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  #121 (permalink)  
Old 2nd November 2011, 04:13 PM
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Default Re: UNIC INSURANCE Plc
Quote:
Originally Posted by wanaj0 View Post
You must be working with UBA They are the one that think positive PAT implies GOOD result.
but na profit dem we go take arrange us dividends naa??? abi u folllow for people (directors) wey dem get pay dividends even when coy make loss???
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  #122 (permalink)  
Old 2nd November 2011, 05:52 PM
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Default Re: UNIC INSURANCE Plc
Quote:
Originally Posted by wanaj0 View Post
You must be working with UBA They are the one that think positive PAT implies GOOD result.
Abeg, no take laughter tear my belle o
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  #123 (permalink)  
Old 2nd November 2011, 07:33 PM
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Default Re: UNIC INSURANCE Plc
Quote:
Originally Posted by cashrules View Post
but na profit dem we go take arrange us dividends naa??? abi u folllow for people (directors) wey dem get pay dividends even when coy make loss???
You will be surprised that the dividend wey you get na the last one when you realise that the profit is from asset striping. Companies declaring profit because they are selling their assets
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  #124 (permalink)  
Old 7th December 2011, 03:42 PM
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Default Re: UNIC INSURANCE Plc
THE Nigerian STOCK EXCHANGE
Result Announcement
UNIC INSURANCE PLC
December 7, 2011
Audited Year-End (Dec. 2010)
Profit and Loss Information
Gross Premium 31/12/2010 N1.709b 31/12/2009 N2.740b
Net Operating Profit/(Loss) 10 (N93.251m) 09 N436.569m
Interest & Similar Income 10 N429.182m 09 N471.370m
Diminution in Value of Quoted Investments 10 (N129.675m) 09 (N338.207m)
Management Expenses 10 (N1.115b) 09 (N989.310m)
Provision for Receivables 10 (N97.996m) 09 (N107.884m)
Profit before Tax 10 (N1.007b) 09 (N527.462m)
Taxation 10 (N17.922m) 09 (N11.303m)
Profit After Tax 10 (N1.025b) 09 (N538.765m)

Balance Sheet Information
Fixed Assets 31/12/2010 N2.841b 31/12/2009 N3.122b
Long term Investments 10 N1.408b 09 N1.745b
Short term Investments 10 N20.822m 09 N236.722m
Trade Debtors 10 N607.536m 09 N92.555m
Cash and Bank Balances 10 N66.699m 09 N79.891m
Other Debit Balances 10 N1.949b 09 N2.382b
Trade Credits 11 N361.426m 09 N75.063m
Insurance Funds 10 N400.502m 09 N382.036m
Other Debit Balances 10 N3.144b 09 N3.198b
Net Assets 10 N2.804b 09 N3.829b



very much as predicted by Oga Wanajo!
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  #125 (permalink)  
Old 8th December 2011, 03:04 AM
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Default Re: UNIC INSURANCE Plc
Quote:
Originally Posted by cashrules View Post
THE Nigerian STOCK EXCHANGE
Result Announcement
UNIC INSURANCE PLC
December 7, 2011
Audited Year-End (Dec. 2010)
Profit and Loss Information
Gross Premium 31/12/2010 N1.709b 31/12/2009 N2.740b
Net Operating Profit/(Loss) 10 (N93.251m) 09 N436.569m
Interest & Similar Income 10 N429.182m 09 N471.370m
Diminution in Value of Quoted Investments 10 (N129.675m) 09 (N338.207m)
Management Expenses 10 (N1.115b) 09 (N989.310m)
Provision for Receivables 10 (N97.996m) 09 (N107.884m)
Profit before Tax 10 (N1.007b) 09 (N527.462m)
Taxation 10 (N17.922m) 09 (N11.303m)
Profit After Tax 10 (N1.025b) 09 (N538.765m)

Balance Sheet Information
Fixed Assets 31/12/2010 N2.841b 31/12/2009 N3.122b
Long term Investments 10 N1.408b 09 N1.745b
Short term Investments 10 N20.822m 09 N236.722m
Trade Debtors 10 N607.536m 09 N92.555m
Cash and Bank Balances 10 N66.699m 09 N79.891m
Other Debit Balances 10 N1.949b 09 N2.382b
Trade Credits 11 N361.426m 09 N75.063m
Insurance Funds 10 N400.502m 09 N382.036m
Other Debit Balances 10 N3.144b 09 N3.198b
Net Assets 10 N2.804b 09 N3.829b



very much as predicted by Oga Wanajo!
N1bn management expenses

Anyway, Nigerian German has turned the corner so let's see what happens to this one now.

Did they 'SAY' dividend?
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  #126 (permalink)  
Old 8th December 2011, 02:33 PM
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Default Re: UNIC INSURANCE Plc
Quote:
Originally Posted by cashrules View Post
THE Nigerian STOCK EXCHANGE
Result Announcement
UNIC INSURANCE PLC
December 7, 2011
Audited Year-End (Dec. 2010)
Profit and Loss Information
Gross Premium 31/12/2010 N1.709b 31/12/2009 N2.740b
Net Operating Profit/(Loss) 10 (N93.251m) 09 N436.569m
Interest & Similar Income 10 N429.182m 09 N471.370m
Diminution in Value of Quoted Investments 10 (N129.675m) 09 (N338.207m)
Management Expenses 10 (N1.115b) 09 (N989.310m)
Provision for Receivables 10 (N97.996m) 09 (N107.884m)
Profit before Tax 10 (N1.007b) 09 (N527.462m)
Taxation 10 (N17.922m) 09 (N11.303m)
Profit After Tax 10 (N1.025b) 09 (N538.765m)

