Aso Savings and Loans

[knightofdelta]

Originally Posted by Waves

Another suspicious volume today.

KOD : Please any idea who is making these purchases? I know this company's FY11 results is due for release.

Will find out tomorrow.

[Waves]

September 13, 2011
Earnings Forecast Q3
Profit and Loss Information
Turnover 11 N14.344b
Profit before Tax 11 N2.854b
Forecast tax11 (N856.500m)
Profit After Tax 11 N1.998b

Nice forecast for Oct -Dec, 2011. But where are the results for FY2010 and Q1 2011?

[horlads]

Originally Posted by Waves

September 13, 2011
Earnings Forecast Q3
Profit and Loss Information
Turnover 11 N14.344b
Profit before Tax 11 N2.854b
Forecast tax11 (N856.500m)
Profit After Tax 11 N1.998b

Nice forecast for Oct -Dec, 2011. But where are the results for FY2010 and Q1 2011?

The forecast is for March to December 2011 cumulative and not just October to December 2011.....

[Waves]

Originally Posted by horlads

The forecast is for March to December 2011 cumulative and not just October to December 2011.....

Good. I think it is time someone helps me sort this out. When you see a forecast and result on the NSE, are they both cumulative? Is there not standard for these on the NSE?

[horlads]

Originally Posted by horlads

The forecast is for March to December 2011 cumulative and not just October to December 2011.....

Originally Posted by Waves

Good. I think it is time someone helps me sort this out. When you see a forecast and result on the NSE, are they both cumulative? Is there not standard for these on the NSE?

Well, you have to look at the numbers vis-a-vis the name of the company and where they stand currently. For example, UBA released a forecast for the period ended December 2011 and the bottom line read N14 billion. From what we know now, UBA cannot make N14b in a quarter (this translates to N56 billion annualized...) and so, I conclude that the forecast is for the full year. again Skye Bank released forecast for the same period and the bottom line reads N1.6 billion. I need no soothsayer to come to the conclusion that Skye bank only provided the figure for Q4 alone...

The forecast released by Aso Savings show that they will make a profit on over N1 billion. This has to be for the cumulative 9 months and not just for three months between October and December because, even when they (Aso) were making money, they could not boast of such numbers...

Cheers...

[Waves]

Originally Posted by horlads

Well, you have to look at the numbers vis-a-vis the name of the company and where they stand currently. For example, UBA released a forecast for the period ended December 2011 and the bottom line read N14 billion. From what we know now, UBA cannot make N14b in a quarter (this translates to N56 billion annualized...) and so, I conclude that the forecast is for the full year. again Skye Bank released forecast for the same period and the bottom line reads N1.6 billion. I need no soothsayer to some to the conclusion that Skye bank only provided the figure for Q4 alone...

The forecast released by Aso Savings show that they will make a profit on over N1 billion. This has to be for the cumulative 9 months and not just for three months between October and December because, even when they (Aso) were making money, they could not boast of such numbers...

Cheers...

Thank you my brother. Just another example of the quality of management we have at SEC and NSE. Companies can decide to send in forecast in whatever form they want and it is left to investors to draw their own conclusions. Wish these NSE guys can just focus on 'house cleaning' stuff like this before talking about introducing ETF in Q4.

[hispy99]

Originally Posted by Waves

Thank you my brother. Just another example of the quality of management we have at SEC and NSE. Companies can decide to send in forecast in whatever form they want and it is left to investors to draw their own conclusions. Wish these NSE guys can just focus on 'house cleaning' stuff like this before talking about introducing ETF in Q4.

