Aso Savings

[faoogoke]

Originally Posted by Articulate

Can you confirm from your stockbroker if they've actually suspended verification of Aso shares. I am begining to suspect foul play. Because Tiddo Securities, who is our stockbroker, told majority of my colleagues that the verification has been suspended for over three months now.

Thanks.

You will still need to confirm from Tiddo if verification has been restarted. The reason for the supposed suspension could be because Aso Loan changed it's registrar from Tiddo to First registrar.
We should contact First registrar because they are now the registrar for the bank.

[Articulate]

Originally Posted by faoogoke

You will still need to confirm from Tiddo if verification has been restarted. The reason for the supposed suspension could be because Aso Loan changed it's registrar from Tiddo to First registrar.
We should contact First registrar because they are now the registrar for the bank.

Thanks. I'll talk to my stockbroker.

[faoogoke]

Originally Posted by Articulate

Thanks. I'll talk to my stockbroker.

You can call first registrar on 07028414732.

[Articulate]

Originally Posted by faoogoke

You can call first registrar on 07028414732.

Thank for your assistance. I am relieved that 2 million Aso Saving shares have finally landed in my CSCS Account.

I am contemplating selling some shares and taking position in either Oceanic, Skye, GTB Bank or IEI. Any advise from experts in the house?

[hispy99]

Originally Posted by Articulate

Thank for your assistance. I am relieved that 2 million Aso Saving shares have finally landed in my CSCS Account.

I am contemplating selling some shares and taking position in either Oceanic, Skye, GTB Bank or IEI. Any advise from experts in the house?

Good choices in my opinion

[billions]

Originally Posted by hispy99

Good choices in my opinion

I completely agree,d IEI I bought at 5 naira is not N3.60.
.

@Articulate....Enjoy

[billions]

ASO SAVINGS AND LOANS PLC
AUDITED ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2008
2008 2007
GROSS EARNINGS N7.063b N1.979b
PROFIT BEFORE TAXATION N1.331b N286.183m
TAXATION (N189.289m) (N9.565m)
DEFERRED TAXATION (N80.927m) NIL
PROFIT AFTER TAXATION N1.061b N276.618m
PROPOSED DIVIDEND 5 KOBO CLOSURE DATE TO BE
ADVISED LATER PAYMENT DATE TO BE ADVISED LATER

[Articulate]

Originally Posted by billions

ASO SAVINGS AND LOANS PLC
AUDITED ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2008
2008 2007
GROSS EARNINGS N7.063b N1.979b
PROFIT BEFORE TAXATION N1.331b N286.183m
TAXATION (N189.289m) (N9.565m)
DEFERRED TAXATION (N80.927m) NIL
PROFIT AFTER TAXATION N1.061b N276.618m
PROPOSED DIVIDEND 5 KOBO CLOSURE DATE TO BE
ADVISED LATER PAYMENT DATE TO BE ADVISED LATER

Thanks for the information. With this report, what is the PE for the bank and what is your opinion on this performance projecting into the future.

[billions]

Originally Posted by Articulate

Thanks for the information. With this report, what is the PE for the bank and what is your opinion on this performance projecting into the future.

The growth is good but d EPS is 12.2k,PE is 24.5...The performance is very good but i dont know much about Aso savings/loan plc .....it is hard for me to say much about the future performance.

Since u hv 1 or 2 million units,you can sell part of ur holdings and wait for the Q1 result to come out,if d result is great...then d future is probably very nice.

...but i think d company shd be okay.

[Articulate]

Originally Posted by billions

The growth is good but d EPS is 12.2k,PE is 24.5...The performance is very good but i dont know much about Aso savings/loan plc .....it is hard for me to say much about the future performance.

Since u hv 1 or 2 million units,you can sell part of ur holdings and wait for the Q1 result to come out,if d result is great...then d future is probably very nice.

...but i think d company shd be okay.

Many thanks for insightful analysis. It's reassuring to know that the performance is very good. I was initially skeptical when they did not release any result since 2006. Aso Savings controls almost 80% of Abuja mortgage business. I am sure they are benefing greatly from the booming Abuja property market. The MD used to work in my office, he is very bright young chap. If the management remains focussed, he can take the company to greater height.

I've actually sold some of the shares when the price was around N4.10 and also instructed my stockbrokers to buy back in bits, anytime the price is below N3 (considering the current state of the market and the fact some people actually bought the PP at 50k per share).

[zainabusman]

Originally Posted by Articulate

Many thanks for insightful analysis. It's reassuring to know that the performance is very good. I was initially skeptical when they did not release any result since 2006. Aso Savings controls almost 80% of Abuja mortgage business. I am sure they are benefing greatly from the booming Abuja property market. The MD used to work in my office, he is very bright young chap. If the management remains focussed, he can take the company to greater height.

I've actually sold some of the shares when the price was around N4.10 and also instructed my stockbrokers to buy back in bits, anytime the price is below N3 (considering the current state of the market and the fact some people actually bought the PP at 50k per share).

Hassan Usman is young? The man must be in his 40s and definetely older than the Chairman of Aso Savings (Abdu Mukhtar). If it the same Hassan Usman i know, he worked in BPE and Nigeria Int bank.

[Articulate]

Originally Posted by zainabusman

Hassan Usman is young? The man must be in his 40s and definetely older than the Chairman of Aso Savings (Abdu Mukhtar). If it the same Hassan Usman i know, he worked in BPE and Nigeria Int bank.

Yes it is the same Hassan Usman. He is 'relatively' young. I know Abdu Mukhtar too (who is even younger). I don't know that he is the current Chairman of Aso Savings. Both of them actually worked in my office (BPE). Considering the fact that they left BPE in 2003 as young Advisers, they've actually taken giant leaps since then.

[billions]

Originally Posted by Articulate

Many thanks for insightful analysis. It's reassuring to know that the performance is very good. I was initially skeptical when they did not release any result since 2006. Aso Savings controls almost 80% of Abuja mortgage business. I am sure they are benefing greatly from the booming Abuja property market. The MD used to work in my office, he is very bright young chap. If the management remains focussed, he can take the company to greater height.

I've actually sold some of the shares when the price was around N4.10 and also instructed my stockbrokers to buy back in bits, anytime the price is below N3 (considering the current state of the market and the fact some people actually bought the PP at 50k per share).

I am happy dat u sold some of ur holdings at N4.10k.Chei,people too sharp for this forum.

[billions]

Originally Posted by billions

I am happy dat u sold some of ur holdings at N4.10k.Chei,people too sharp for this forum.

I just noticed dat the Q1 result is out...very outstanding performance.

Aso savings seems great...d forward PE shd be abt 10.

[billions]

Aso Savings & Loans Plc
1st Quarter Ended 30/06/08
2008 2007
Tunrover N2.415m N1.59m
Pbt N963.68m N319.72m
Tax (n289.1m) (n95.9m)
Pat N674.58m N223.80m

[zainabusman]