Fidelity Bank declares profits, dividends

Fidelity Bank declares profits, dividends

Thursday, March 31, 2016 9:34 am

Fidelity Bank Plc has released its audited account for last year showing a profit before income tax of 14.02 billion naira. In 2014, PBT was  15.52 billion naira year ago

The bank gross earnings  however increased from N136.09 billion to of 146.89 billion naira. Full year  net interest income also jumped to  60.86 billion naira from 48.83 billion naira year ago

The bank has declared a  dividend of 16 kobo per share and fixed  payment date for May 5, after the AGM.

Okomu Oil Palm Company Plc has also shown PAT almost doubling from N1.329 billion in 2014 to N2.697 billion in 2015.

The company’s revenue grew to N 9.74 billion  and earnings per share also increased from N1.39 in 2014 to N2.76 last year.

Chemical And Allied Products Plc  also posted revenue of 7.06 billion naira versus 6.99 billion naira year ago . The firm’s pre-tax profit increased to 2.57 billion naira from 2.44 billion naira year ago.

CAP Plc and Okomu Oil have not announced what they will pay out to investors.

Despite the positive results  declared by these firms, transactions on the Nigerian Stock Exchange (NSE) on Wednesday for the second consecutive days remained on a negative trend with the market indices dropping further by 0.52 per cent.

The All-Share Index lost 132.01 points or 0.52 per cent to close at 25,145.28 against 25,277.29 recorded on Tuesday.

Similarly, the market capitalisation which opened at N8.694 trillion shed N45 billion to close at N8.649 trillion following price depreciation.

The Chief Operating Officer, InvestData Consulting Ltd., Mr Ambrose Omordion, said that investors were reacting to unimpressive 2015 audited results released in the market.

Omordion said that new earnings reports that hit the market after the Easter break were not impressive, which further depressed the market.

An analysis of the price movement chart indicated that Nigerian Breweries recorded the highest price loss dropping N4.83 to close at N107 per share.

Guinness came second with a loss of N3.18 to close at N105.75, while PZ lost N1.19 to close at N22.71 per share.

UACN shed 48k to close at N20 and Zenith Bank dipped 35k to close at N10.96 per share.

Conversely, Seplat topped the gainers’ table with a gain of N10 to close at N310 per share.

Lafarge Africa garnered N2 to close at N79, while Dangote Cement also appreciated by N2 to close at N164.05 per share.

7UP grew by N1.41 to close at N153, while Flour Mill gained 86k to close at N99.40 per share.

The volume of shares traded appreciated by 78.36 per cent with an exchange of 504.21 million shares valued at N2.14 billion traded in 3,374 deals.

This was in contrast with a turnover of 282.70 million shares worth N1.34 billion achieved in 3,225 deals on Tuesday.

Livestock Feeds emerged the most traded equity with 100.34 million shares valued at N107.38 million.

It was followed by Sterling Bank with 70.59 million shares worth N111.53 million, while UAC Property sold 65.69 million shares valued at N122.67 million.

FCMB Group accounted for 40.24 million shares worth N35.22 million and FBN Holdings exchanged 37.69 million shares valued at N115.46 million.

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