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Daily Business News Brief – March 11th, 2024

11
Mar

Stock market rebounds as investors gain N3.26trn – Vanguard
The Nigerian stock market rebounded last week in a positive sentiment, with investors in the Nigerian Exchange Limited, NGX, gaining N3.26 trillion.
Strong performances in MTN Nigeria Week-on-Week, WoW, rising by 10.31%, followed by 4.44% in  BUA Cement and 2.35% in GEREGU drove the market’s positive performance, outweighing losses in Ecobank Transnational  Incorporated, ETI , which dropped by 17.01% W/W,  followed by Nigerian Breweries 10.77%  and International Breweries 10.21%. Consequently, the Year-to-Date (YtD) return rose to 35.52%, while the market capitalisation,……………………………………………………. ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
Cement companies grow revenue to N3tn – Punch
The three cement manufacturing companies listed on the Nigerian Exchange Limited improved their incomes by 30.65 per cent to N3.07tn in 2023.
The financial statements of Dangote Cement, BUA Cement and Lafarge Africa for 2023 showed a revenue of N2.35tn for the previous year.
Dangote Cement brought in the highest amount of revenue at N 2.21tn, boosting the figures for the industry…………………………………………………….. ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
Transcorp Power NGX Debut Expands Investors’ Portfolio – Thisday
Transcorp Power becomes the second Electric Power Generating company to be listed on the mainboard of the Nigerian Exchange Limited (NGX) by Introduction.
In Introduction, the company listing does not have to undergo the book building, underwriting, and public offer process, and no new shares are created; only existing, outstanding shares are sold……… …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Vitafoam to pay N1.95bn dividends – Punch
The shareholders of Vitafoam Nigeria PLC have approved the N1.95bn dividend proposed by the company’s board of directors.
The shareholders gave their approval at the firm’s 62nd Annual General Meeting in Lagos recently.
The dividend of N1.95bn translates into N1.56 kobo per ordinary share of 50 kobo each………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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