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Daily Business News Brief – April 3rd, 2024

3
Apr

Stocks open week bearish as investors loss N24.8bn – Dailytrust
Bears emerged in the domestic bourse as the market opened the week’s trading in the red region yesterday with the Nigeria Exchange ( NGX) All-Share Index shed 4 basis points to close the day, reaching 104,518.14 points compared to the previous session’s 104,562.06 points.
The market’s negative performance was driven by investors’ profit taking activities in major stocks such as FBNH (-2.11%) STANBIC (-1.79%), NB (-0.85%), TRANSCORP (-1.41%) and 13 additional stocks………………………………………………………….. ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
Equity investors gained N18tn in Q1 – Punch
The bullish trading pattern of 2023 extended into the first quarter of 2024, resulting in a N18.203tn gain for investors in the Nigerian Exchange.
The exchange had closed 2023 with its All-Share Index at 74,773.77 points, indicating a 45.90 per cent growth.
The market capitalisation also grew, settling at N40.917tn from N27.915tn at the end of 2022. ………………………………………………………….. ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
DMO opens subscription for two federal government savings bonds – Guardian
The Debt Management Office (DMO) has opened subscriptions for two of the Federal Government of Nigeria (FGN) savings bonds at N1,000 per unit. The first offer is a two-year savings bond due to mature on April 9, 2026, at 17.046 per cent per year, while the second is a three-year savings bond due to mature on April 9, 2027, at an interest rate of 18.046 per cent…. .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
BUA Foods Grows Profit To N112bn In 2023 – Independent
BUA Foods has enhanced its Profit After Tax (PAT) by 22.72 per cent to N112.1bn in 2023 from the N91.3bn reported in the prior year.
According to its annual report and financial statements for the year ended December 2023 filed with the Nigerian Exchange Limited, the firm’s revenue rose by 74.36 per cent to N729.44bn…. .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Transcorp Power Reports N30.23bn Profit, Declares N3.13 Dividend – Thisday
Transcorp Power Plc has announced N30.23 billion profit in audited result and accounts for the full year ended December 31, 2023, a growth of 75 per cent from N17.28 billion reported in the 2022 financial year. 
One of the power subsidiaries of Nigeria’s leading listed conglomerate, Transnational Corporation Plc on the Nigerian Exchange Limited (NGX) also declared N52.76billion profit before tax, an increase of 84 per cent from N28.62 billion reported in 2022….. .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
International Breweries Declare N70.03bn Loss in 2023 – Thisday
As the Central Bank of Nigeria unified the foreign exchange market, International Breweries Plc in 2023 financial year declared N70.03 billion loss from N21.63 billion loss declared in 2022 financial year.
The marker of Castle Lite, Trophy, Beta Malt, Hero on the Nigerian Exchange Limited (NGX) also announced N97.27 billion loss before tax in 2023 financial year from N266.84 billion loss before tax reported in 2022…… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Cadbury suffers N19bn loss – Punch
The shareholders of consumer goods firm, Cadbury Nigeria Plc will get no dividend payment for the financial year 2023 as the firm suffered N19. 09bn loss after tax.
According to its annual report and financial statements for the year ended December 2023 filed with the Nigerian Exchange Limited on Tuesday, the loss was a 3,374 per cent tumble from a profit of N583.11m in 2022……. .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
MTN Nigeria seeks shareholders’ input in capital loss management – Punch
MTN Nigeria has announced that it will hold an extraordinary general meeting with its shareholders on how to manage the capital loss it suffered in 2023.
According to a corporate notice filed with the Nigerian Exchange Limited on Tuesday, the EGM is scheduled for later in the month in Lagos. 
……. .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Transcorp Hotels’ revenue grows by 36% – TheNation
The hospitality division of Transnational Corporation Plc, Transcorp Hotels Plc, has released its audited full-year results for 2023, recording unprecedented revenue of N41.5 billion.
The rise as indicated in the report, demonstrates an exceptional growth of 36 per cent from N30.4 billion recorded in 2022. ……. .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
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