Investors gain N23bn as stock market advances by 0.10%

The Nigerian stock market on Tuesday closed on a positive note as the All Share Index appreciated by 0.02% to close at 45,939.51 points from the previous close of 45,928.27 points.Investors gained N6 billion as the Market Capitalisation grew by 0.02% to close at N24.755 trillion from the previous close of N24.749 trillion.An aggregate of N247.69 million units of shares were traded in 4,242 deals, valued at N3.577 billion.The Market Breadth closed positive as 20 equities emerged as gainers against 15 equities that declined in their share prices.Percentage Gainers :chart_with_upwards_trend:Courteville Business Solutions Plc led other gainers with 10% growth, closing at N0.55 from the previous close of N0.50.Ecobank and Academy Press among other gainers also grew their share prices by 9.94% and 9.72% respectively.Percentage Losers:chart_with_downwards_trend:C&I Leasing led other price decliners, shedding 10% of its share price to close at N3.78 from the previous close of N4.20.Prestige Assurance and Cornerstone Insurance among other price decliners also shed their share prices by 9.88% and 3.77% respectively.Volume Drivers :rice:GTCO traded about 24.52 million units of its shares in 408 deals, valued at N625.35 million.Courteville traded about 21.43 million units of its shares in 58 deals, valued at N11.76 million.Transcorp traded about 20.44 million units of its shares in 129 deals, valued at N21.65 million.
Gorgeous Ventures: Cadbury Nigeria Plc has published its Fourth Quarter report for the year ended 31 December, 2021A turnover of N42.372 billion was reported for the 12 months period, up by 19.67% from N35.407 billion reported the previous year.Profit after tax was down year on year by 10.81% to N830.48 million from N931 million reported the previous year. Earnings per share of Cadbury Nigeria stands at 44 kobo.At the share price of N9.5, the P.E ratio of Cadbury stands at 21.49x with earnings yield of 4.65%. FCMB reports N208.53bn as turnover, PAT rises by 6.54% in Q4 2021
FCMB reports N208.53bn as turnover, PAT rises by 6.54% in Q4 2021
First City Monument Bank (FCMB) on Wednesday published its Fourth Quarter report for the year ended 31 December 2021. The result shows year on year growth in the Bank’s top line and bottom line figures.Gross Earnings of N208.528 billion was reported for the 12 months period, up by 4.56% from N199.439 billion reported the previous year.Profit after tax grew year on year by 6.54% to N20.89 billion from N19.61 billion reported the previous year.  Earnings per share of FCMB Group for the period under review stands at N1.06.At the share price of N3.04, the P/E ratio of FCMB stands at 2.88x with earnings yield of 34.71%. First City Monumental Bank, FCMB has reported a Profit After Tax (PAT) of N20.8 billion for the year 2021. This is according to an unaudited financial report filed to the Nigerian Exchange on the financial report of the bank.The amount represents a 53% increase from the N13.8 billion in the last quarter and a 6.5% rise from the N19.6 billion reported same period the previous year.Further analysis by Nairametrics shows that the bank generated the highest profit in the last quarter of the year at N7.09 billion more than N6.2 billion it generated in third quarter, N3.98 billion in second quarter and the N3.57 billion in the first quarter.Highlight of the result
Gross earnings stood at N208 billion, representing N4.5% dip at N9 billion from the N199 billion reported the previous year.
Net interest income at N90.47 billion fell slightly by N288 million in 2021 as that of the year 2020 was valued at N90.75 billion
Net fees and commission income rose significantly by 42%, reaching N27 billion from the previous year value at N19.7 billion. This was driven by fees commission income which rose to N35 billion from N30 billion and a consequent drop in commission expenses to N7 billion from N10 billion during the period.
Net trading income which recorded N7.1 billion in 2020 saw a trivial dip to close at N6.89 billion in 2021 while other revenue fell significantly to close at N3 billion from the N10.5 billion.
Notably, the bank was able to reduce the impairment losses on financial instruments greatly from N22.3 billion to N9 billion in 2021.
Personnel expenses increased in 2021 recording 31.2 billion compared to the 29.5 billion the same period in 2020 while general and administrative expenses also went the same route, recording N34.6 billion from the amount reported same time the previous year and other operating expenses was N23 billion in 2021 from N16.8 billion in 2020
Profit before tax totalled N23.926 billion and was cut down by minimum and income tax expenses at N900 million and N2.1 billion respectively causing the profit for the year to close at N20.9 billion in 2021
Earnings per share increased by 0.06 to close at N1.04 in 2021.
What this means
FCMB reported an impressive performance in 2021 as the bank was able to increase PAT despite the significant drop in revenue and improved expenses for the period. This is owing to the fact that it was able to minimize a loss on financial instruments by a whopping 59.3% from the previous year’s. Unilever Nigeria Plc reported its Q4 12-months unaudited Annual Financial Statement, revealing a 35.07% growth in revenue from N52.21 billion to N70.52 billion recorded in Q4 2021.The consumer goods company, reported a profit after tax of N3.48 billion, reflecting growth of 187.73% from a loss of N3.97 billion in the corresponding period of 2020.The financial statement revealed that gross profit during the period grew by 80.34% from N11.07 billion in 12-months of 2020 to N19.97 billion in the current period, while other income declined by 43.42% from N66.01 million up to N37.35 billion in 2021. Net profit for the period was subdued by some expense line items as revealed in the income statement.Brand and Marketing expenses in the period grew by 118.05%, from the prior-year period, influencing the decline in profit before tax and subsequently, net profit for the period. The expense on royalties and services amounted to approximately N2.11 billion in the period under review, as contained in the financial statement.During the quarter, other expenses that weighed down the net profit included selling and distribution expenses, finance costs and tax expenses.Unilever Nig Plc operates two segments; namely, Food Products and Home & Personal Care Segments. In the twelve months of 2021, the Home & Personal Care segment of the business has generated more revenue than the Food Products segment. The notes to account reveal that the food products and home & personal care generated N31.00 billion and N39.52 billion respectively.The company’s net assets increased by N3.81 billion from N62.13 billion recorded at the end of 2020 to N65.94 billion at the end of 2021. Total assets, however, increased by N18.36 billion from year to date.Unilever Nig Plc is currently trading at N13.05 per share and its market capitalization stands at N5.75 billion as of Wednesday, January 26, 2021. Year-to-date performance shows that the share price of the company has lost 2.61%.Send a mess


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