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Daily Business News Brief | Monday, April  25th, 2022.

25
Apr

Q1 Corporate Earnings: Investors Bargain Hunting Lifts Stock Market by N486bn – Punch

Following the release of some corporate earnings for first quarter (Q1) ended March 31, 2022, investors bargain hunting in some fundamental stocks lifted the Nigerian Exchange Limited (NGX) northward with its week-on-week (WoW) growth in market capitalisation reaching N486billion. So far, BUA Cement Plc, Stanbic IBTC Holdings, among others have released Q1 2022 unaudited results that showed impressive growth in profit as investors taking position was the overarching theme during trading activities last week ahead of more Q1 2022 corporate earnings releases. …………………read more

Transcorp’s earnings hits N111.2bn in 2021 – Punch

Transnational Corporation Plc’s earnings rose to N111.2bn in 2021 financial period. A statement on Sunday said that this was disclosed during the Group’s 16th annual general meeting in Abuja.  The statement said, “The Group saw significant growth across all metrics. Group gross earnings increased to N111.2bn in 2021, from N75.3bn in 2020.  “Profit before tax increased to N27.99bn, from N1.6bn.  Profit after tax recorded in 2020 was N3.8bn, while 2021 saw an increase by N23.8bn and total assets grew to N416bn in 2021 from N319.2bn in 2020.”……………..read more

10 Banks Interest Income Up 19.4% on High-yield Environment, Loans & Advances – Thisday

Following increased lending to corporates, individuals and high-yield environment, a total of 10 commercial banks reported a 19.4 per cent increase on interest income generated from loans & advances to customers in 2021.  …………………read more

NGX Regulation CEO Tasks Market Stakeholders on Improved Climate-related Financial Disclosure – Daily Independent

NGX Regulation Limited has urged all market stakeholders to come up to speed with recent trends in climate disclosure by paying closer attention to climate related financial risks and opportunities in their business operations in line with the recommendations of the Financial Standards Board (FSB) Task Force on Climate-related Financial Disclosures (TCFD). . ………………. read more

High food prices’ll continue in Nigeria, others till 2023–IMF– Vanguard

The International Monetary Fund says the impact of the war in Ukraine is likely to sustain pressure on commodity prices, affecting oil and gas prices severely in 2022 and food prices well into 2023 in Nigeria and other countries of the world. The Washington-based lender disclosed this in its ‘World Economic Outlook: War Sets Back the Global Recovery April 2022,’ report. According to it, inflation is expected to remain high, and far longer than it had previously forecasted…………..read more

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