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Daily Business News Brief – May 24th, 2024

24
May

Equity market sustains bearish trend with N84bn loss – Punch
The Nigerian Exchange on Thursday continued its losing streak, as it shed N84bn, underpinned by losses recorded in the stocks of Skyway Aviation Handling, NEM Insurance and 26 others.
The All-Share Index experienced a decrease of 0.15 per cent to settle at 97,978.02 basis points. The market capitalisation also declined by 0.15 per cent to N55.424tn……………………………………………………………………………………………………………………………………….. .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
International Breweries announces price hikes – Punch
International Breweries has announced that it has implemented price hikes across its various offerings in Nigeria.
In a statement made available to The PUNCH, the company said the price review was implemented to serve its customers better.. . ….. ………………………………………………………………… ……………………… .. . .,.. ………… …….. ………………… … .. …… ..  …. . ……….. ………. …………. . ….. . … …………….……..Read More
International Breweries Launches 161.17bn Rights Issue – Thisday
International Breweries Plc (IBPLC) has announced the launch of a rights issue offer of 161,172,395,100 shares to its shareholders at the offer price of N3.65 per share.
The rights being offered are six (6) new Ordinary Shares for every one (1) Ordinary Share held as of May 2, 2024. Each Ordinary Share holds an equity value of two (2) kobo. This offer will enable shareholders to consolidate their ownership of the company and optimise their future profitability.
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Champion Breweries deepens growth with N604m profit – The Nation
Champion Breweries  has recorded N604 million profit before tax in its 2023 financial year.
The company achieved a profit after tax of N371 million, demonstrating its capacity to generate profits and create value for stakeholders.
This was announced at the company’s  48th Annual General Meeting (AGM) in Lagos….. …. . …… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Unilever launches new deodorant, unveils campaign – The Nation
Unilever has announced the new Rexona deodorant, which boasts 72-hour protection from sweat and odour, while launching its “Stay Dry and Fresh for Longer”  campaign .
The product leverages cutting-edge motion sense technology with intelligent formula that adapts to movements, releasing more protection…. … , . …… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
FBN Holdings releases 2023 audited accounts, profits surge by 128% – Nairametrics
FBN Holdings Plc, the parent company of FirstBank, has released its audited financial statements for the year ended December 2023.
The group reported a profit after tax of N310.4 billion, a significant increase from the N136.3 billion reported for the same period in 2022. This marks the highest profit ever declared by the financial services giant in its more than 130-year history…….,.. , . …… .  . … ………. …………………..,……………………………………………….. …. …… . ……… . ……………… . …………………………. ….:,….. … ……….. .. ……..  . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More
Daily Business News Brief 

May 24th, 2024
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