Longman Nigeria

[hispy99]

LONGMAN: PLACED ON TECHNICAL SUSPENSION

LONGMAN NIGERIA PLC, WEHAVE TODAY PLACED THIS STOCK ON TECHNICAL SUSPENSION FOLLOWING THE RECEIPT OF FORMAL NOTIFICATION IN RESPECT OF THE PROPOSED PLACING OF SHARES BY THE COMPANY.



Who has any idea about this?

[hispy99]

Latest Market Info
LONGMAN: YEAR END DEC 31 2007

LONGMAN NIGERIA PLC, YEAR ENDED DECEMBER 2007 TURNOVER 07 N2.314b, 06 N1.743b

PBTAXATION 07 N458.815m, 06 N283.561m

TAXATION 07 (N182.022m)06 (N79.810m)

PATAXATION 07 N276.793m, 06 N203.751m

PROPOSED DIVIDEND/SHARE 100KOBO

CLOSURE DATE JULY 7, 2008

PAYMENT DATE JULY 28, 2008

[billions]

LONGMAN NIGERIA PLC
UNAUDITED RESULT FOR HALF YEAR ENDED 30-06-2008
2008 2007
TURNOVER N1.037b N664.687m
PROFIT BEFORE TAXATION N53.361m N30.704m
TAXATION (N17.075m) (N9.825m)
PROFIT AFTER TAXATION N36.286m N20.879m

[hispy99]

Originally Posted by billions

LONGMAN NIGERIA PLC
UNAUDITED RESULT FOR HALF YEAR ENDED 30-06-2008
2008 2007
TURNOVER N1.037b N664.687m
PROFIT BEFORE TAXATION N53.361m N30.704m
TAXATION (N17.075m) (N9.825m)
PROFIT AFTER TAXATION N36.286m N20.879m

decent result

[billions]

Pearson increases stake in Longman Nigeria to 51%
Posted Tuesday, August 5, 2008



PETER OBIORA

Proshare NI

August 05, 2008 at 17:12 GMT



United Kingdom (UK) based Pearson Education Limited is to increase its stake in Longman Nigeria Plc to 51 percent. This was contained in a statement made available to Proshare NI in Lagos Nigeria.



The statement affirms that this move by Pearson UK to increase its shareholding in Longman Nigeria would translate to about N2.0 billion Foreign Direct Investment (FDI) in the Nigerian economy.



Emmanuel Ijewere, Chairman, Longman Nigeria, affirmed that if the expected rise in the shareholding is approved, Pearson would assist Longman Nigeria to strengthen its competitive advantages in curriculum development, content creation, assessment testing and the application of technology which is particularly critical as Nigeria embraces the digital age.



"Needless to say, there are excellent opportunities in the education sector in Nigeria and the best way to maximise these opportunities is to strengthen our relationship with Pearson” he said.

He further affirmed that as the largest education company in the world, “Pearson UK would offer investment resources and expertise which will benefit all the stakeholders in Nigeria” Ijewere said.



The statement also affirmed that Longman Nigeria intends to increase the company’s share capital from 200,000,000 to 500,000,000 by creating an additional 600,000,000 shares of 50 kobo each.



Longman Nigeria will on Thursday, August 7, 2008 in Lagos Nigeria hold its 35th Annual General Meeting (AGM).



As earlier reported by Proshare NI Longman Nigeria is proposing to offer its investors a N1.00 dividend per every share of 50 Kobo each.



Unaudited Half year result of the company for the period ended June 30, 2008 shows that Turnover of the company increased from N0.665 billion in the same period of 2007 to N1.037 billion in 2008 indicating an increase of 55.94 percent in the review period.



While Profit before Tax (PBT) also grew from N0.031 billion in 2007 half year to N0.053 billion in 2008 showing a growth of 70.97 percent.



Profit after Tax (PAT) also rose from N0.021 billion in the half year of 2007 to N0.036 in the same period of 2008 representing a rise of 71.43 percent in the review period.

[prince dagbolu]

Pearson's investment in Longman is a graet development.

[BLUEMONEY]

Originally Posted by prince dagbolu

Pearson's investment in Longman is a great development.

it is a welcome development. infact more FDI is needed in the market right now.
i hope J.P MORGAN is still not scaring them away from our market - (I have not seen thier recent report about our market) - becuase i dont think the market is still Overpriced. they should let them know that at least the market is now Attractive.

[hispy99]

TURNOVER PBT TAX PAT
N'000 N'000 N'000 N'000
30-Sep-08 9 Mths N1,538,000 N168,969 (N54,070) N114,899
30-Sep-07 9 Mths N1,339,000 N138,442 (N44,301) N94,141
14.86% 22.05% 22.05%

[Michael]

Originally Posted by BLUEMONEY

it is a welcome development. infact more FDI is needed in the market right now.
i hope J.P MORGAN is still not scaring them away from our market - (I have not seen thier recent report about our market) - becuase i dont think the market is still Overpriced. they should let them know that at least the market is now Attractive.

If they think the prices are attractive, they will buy first and then start pumping the market

[hispy99]

Longman spends N2.5bn yearly to print books abroad
By Sulaiman Adenekan
Published: Sunday, 30 Nov 2008
The Chairman, Longman Nigeria Plc, Mr. Emanuel Ijewere, has disclosed that the company spends N2.5bn yearly to print books abroad. According to him, this excludes its intellectual property, a situation the company wants to reverse.

He stated this during a visit by the Consulate General, Federal Republic of Germany, Dr. Ralf Teepe and President Nigeria-German Business Group, Mr. Joe Femi-Dagunro, to the company on Friday in Lagos.

He said presently, 85 per cent of books sold to schools were printed abroad, mainly in Europe, but had in the past 15 years printed in Asia countries, specifically in Tunisia, Singapore, Malaysia, India, Hong Kong among others.

He said the company deemed it fit to commence printing of its books in Nigeria, as against printing them abroad, which was why it was partnering with Germany business stakeholders owing to their expertise in printing technology.

He said the company did not intend to have printing company as a full-time business, so as not to divert its attention from its core business of publishing.

Ijewere said, ” As a developing country with responsibility, we believe that we must start setting up proper printing companies in Nigeria, with a population of 150million we cannot continue with the way we are going .

”That is why we are partnering the oldest and well known country for printing (Germany) through its flagship of printing called Heidelberg, and we will need to talk to a number of German companies to enable us achieve this.”

He said local printing of books in Nigeria would help curtail international piracy that had taken over the industry.

Speaking on the state of the economy, he said Nigeria was a developing economy with many problems at hand, adding that the fall in the price of oil would force Nigeria to look into alternative sources of revenue especially in agriculture.

According to him, the downturn in the global economy was good for Nigeria if only it could take advantage of it to develop the country