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Daily Business News Brief – January 31st, 2024

31
Jan

Stock Market Down N856.17bn on Profit–taking in DSR, 60 others – Thisday
The stock market, yesterday broke its numerous days gaining momentum as the overall capitalisation fell by N856.17 billion on investors’ profit-taking in Dangote Sugar Refinery Plc and 60 others.
Consequently, the Nigerian Exchange Limited All Share Index (ASI) dipped by 1,564.52 basis points, or 1.49 per cent to close at 103,110.15 basis points from 104,674.67 basis points it opened for trading………………………………….. ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
Geregu shareholders to get N20bn dividend – Punch
The board of directors of Geregu Power Plc has proposed a dividend of N8 per share for the 2023 financial year.
The power, in its annual report filed with the Nigerian Exchange Limited on Tuesday, stated the shareholders on its register as of January 29 will be paid N20bn.
The firm has 2.50 billion units of shares
The Chairman of the firm, Femi Otedola, who holds 1,245 units directly and 1,965.979,283 indirectly through…….,……. … …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
TotalEnergies Marketing exceeds Q4 revenue projection – Punch
TotalEnergies Marketing Nigeria Plc posted a better-than-expected result in the fourth quarter of 2023, exceeding its revenue and profit projections.
The 2023 unaudited financial statement of the oil marketing firm, filed with the Nigerian Exchange Limited on Monday, showed that it generated N213.38bn in the fourth quarter, compared to the N138.81bn revenue it projected in September………….. ……. .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
GSK profit dips by 34% – Punch
GlaxoSmithKline Consumer Nigeria Plc’s profit declined by 33.76 per cent to N510.80m in 2023 from N771.15m in the previous financial year.
The unaudited condensed consolidated and separate financial statements of the company filed with the Nigerian Exchange Limited on Tuesday showed that the firm, which had announced the winding up of its operations in the country, recorded a drop in its revenue to N16.44bn from N25.38bn in 2022…………………………………………….., ….. ……. .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Gbadegesin quits Guinness Nigeria board – Punch
GUINNESS Nigeria has announced the resignation of Mrs Tariye Gbadegesin from its board.
According to a statement signed by the Legal Director/Company Secretary of Guinness Nigeria, Mrs Abidemi Ademola, the resignation takes effect from February 24, 2024.
It stated that Gbadegesin’s resignation aligned with the terms of her recent appointment as the Chief Executive Officer of the Climate Investment Funds………………………………………………, ….. ……. .. ,…………… …… …………..,…………….. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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