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in INVESTING - 21 Aug, 2014
by Nairametrics - no comments

Forte Oil surprised many this year when it crossed N200 after more than tripling its share price in 2013. It was one of this remarkable stock stories that hardly repeats itself. Whilst we may never see a stock gain that much again, at least for now, there are still some stocks that are mostly undervalued […]

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in ANALYSIS - 18 Aug, 2014
by Nairametrics - one comment
Why dumping the food business makes economic sense for Dangote

Dangote Cement Plc (Bloomberg ticker – DANGCEM:NL) is the most capitalized stock on the Nigerian Stock Exchange, with market capitalization of about N3.9 trillion. Last week, Dangcem released its half-year results for the period ended June 2014. We will analyze the financial statements to determine the profitability, and then conclude with its valuation to know […]

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in BUSINESS NEWS - 22 Aug, 2014
by Nairametrics - no comments

Here is Diamond Bank press release in the Nigerian Stock Exchange. Diamond Bank Plc (“Diamond Bank” or the “Bank”) notified The Exchange that Kunoch Holdings (“Kunoch”) has successfully completed the purchase of Actis DB Holdings Limited, a company which holds Diamond Bank shares, from Actis LLP and CDC Group Plc. Actis DB Holdings Limited (“Actis […]

in COMPANIES - 22 Aug, 2014
by Nairametrics - no comments

Oando Plc has announced that it has now converted its $98million loan to its subsidiary Oando Energy Resources to equity. The deal involves the conversion of the debt and interest owed into equity and will see the parent company now owning 93.8% of OER up from 93.2% prior to the deal. Here is the press release; […]

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in RESULTS - 21 Aug, 2014
by Nairametrics - no comments

Academy Press has reported a 3% rise in Group revenues to N2.3billion for the year ended March 2014 (2013 FY: N2.2billion). Profit after tax for the year rose by 54% to N102million compared to N66million posted a year earlier. Earnings per share for the year was 20kobo. – read more >>

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in RESULTS - 21 Aug, 2014
by Nairametrics - no comments

GT Bank Plc released its 2014 Half year results showing pre-tax profits dropped 7% to N53.3billion (2013 H1: N57.3billion). The company also proposed 25kobo dividend and will cost the company about N7.3billion. Share price dropped 2% at the time of this report. The table below summarized the entire results. – read more >>

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in BUSINESS NEWS - 21 Aug, 2014
by Nairametrics - no comments

Only about 10 to 15 of the 113 bad debtors (companies) that the Central Bank of Nigeria (CBN) barred from further borrowings from banks two years ago have been able to repay their loans taken over by the Asset Management Corporation of Nigeria (AMCON). – read more >>

in BUSINESS NEWS - 21 Aug, 2014
by Nairametrics - 2 comments

5 Ways to Stop Being So Busy. Follow the link and thank me later. http://www.inc.com/laura-garnett/5-ways-to-stop-being-so-busy.html?cid=sf01001 The post above and its ensuing comments, if any, is purely the opinion of the writer(s). It therefore should never be considered as an investment advise of any sort. If required, readers should please consult a competent professional financial adviser […]

in BUSINESS NEWS - 21 Aug, 2014
by Nairametrics - no comments

Forte Oil Plc, owners of the Geregu Power Plant, says it has signed a $90m agreement with Siemens for the overhaul of the plant ahead of the introduction of the Transition Electricity Market. The Group Chief Executive Officer, Forte Oil, Mr. Akin Akinfemiwa, disclosed this on Tuesday when he led members of the company’s management […]

in BUSINESS NEWS - 21 Aug, 2014
by Nairametrics - 2 comments

The new managing director of Julius Berger Nigeria Plc, Mr. Detlev Lubasch, has assured that he would sustain the construction company’ s growth. Lubasch succeeded Mr. Wolfgang Goetsch on July 1, 2014. Lubasch, who has 27 years of experience within Julius Berger in both Nigeria and Germany; said he would dedicate his tenure to continuing […]

in BUSINESS NEWS - 20 Aug, 2014
by Nairametrics - no comments

The CBN las week announced it was reintroducing the N65 ATM withdrawal charge which it had stopped in December 2012. The decision to reintroduce the charge on “remote on us” ATM Transactions wasn’t well received by many leading the CBN to issue a press release regrading the fees. They gave the following reason for the decision […]

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in TAX - 20 Aug, 2014
by Nairametrics - no comments
NIPC

  Nigeria’s economy is growing rapidly. In recent times, there has been keen interest from the international sphere in its emerging markets. These days and in relatively every field we have returnees from diaspora seeking to take advantage of the available growth opportunities. Until recently, the international market was drawn mainly to Nigeria’s oil wealth. […]

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in ANALYSIS - 20 Aug, 2014
by Nairametrics - no comments
rp_tax-cuts-again-please1.jpg

Whether in starting out in business or in seeking to expand, business owners often look for different sources of secondary capital. Capital can be raised using financial instruments such as bonds, shares, loans, etc. These sources of capital can be classified as either Debt or Equity. – read more >>

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in COMPANIES - 19 Aug, 2014
by Nairametrics - no comments
Forte Oil Pix

The management of Forte Oil have announced plans to carry out a major overhaul of its Geregu power generation plant within the next 8 months. Group CEO Akinsola Akinfenwa, revealed the company’s intention today at Forte Oil’s Fact Behind The Figures presentation at the Nigerian Stock Exchange.  – read more >>

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in BUSINESS NEWS - 19 Aug, 2014
by Nairametrics - no comments

The report, entitled ‘Understanding Africa’s middle class,’ found there are 15 million middle-class households in 11 of sub-Saharan Africa’s top economies this year, up from 4.6 million in 2000 and 2.4 million in 1990 – an increase of 230% over 14 years. However, of the total number of households across these focal economies, 86% of […]

in BUSINESS NEWS - 19 Aug, 2014
by Nairametrics - no comments

Nigeria’s foreign debt stands at $9.38 billion, up 40 percent in absolute terms from its last publicly available data of $6.7 billion at the end of March 2013, the Debt Management Office said on Tuesday. The DMO said local debt was currently at 8.9 trillion naira($55 bln), up 37.1 percent from 6.49 trillion naira at […]

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