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03 September 2010	ADSWITCH 1.90  0.00    CAPOIL 0.50  0.00    CUTIX 2.95  0.00    LIVESTOCK 0.55  -0.02    OKOMUOIL 12.60  0.60    PRESCO 6.98  -0.01    NAHCO 9.12  -0.08    DUNLOP 0.50  0.00    RTBRISCOE 3.40  0.00    ACCESS 7.90  -0.20    AFRIBANK 1.80  -0.03    DIAMONDBNK 6.42  -0.07    ECOBANK 4.47  0.03    FCMB 6.55  0.20    FIDELITYBK 2.33  0.00    FIRSTBANK 12.49  -0.26    FIRSTINLND 0.50  -0.01    GUARANTY 15.49  0.09    IBTC 8.80  -0.18    INTERCONT 1.89  0.09    OCEANIC 1.50  -0.04    PLATINUM 1.29  0.06    SKYEBANK 6.87  -0.04    SPRINGBANK 0.76  0.00    STERLNBANK 1.90  0.07    UBA 9.60  0.21    UBN 4.52  -0.23    UNITYBNK 1.01  0.00    WEMABANK 1.01  0.04    ZENITHBANK 12.50  0.03    GUINNESS 163.10  0.11    INTBREW 6.99  0.00    NB 72.38  2.38    ASHAKACEM 22.05  1.05    BCC 65.00  0.80    CCNN 14.96  0.50    WAPCO 37.11  -0.89    BERGER 6.61  -0.34    CAP 35.18  0.00    REDSTAREX 2.86  -0.15    NCR 7.30  0.00    TRIPPLEG 3.96  0.00    PZ 32.50  0.00    TRANSCORP 0.50  0.00    UACN 39.51  -0.75    UNILEVER 24.00  -0.02    COSTAIN 6.87  0.32    JBERGER 52.73  0.00    NIWICABLE 0.55  0.00    7UP 47.90  -2.10    CADBURY 26.50  0.15    DANGFLOUR 17.03  -0.07    DANGSUGAR 16.49  -0.08    FLOURMILL 70.25  0.00    NASCON 6.40  -0.32    NBC 36.29  -1.91    NESTLE 375.00  4.00    NNFM 47.00  0.00    UTC 1.08  0.00    EVANSMED 1.36  0.01    GLAXOSMITH 29.00  0.00    MAYBAKER 4.69  -0.24    NEIMETH 2.41  0.00    ALUMACO 7.75  -0.40    BOCGAS 10.18  0.00    FIRSTALUM 0.97  0.04    VITAFOAM 6.20  -0.10    VONO 0.63  0.00    AIICO 0.96  -0.05    CONTINSURE 1.18  0.02    CORNERST 0.50  0.00    CRUSADER 0.50  0.00    CUSTODYINS 3.50  0.00    EQUITYASUR 0.50  0.00    GNI 0.50  0.00    GUINEAINS 0.50  0.00    HMARKINS 0.50  0.00    INTENEGINS 0.50  0.00    LASACO 0.50  0.00    LAWUNION 0.52  -0.02    MBENEFIT 0.50  0.00    NEM 0.52  0.02    NIGERINS 1.00  0.04    OASISINS 0.51  0.00    PRESTIGE 2.85  0.00    REGALINS 0.50  0.00    ROYALEX 0.54  0.00    STDINSURE 0.50  0.00    UNIC 0.50  0.00    WAPIC 0.58  -0.03    JAPAULOIL 1.19  0.05    UNHOMES 0.72  0.03    BAGCO 2.44  0.00    NAMPAK 4.44  0.00    AP 31.26  1.48    CHEVRON 81.70  0.00    CONOIL 45.00  0.00    ETERNAOIL 6.94  0.00    MOBIL 173.00  0.00    OANDO 62.24  0.00    TOTAL 250.00  0.00    ACADEMY 5.50  0.00    LONGMAN 6.66  0.00    UPL 7.50  0.00    UAC-PROP 19.55  -0.30    ABCTRANS 0.57  0.02    UNTL 0.84  0.00    ETI 16.00  -0.50

2010-04-07 Bank records high turnover, low profit Guaranty Trust Bank Plc (GTB) has posted a high turnover and low profit in its financial results for the year ended December 31, 2009. The bank financial statement, which was presented to the Nigeria Stock Exchange (NSE) on Tuesday, shows a record of 61.57 per cent increase in turnover and 16.35 per cent decline in profit after taxation. The first two banks, Zenith Bank and United Bank for Africa, whose results were released few weeks ago, had also recorded high turnover and low profit. GTB audited result shows gross earnings of N162.550 billion as against the N100.605 billion recorded in 2008. Profit before taxation stood at N27.963 billion compared with N35.329 billion in the preceding year, representing a 20.85 per cent decline. Also, the profit after tax recorded stood at N23.686 billion compared with N28.315 billion in the previous year. Meanwhile, the