I concur

[Oracle]

THE Nigerian STOCK EXCHANGE
Result Announcement
ASO SAVINGS & LOANS
November 4, 2011
Audited Accounts (Dec. 2010)
Profit and Loss Information
Gross Earnings 31/03/2011 N11.007b 31/03/2010 N10.012b Interest & Similar Income 11 N9.431b 10 N8.758b Interest & Similar Expenses 11 (N5.488b) 10 (N5.769b) Fees, Commissions & Other Income 11 N1.576b 10 N1.253b Operating Expenses 11 (N4.458b) 10 (N4.121b) Provision for losses 11 N842.155m 10 (N3.364b) Exceptional 11 Nil 10 N114.685 Profit Before Tax 11 N1.902b 10 (N3.127b) Taxation 11 (N690.524m) 10 (N119.650m) Profit After Tax 11 N1.212b 10 (N3.247b)
Balance Sheet Information
Fixed Assets 31/03/2011 N1.770b 31/03/2010 N1.865b Long term Investments 11 N155.110m 10 N155.110m Treasury Bills 11 N20.431b 10 N15.645b Loans & Advances 11 N33.079b 10 N32.548b Cash and Bank Balances 11 N641.233m 10 N337.065m Other Debit Balances 11 N20.883b 10 N12.275b Deposits 11 N65.009b 10 N45.177b Other Credit Balances 11 N8.943b 10 N15.914b Net Assets 11 N3.008b 10 N1.796b
Corporate Actions
Proposed Dividend
Nil
Proposed Bonus
Nil
Payment Date
Nil
Closure Date
Nil
AGM Date
Nil
AGM Venue
Nil
Notes

[Salida]

ASO Savings Posts N1.9bn Profit, Articles | THISDAY LIVE

[Nelsonekos]

ASO SAVINGS and LOANS November 28 2011
Unaudited Accounts Q2 (Sept 2011)
30/09/2011 30/09/2010
Gross Earnings N4.876b N5.551b
Interest Expenses (N1.126b) (N1.533b)
Net Earnings N3.749b N4.018b
Operating Expenses (N2.376b) (N1.945b)
Interest on Borrowings (N988.852m) (N1.681b)
Provision for Loans (N628.162m) (N2.523m)
Profit Before Tax (N243.348m) N394.248m
Taxation Nil (N292.310m)
Profit After Tax (N243.348m) N101.937m)
BI 30/09/2011 31/03/2011
Fixed Assets N4.368b N4.070b
Placements N16.048b N8.659b
Investments N272.205m N272.205m
Loans AND Advances N28.417b N36.415b
Cash and Bank Balances N3.341b N3.029b
Other Debit Balances N18.631b N8.297b
Deposits N64.426b N54.955b
Other Credit Balances N4.546b N3.085b
Net Assets N2.105b N2.702b

[Salida]

Aso Savings and Loans puts value of mortgage at N32 billion

[Salida]

Aso Savings ready to focus on broad spectrum

[Waves]

A good result that justifies a rights issue is in the offing.

[laso]

Originally Posted by Waves

A good result that justifies a rights issue is in the offing.

Rights issue my foot! Im just looking 4 an oppurtunity 2 sell this yeye stock. I havent got buyer 4 it for gud 1year. Mad!

[Salida]

ASO Savings Loan Portfolio Grows by 35 %, Articles | THISDAY LIVE

[Salida]

Originally Posted by Waves

A good result that justifies a rights issue is in the offing.

Aso Savings to Raise N5bn through Rights Issue, Articles | THISDAY LIVE

[Salida]

Aso Savings & Loans Plc announces Change of Year End - Proshare

[Picolena66]

Nigeria: Aso Savings Optimistic On Success of N5 Billion Rights Issue *
Managing Director/Chief Executive Officer of Aso Savings and Loans
Plc, Mr. Hassan Usman, has said that he is assured that the N5 billion
rights issue embarked on by the mortgage bank will be well subscribed
to, going by huge patronage that greeted it.
allAfrica.com: Nigeria: Aso Savings Optimistic On Success of N5 Billion Rights Issue

[Salida]

ASO Savings partners Cross River on housing scheme

[Waves]

Worth keeping an eye on this one.