Economy
Nigerian Breweries Gains N6.9bn in 9 Months, to Pay 25 Kobo Dividend
By Dipo Olowookere
The board of Nigerian Breweries Plc has proposed the payment of 25 kobo as interim dividend for the nine months ended September 30, 2020.
The cash reward, according to the board, shareholders whose names appear in the register of members as at the close of business on November 20, 2020, and have completed the e-dividend registration and mandated the registrar, First Registrars and Investor Services Limited, to pay their dividends directly into their bank accounts.
In a notice, the brewer said the register of members will be closed from November 23 to 27, 2020, and on December 1, 2020, the dividend will be paid electronically to beneficiaries.
In the first nine months of this year, Nigerian Breweries recorded a slight decline in revenue and this was mainly caused by the lockdown in the country in the second quarter of the year to control the spread of COVID-19, a global health pandemic still ravaging Europe and America but has subsided in Africa.
In the financial statements of the company analysed by Business Post, the net turnover dropped to N234.0 billion from N235.7 billion and in the third quarter alone, the revenue rose to N82.2 billion from N65.5 billion in the same period of last year.
Most economic activities resumed in the third quarter of the year in Nigeria after the government shut down most businesses in late March, especially in the sectors where products of Nigerian Breweries and others are consumed like event centres, hotels, bars and others.
The results further showed that the cost of sales in the first nine months of the year jumped to N144.1 billion from N139.5 billion, while the gross profit slipped to N90.0 billion from N96.2 billion.
Marketing and distribution costs stood at N52.2 billion versus N57.5 billion, while the administrative expenses closed in Q3 at N15.9 billion in contrast to N14.3 billion.
While the finance costs went up to N11.7 billion from N8.2 billion, the finance income dropped to N216.5 million from N228.6 million, leaving the net finance costs bleeding by N11.5 billion like in the corresponding period of last year, though lower at N8.0 billion.
Though in the third quarter alone, Nigerian Breweries returned to profitability but in the first nine months of the year, the profit was lower than the same period of last year.
The pre-tax profit for Q3 was N2.6 billion as against the N2.2 billion loss in Q3 2019, while the nine months PBT dropped to N11.0 billion from N17.2 billion.
In Q3 2020, the firm recorded a post-tax profit of N1.4 billion as against a post-tax loss of N1.0 billion in Q3 2019, while the net profit for nine months stood at N6.9 billion versus N12.3 billion in the comparative period.
The earnings per share (EPS) ended the period under consideration at 89 kobo compared with N1.53 it ended a year ago.
By Aduragbemi Omiyale
The suspension earlier placed on Thomas Wyatt Nigeria Plc by the Nigerian Exchange (NGX) Limited has been lifted.
This action was taken on Wednesday, allowing investors to resume trading in the shares of the company, a pioneer paper conversion and printing firm in Nigeria.
Recall that on February 11, 2025, the stock market regulator suspended trading in the equities of Thomas Wyatt because of its inability to publish its financial statements for the year ended March 31, 2024.
The embargo on the organisation, according to the NGX, was in line with the provisions of Rule 3.1: Rules for Filing of Accounts and Treatment of Default Filing (Default Filing Rules).
Business Post reports that the rule requires the regulator to prohibit the buying and selling of the company’s securities on its platform “If an issuer fails to file the relevant accounts by the expiration of the cure period.”
However, before the suspension if effected, the NGX must have sent the defaulting firm “a second filing deficiency notification” within two business days after the end of the cure period.
After the suspension of trading in the issuer’s securities, the NGX must “notify the Securities and Exchange Commission (SEC) and the market within 24 hours.”
In a statement last Wednesday, the stock exchange informed the market that “Thomas Wyatt Nigeria has now filed its audited financial statements for the year ended March 31, 2024, and other outstanding unaudited financial statements for 2024.”
“In view of the company’s submission of its 2024 AFS, and pursuant to Rule 3.3 of the default filing rules, which states that the suspension of trading in the issuer’s securities shall be lifted upon submission of the relevant accounts provided the exchange is satisfied that the accounts comply with all applicable rules of the exchange. the exchange shall thereafter also announce through the medium by which the public and the sec was initially notified of the suspension, that the suspension has been lifted, trading license holders and the investing public are hereby notified that the suspension placed on trading on the shares of Thomas Wyatt Nigeria Plc was lifted on Wednesday, June 18, 2025,” the notice stated.