company’s board of directors has recommended a dividend of 75 kobo per share and a bonus share issue of 1 new share for every 4 held. The proposed date of closure of register for the bank’s shareholders is April 20, while dividend payment date is May 5. The NSE recently listed GTB’s 13.5 per cent Fixed Rate Senior Unsecured Non-Convertible Bond valued at N13.165 billion issued through a Book Building process. The bond, which is the first tranche of the bank’s N200 billion Debt Issuance Programme, has a five-year tenor with 13.5 percent Coupon and semiannual interest payment fixed for June 18 and December 18. The success of the bond would further boost the bank’s turnover in the next financial result. Analysts reaction Commenting on the result, analysts at Proshare Nigeria Limited, an investment advisory firm, in a statement, said, “GTB added momentum to the market appreciation” recorded on Tuesday as the bank in its common year gave dividend and bonus to its investors. “Expectedly, there were positive reactions/responses to the returns declared by the bank (GTB) as the shares of the bank recorded 5 per cent price appreciations at the end of trading session today (on Tuesday),” they said. However, Proshare analysts said while more market performance growth is expected in the days ahead, “the impressions that not many banks would be able to give returns to investors may slow down investors’ patronages in some banking stocks, especially banks that are considered likely to declare more loan loss at the end of the day.” According to them, “In the light of this, we enjoin investors to look before they leap and not be carried away by the euphoria of the present moment, but rather invest on fundamentals and not mainly on speculations.” Also, stock dealers at Afrinvest West Africa said, “A positive reaction trailed the full year results released by GTB, subsequently trading at the upper end of the market; though last minute sales however suggests that the rally might be short-lived.” They noted that the banking sector remained bullish with more gains than losses at the end of the first trading session of the week. Meanwhile, equity research analysts at Renaissance Capital, said the financial results so far released by the three banks are “encouraging.” The experts said activities at the stock market this week will “favour non-financials that are yet to catch up with the recent rally in the market.” Adding: “We also note the momentum from the positive response to recent earnings releases and expectations of upcoming earnings releases in the banking sector. Conversely, we remain sellers of the distressed banks, as well as banks that we think look ripe for profit-taking.” Source:© Copyright 234Next 2010-09-02 Stock market performance remains wobbly 2010-09-02 Buhari’s party plans alliance with 35 others 2010-09-02 Steady power will cost N7.5tr 2010-09-02 America agency trains farmers on cassava 2010-09-01 Nigeria's microfinance policy review underway Lagos Address: 15A, Adeola Odeku Stree Victoria Island Lagos, Nigeria. Telephone Numbers: +234 702 751 0021-30 (Hotlines) +234 709 812 0796 +234 709 812 2336 +234 1 277 1214 +234 1 277 1215 Fax: 234 1 4613787 The Nigerian Stock Exchange Securities & Exchange Commission Central Bank of Nigeria Pencom Nigeria Debt Management Office home | contact | webmail | terms & conditions © 2008 STI Limited All Rights Reserved