigeria and in fact West Africa. It will be around for a while. Check it out.