Balance Sheet Information
Fixed Assets 31/12/2010 N2.841b 31/12/2009 N3.122b
Long term Investments 10 N1.408b 09 N1.745b
Short term Investments 10 N20.822m 09 N236.722m
Trade Debtors 10 N607.536m 09 N92.555m
Cash and Bank Balances 10 N66.699m 09 N79.891m
Other Debit Balances 10 N1.949b 09 N2.382b
Trade Credits 11 N361.426m 09 N75.063m
Insurance Funds 10 N400.502m 09 N382.036m
Other Debit Balances 10 N3.144b 09 N3.198b
Net Assets 10 N2.804b 09 N3.829b



very much as predicted by Oga Wanajo!
what happen to their top line and net Asset, are they still with BUPA ?
Last edited by halfbread; 8th December 2011 at 02:36 PM.
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  #127 (permalink)  
Old 8th December 2011, 06:03 PM
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Default Re: UNIC INSURANCE Plc
Quote:
Originally Posted by wanaj0 View Post
N1bn management expenses

Anyway, Nigerian German has turned the corner so let's see what happens to this one now.

Did they 'SAY' dividend?
Management no go chop..haba
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  #128 (permalink)  
Old 9th December 2011, 06:50 AM
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Default Re: UNIC INSURANCE Plc
Quote:
Originally Posted by cashrules View Post
THE Nigerian STOCK EXCHANGE
Result Announcement
UNIC INSURANCE PLC
December 7, 2011
Audited Year-End (Dec. 2010)
Profit and Loss Information
Gross Premium 31/12/2010 N1.709b 31/12/2009 N2.740b
Net Operating Profit/(Loss) 10 (N93.251m) 09 N436.569m
Interest & Similar Income 10 N429.182m 09 N471.370m
Diminution in Value of Quoted Investments 10 (N129.675m) 09 (N338.207m)
Management Expenses 10 (N1.115b) 09 (N989.310m)
Provision for Receivables 10 (N97.996m) 09 (N107.884m)
Profit before Tax 10 (N1.007b) 09 (N527.462m)
Taxation 10 (N17.922m) 09 (N11.303m)
Profit After Tax 10 (N1.025b) 09 (N538.765m)

Balance Sheet Information
Fixed Assets 31/12/2010 N2.841b 31/12/2009 N3.122b
Long term Investments 10 N1.408b 09 N1.745b
Short term Investments 10 N20.822m 09 N236.722m
Trade Debtors 10 N607.536m 09 N92.555m
Cash and Bank Balances 10 N66.699m 09 N79.891m
Other Debit Balances 10 N1.949b 09 N2.382b
Trade Credits 11 N361.426m 09 N75.063m
Insurance Funds 10 N400.502m 09 N382.036m
Other Debit Balances 10 N3.144b 09 N3.198b
Net Assets 10 N2.804b 09 N3.829b



very much as predicted by Oga Wanajo!

All these insurance companies will need to merge!! It is a must.

Close shop or merge!
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  #129 (permalink)  
Old 9th December 2011, 07:45 AM
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Default Re: UNIC INSURANCE Plc
Quote:
Originally Posted by Oracle View Post
All these insurance companies will need to merge!! It is a must.

Close shop or merge!
I doubt they will merge unless they are forced to do so. These companies are not making profit for ordinary investors, but I'm sure they are making for themselves. Imagine a company that has net assets of just barely N2B now spending over N1B for management expenses. Abeg, what did they manage? Management was likely very profitable!
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  #130 (permalink)  
Old 9th December 2011, 07:50 AM
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Default Re: UNIC INSURANCE Plc
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Originally Posted by pumping View Post
I doubt they will merge unless they are forced to do so. These companies are not making profit for ordinary investors, but I'm sure they are making for themselves. Imagine a company that has net assets of just barely N2B now spending over N1B for management expenses. Abeg, what did they manage? Management was likely very profitable!
My Oga, long time no hear!

Yes I know they are making money for themselves(board members and management level).

They will give themselves contract through their fronts and in that way they will not care about the company(whether manking loss or gain).
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  #131 (permalink)  
Old 9th December 2011, 12:41 PM
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Originally Posted by knightofdelta View Post
Oga Wanaj0, UNIC is in serious trouble. I can't say more...
Quote:
Originally Posted by knightofdelta View Post
The rate at which corporate bodies are pulling the plugs on Unic health insurance is nothing short of alarming. The topline is going to be hit hard.
Does anybody remember these posts?
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  #132 (permalink)  
Old 9th December 2011, 12:56 PM
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Default Re: UNIC INSURANCE Plc
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Originally Posted by knightofdelta View Post
Does anybody remember these posts?
Hmmm...........Yeah Yeah I remember reading and seeing your posts

But after being burnt by Insurance stocks..........I wisely stayed away

so whats cooking on the Western Front called UNIC Insurance Plc????
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  #133 (permalink)  
Old 9th December 2011, 01:41 PM
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Default Re: UNIC INSURANCE Plc
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Originally Posted by Oracle View Post
My Oga, long time no hear!

Yes I know they are making money for themselves(board members and management level).

They will give themselves contract through their fronts and in that way they will not care about the company(whether manking loss or gain).
Professor,

Yes o...it's been a while....my hands have been full for a while...I try to pop in from time to time...to enjoy all una invaluable contributions..
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