cutix plc, any takers?

[c kenneths]

The price trend of this second tier stock has been on the upward move for some days now, its so bullish that it have added around 40 % and still going, is this because the company is planning to list their share in the first tier or are there any other factors propelling the price of this company.

We are curious here, let those who know inform others before we missout entirely on a good thing.

[Geeman]

Originally Posted by c kenneths

The price trend of this second tier stock has been on the upward move for some days now, its so bullish that it have added around 40 % and still going, is this because the company is planning to list their share in the first tier or are there any other factors propelling the price of this company.

We are curious here, let those who know inform others before we missout entirely on a good thing.

Cutix has declared a dividend of 12k and a bonus share of 1:1 and the price is soaring. The Register will close on 19th October. Does anyone know anything about this company. Will government policy of revamping the energy sector have a positive impact on this company? Is it a good stock to buy and take advantage of the goodies?

[hispy99]

Results - Cutix Plc
Posted Tuesday, September 2, 2008

International Breweries today released its un-audited results for the half year ended 30th June, 2008. Turnover jumped by 114.67% to N501 million, PBT also increased by 170.15% to N56.53 million, while PAT also increased by 170.15% to N56.53 million, from loss of N80.59million in the corresponding period of 2007.

In addition, Cutix today released its audited result for the financial year ended 30th April, 2008. Turnover grew by 22.64% to N1.3 billion, PBT inched up by 4.24% to N195.5 million, however, PAT declined by 5.92% to N114.48 million, from N121.69 million in the corresponding period of 2007. With this result, the company’s EPS is estimated to be 21 kobo while PE ratio is estimated to be 52x. The stock however, closed on full offer, causing the share price to lose full 1%.

[hispy99]

The Share Price Of Cutix Plc Was Adjusted For A Dividend Payment Of 12kobo Today.

[hispy99]

Wednesday, October 22, 2008

At 25, CUTIX Plc celebrates leadership, determination
By Babatola Adeyemi

THERE is something peculiar about CUTIX Plc's 25th year anniversary celebration slated for next week Friday at its Nnewi factory, Anambra State.

It is a celebration of human values. Indeed, the cable manufacturing company chose "profiles in courage" as the theme of its celebration and selected three assessed courageous Nigerians as exemplary leaders.

These were former President Ibrahim Babangida, Governor Peter Obi of Anambra State and Prof. Ilochi Okafor, vice chancellor, Nnamdi Azikiwe University, Awka, Anambra State.

Justifying the company's decision, its Chairman, Dr. Ajulu Uzodike declared: "We frequently find faults with ourselves in Nigeria and landmark contributions, which advanced national development are rarely acknowledged. Could this be why very few Nigerians bother to excel? Cutix Plc at her silver jubilee acknowledges the courage of three Nigerians, playing leading roles at this ceremony, who made landmark contributions face of opposition or derision, while holding leadership positions in Nigeria recently."

Uzodike, a former Vice President of Manufacturers Association of Nigeria (MAN) then explained what was described as the courageous profiles of the listed leaders.

On Babangida, he stated: "as president of Nigeria he courageously empowered Nigerians to own the Nigeria economy like no other Head of State before or after him has ever done. By courageously replacing import licensing with the structural adjustment programme he restored life to all genuine businesses in the country.

By liberally granting banking licences to many Nigerians he laid the foundations for Nigerians to become significant players in the highly important banking sector. By instituting funds like (NERFUND), and Small and Medium Scale Enterprises (SME) schemes, he enabled many Nigerians to set up industries of significant size. By granting of oil prospecting licenses to many Nigerians he opened the participation of Nigerians in this important sector CUTIX Plc salutes and associates with Gen. I.B. Babangida for this courage."

And on Anambra State governor, the CUTIX boss also disclosed: His Excellency Mr. Peter Obi courageously relied on the law many times to restore the electoral mandate he got from the people of Anambra State. He followed this by sticking to his believe that only through planning can sustainable development be achieved and his plans are beginning to bear fruits.

He also continues to invest broadly in education, health care etc. In addition to the highly visible roads which his critics advice he should concentrate on. CUTIX Plc salutes and associates with Mr. Peter Obi for this courage.

As for the Vice Chancellor of Nnamdi Azikiwe University, the industry chief also stated: "Prof. Ilochi Okafor, SAN, met mountains of problem including poor and insufficient infrastructure at Nnamdi Azikiwe University, Awka when he became vice chancellor five years ago. He courageously used innovative financing options and his personal networks to transform the university to a leading institution in Nigeria in terms of infrastructure and academic excellence, hence the label 'The University of the Moment'. CUTIX Plc salutes and associates with Prof. Ilochi Okafor for his courage.

Significantly too, Uzodike stressed also that CUTIX Plc itself is another profile in courage.

In his words: "CUTIX Plc is also about courage. Like the above individuals her founders chose not to follow the comfort of the beaten tracks. Its founders courageously did many things many thought appeared crazy in the early eighties. Firstly, they left established industrial towns like Lagos to set up their factory at the then village-like Nnewi. Secondly they had the company managed by Nigerians without foreign technical partners.

"They opened the company soon after its establishment to other Nigerians through private placement. They refused to pass off the exclusive quality cables made by the company as foreign made. They also took the company public four years after starting it. Finally, they made sure that the company ran profitably for all the benefit of all stakeholders. The greatest testimony to the courage of the founders of CUTIX Plc is the Nnewi Industrial Cluster, which they helped to pioneer."

Indeed, the company has come a long way, with an impressive performance record. For instance, its five year financial summary from 2004 to 2008 indicated a steady rise in turnover from N434,208m, to N574,181m, N714,167m, N1,064,021m and N1,307,337m respectively.

Similarly, profit after tax for the same period grew steady, from N35,720m to N43,624m, N54,321m, N121,691m and the only exception N114,481m.

Expectedly, as the company holds its 25th yearly several meeting on the same day of its anniversary celebration, Uzodike will use the occasion to review its operation and share its future prospects with stakeholders.

In a memo despatched to shareholders ahead of the 25th yearly general meeting, the chairman stated: "The directors believe that we should continue with our conservative dividend policy, which has enabled rapid growth though internal funding. The directors are, therefore, recommending a dividend of 12 kobo per share. This is the same rate as that of last year.

However, a shareholder, who did not sell any of his share since the last dividend would receive double the amount he got last year as a result of the one for one scrip (bonus) issued last year."

On the company's future prospects Uzodike stated inter-alia: "We have reached an advanced stage in the commissioning of our newly acquired power cable machines. Other machines have been acquired and are being installed to increase our manufacturing depth."

He added, "a new factory site is more than 50 per cent developed. Plans to extend the existing factory, which have been approved by the board, shall be implemented in 2009."

The chairman reiterated the company's commitment to the production of high quality cables and urged the Federal Government to improve the operating environment, especially the poor state of infrastructure.

He also canvassed an improvement in the capacity of the Standards Organisation of Nigeria (SON), to enable the regulatory agency "Police and enforce standards in the Nigerian markets, to optimise the benefits for manufactuers like us, who maintain very high standards