By Dipo Olowookere
There was an improvement in the level of activity at the Nigerian Exchange (NGX) Limited last week, with 3.566 billion stocks worth N115.403 billion exchanging hands in 99,960 deals compared with the 2.057 billion stocks valued at N51.015 billion traded a week earlier in 65,016 deals.
It was observed that the financial services sector was the most active with 2.166 billion shares sold for N62.046 billion in 45,851 deals, contributing 60.73 per cent and 53.76 per cent to the total trading volume and value, respectively.
The consumer goods industry traded 580.893 million equities valued at N10.896 billion in 10,909 deals, and the services counter exchanged 193.300 million shares worth N2.449 billion in 6,306 deals.
The trio of Zenith Bank, Champion Breweries, and Access Holdings accounted for 1.003 billion stocks valued at N26.076 billion in 14,232 deals, contributing 28.14 per cent and 22.60 per cent to the total trading volume and value, respectively.
In the five-day trading week, 55 equities appreciated like the preceding week, 42 shares depreciated versus 39 shares of the previous week, and 51 stocks closed flat, in contrast to 54 stocks of the previous week.
Ellah Lakes gained 23.09 per cent to sell for N5.33, Beta Glass appreciated by 19.43 per cent to N276.00, LivingTrust Mortgage Bank improved by 18.88 per cent to N6.80, GTCO advanced by 18.81 per cent to N84.95, and Meyer rose by 13.61 per cent to N9.60.
Conversely, Northern Nigeria Flour Mills lost 17.19 per cent to trade at N93.20, Sunu Assurances depleted by 12.81 per cent to N4.56, Oando tumbled by 11.59 per cent to N61.00, International Energy Insurance crashed by 9.55 per cent to N1.61, and Omatek deflated by 7.59 per cent to 73 Kobo.
Business Post reports that the All-Share Index (ASI) and the market capitalisation appreciated by 2.35 per cent and 2.40 per cent to close the week at 118,138.22 points and N74.534 trillion, respectively.
Similarly, all other indices finished higher except the industrial goods and sovereign bond indices, which fell by 0.36 per cent and 0.78 per cent apiece, while the AseM index closed flat.
By Dipo Olowookere
The last trading session of the week on the floor of the Nigerian Exchange (NGX) Limited ended on a positive note on Friday with a 0.24 per cent rise.
During the trading day, the market capitalisation of Customs Street was up by N175 billion to N74.534 trillion from the N74.359 trillion recorded on Thursday.
In the same vein, the All-Share Index (ASI) of the local bourse increased by 277.09 points to 118,138.22 points from 117,861.13 points due to sustained bargain-hunting by investors in the banking and commodity sectors.
Data showed that the banking index went up by 1.65 per cent and the commodity sector appreciated by 0.75 per cent.
However, the insurance industry weakened by 1.07 per cent, the industrial goods space lost 0.76 per cent, and the consumer goods and energy counters fell by 0.16 per cent each.
Legend Internet grew by 10.00 per cent to sell for N7.92, Ellah Lakes appreciated by 9.90 per cent to N5.33, Champion Breweries expanded by 9.63 per cent to N8.20, Guinea Insurance rose by 8.70 per cent to 75 Kobo, and eTranzact gained 7.52 per cent to settle at N7.15.
On the flip side, Sunu Assurances declined by 8.62 per cent to N4.56, Northern Nigeria Flour Mills lost 8.00 per cent to trade at N93.20, Thomas Wyatt moderated by 7.83 per cent to N2.00, Livestock Feeds retreated by 6.90 per cent to N8.10, and NEM Insurance contracted by 5.03 per cent to N17.00.
A total of 487.1 million units of shares worth N18.7 billion exchanged hands in 17,421 deals yesterday compared with the 894.0 million units of shares valued at N22.0 billion transacted in 17,257 deals in the previous day, indicating an improvement in the number of deals by 0.95 per cent, and a contraction in the trading volume and value by 45.52 per cent and 15.00 per cent, respectively.
The busiest stock for the session was Fidelity Bank, which traded 38.3 million units valued at N741.5 million, CWG exchanged 25.0 million units for N230.8 million, Zenith Bank transacted 24.9 million units worth N1.2 billion, Coronation Insurance sold 24.4 million units valued at N48.7 million, and Access Holdings traded 23.6 million units worth N517.9 million.
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