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Daily Business News Brief – August 3rd, 2023

Home   /   Business News Brief   /   Daily Business News Brief – August 3rd, 2023
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August 3, 2023
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in Business News Brief
Stock Market Regains Positive Trend After Five-day Losses – This day
After a five-day uninterrupted sessions of losses,  stock market of the Nigerian Exchange Limited (NGX) yesterday recovered as  overall capitalization  gained  N41 billion on investors buy-interest in NASCON Allied Industries and 30 others.
The NGX All-Share Index (ASI) gained 75.16 basis points or 0.12 per cent to close at 64,267.36 basis points. 
Consequently, market capitalisation rose by N41 billion to close at N34.973 trillion.. …………….. .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More

Eterna revenue rises by N69.3bn – Punch
Eterna Plc grew its revenue for the half-year 2023 by 21.2 per cent to N69.34bn compared to N57.22bn reported in the corresponding period of 2022.
It disclosed this in the IFRS Financial Statements for half-year ended June 30, 2023, which was filed with the Nigerian Exchange Limited.
The group said the revenue figure was derived from its main business lines, which include fuels, lubricants and other product distribution (LPG)., . … …………….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

UK, NGX Harp on More Dual Listings, Increase Investment Relationship – Thisday
The United Kingdom (UK) through its Foreign, Commonwealth and Development Office (FCDO) has stated that it will continue to collaborate with the Nigerian Exchange Limited (NGX) to boost more dual listings and deepen investment links to ensure Nigeria’s economic potential is unlocked.
UK government announced the Mobilising Institutional Capital Through Listed Product Structures (MOBILIST) partnership with the Exchang.. .. …,….. ………. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

FCMB Group grows profit to N38.2bn – Punch
FCMB Group Plc grew its profit before tax for the half year 2023 to N38.2bn, marking a 148 per cent growth compared to N15.4bn in the corresponding period of 2022.
It disclosed this in the group’s unaudited six-month results released on the Nigerian Exchange Limited on Tuesday.
Across key indicators, the lender recorded impressive growth. The report showed that various divisions achieved robust earnings growth,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More

Ikeja Hotel grows profit to N398bn – Punch
Ikeja Hotel Plc has grown its profit for the half-year 2023 by 229.97 per cent to N397.54bn compared to N 120.48bn in the same period in 2022.
According to its unaudited consolidated financial statements for the six months, the revenue of the group declined by 33.73 per cent to N4.567bn from N6.89bn.
In its 2022 financial report, Ikeja Hotel’s revenue grew to N12.8bn from N9.8bn in the corresponding period of 2021 on the back of corporate……. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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