halfyear

FBN Holdings built a more than threefold surge in net profit for the first half of the year on an unusual boost in gains from financial instruments. The financial services group recorded the gains at a time other lenders are leveraging spikes in interest rates to drive profits and growth. Details of its earnings report issued on Thursday showed that the group posted a net profit of N187.2 billion, compared to N56.6 billion a year ago. Adesola Adeduntan, CEO of the group’s flagship division First Bank, described…

Last Updated: November 10, 2022, 18:52 ISTImage used for representation. (Photo: Emirates)Emirates carried 20 million passengers between April and the end of SeptemberThe group owning long-haul carrier Emirates saw record-breaking half-year profits of USD 1.2 billion this year, the company announced on Thursday, as global travel resumes after the lockdowns of the coronavirus pandemic. The results from the Emirates Group represent a major turnaround after posting a USD 1.6 billion loss in the same period last year.…

United Bank for Africa (UBA) delivered a larger bottom line of N70.3 billion for the year’s first half with improvement in the cash earned through interest particularly to thank for it as well as that derived from other key income sources. The audited financial report of Nigeria’s fourth biggest lender issued Thursday shows gross earnings totalled N375.8 billion, meaning revenue was 18.9 per cent bigger when viewed in proportion to the figure recorded a year earlier. Interest in UBA’s shares on Thursday was at…

Guaranty Trust Holding Company (GTCO) saw an appreciable advance in top line for the year to June as all its income sources but other income expanded, according to the audited earnings report of Nigeria’s second biggest by market capitalisation issued on Monday. But the growth could not propel profit as two bugbears – galloping tax spend and other operating expenses – gnawed away at income at a time inflation in Nigeria was touching new highs. GTCO, more than half of whose revenue and profit was contributed by…

Stanbic IBTC Holdings Plc reported for the first half of the year an increase of more than one-third in its after-tax of N30.7 billion compared to a year earlier, according to its audited financial statement issued Tuesday. The local unit of Africa’s biggest bank by assets, Johannesburg-based Standard Bank Group, posted an improvement of 45.2 per cent in gross earnings, which summed up to N134.9 billion, most of that provided by non-interest earnings. Stanbic IBTC Holdings’s share price opened at N28 per unit in…

Nigeria’s biggest public company by revenue, MTN Nigeria Communications Plc (MTNN), earned N950.1 billion in revenue for the first half of the year, reflecting a one-fifth increase over what it reported in the corresponding period of last year. Shares in the corporation gained 5.3 per cent on Friday following the news. With voice, the wireless carrier’s predominant income source only improving 1.4 per cent, real help came for revenue growth by way of data income as it advanced by more than a half or N119.7…

FBN Holdings, the parent company of Nigeria’s oldest financial institution FirstBank, posted a post-tax profit of N56.5 billion at mid-year, its earnings report showed Friday, a level never before seen since it transfigured into a holdco more or less a decade ago. That was enabled by an expansion by two-fifths in interest income to N226.4 billion, which itself dominantly aided the 22.4 per cent boost in revenue. The financial services group’s gross earnings for the period was N359.3 billion, which compares with…

Aliko Dangote-backed salt-maker NASCON Allied Industries Plc attained its peak half-year revenue level since the company launched approximately half a decade ago in 1973 as the corporation crossed N25 billion in sales for the six months to June. The turnover, 43 per cent greater than the figure reported a year earlier, derived its growth elementally from goods sold to northern Nigeria, which besides contributing as much as 67.9 per cent to company’s pool of sales expanded N6.2 billion on its own this time…

United Capital’s revenue for the first half of the year rose to N9.1 billion after jump in earnings from fees & commission and other income, which alone enlarged by nearly 12 times the figure reported a year ago, the earnings report of the investment bank showed on Monday. Revenue was three times bigger than the N6.9 billion per cent posted for the corresponding period of last year, according to the document seen by PREMIUM TIMES. Shares in the financial services firm had climbed up by 1.52 per cent as of…