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Investors Lose N34.88bn as NGXASI Dips Further by -0.14%; Maintains Negative Posture

Equities market closed on a negative note, as NGXASI depreciated by -0.14% to close at 47,296.07 basis points as against -0.26% depreciation recorded previously. Its Year-to-Date (YTD) return currently stands at +10.72%.        

Market breadth closed negative as ABCTRANS led 11 Gainers as against 33 Losers topped by RTBRISCOE at the end of today’s session an unimproved performance when compared with previous outlook.         

Market turnover closed negative as volume moved down by -13.04% as against -24.45% downtick recorded in the previous session. TRANSCORP, MTNN and NGXGROUP were the most active to boost market turnover.  MTNN and NGXGROUP topped market value list.

REDSTAREX leads the list of active stocks that recorded impressive volume spike at the end of today’s session.

NGXGROUP Plc Declares N2.25bn PAT in Q4 2021 Results,(SP:N23.10k)

NGXGROUP Plc released its Q4 2021 Audited results for the period ended December 31st, 2021.

Key Highlights

  • Revenue grew by 14.9% from N5.03bn to N5.78bn
  • Profit before tax stood at N2.40bn
  • Profit after tax stood at N2.258bn
  • Share Price Currently Stands at N23.10k

12 mths AUDITED REPORT FOR PERIOD ENDED 31 DEC

 2021 N’m2020 N’m% Change
 DECDEC 
Revenue5,7775,02814.9%
PBT2,4011,90925.8%
Taxation(146.055)(70.266)107.9%
PAT2,2481,83922.2%

                        BALANCE SHEET INFORMATION

Net Asset34,11431,2769.1%

 

Young Nigerian pilots lament ‘pay to fly’

A number of young Nigerian pilots seeking employment have a new challenge to contend with as some airlines are demanding that they pay to get trained and type-rated on certain aircraft before they are employed. BusinessDay investigations also show that after paying to get type-rated, some of the pilots.

Oil hits $118, highest level in 9yrs

Oil shot to its highest level in more than nine years Thursday and wheat prices climbed above $11 a bushel for the first time since 2008, amid indications that Russian forces had seized the city of Kherson in southern Ukraine. Brent crude rose as much as 4.7 per cent to $118.22 a barrel, the highest level since February.

Rep stop bill to repeal NSIA act, transfer funds to Finance Ministry

The House of Representatives on Thursday rejected the bill, seeking to repeal the Nigeria Sovereign Investment Authority (NSIA) and transfer its assets and liabilities to the Ministry of Finance Incorporated.

FG grants US request for Abba Kyari’s extradition

The United State’s request to extradite Abba Kyari, the embattled deputy commissioner of Police, has been approved by the federal government, reports are saying. Abubakar Malami (SAN), the Attorney-General of the Federation and Minister of Justice, made this known in an application filed

Why ASUU strike will soon end – Chris Ngige

Chris Ngige, the minister of labour and employment has stated that based on the federal government’s deliberations with the Academic Staff Union of Universities (ASUU), there is hope the one-month warning strike will end soon.

Petrol marketers lament supply shortage as queues worsen

As fuel scarcity continued to hit Nigerians and businesses hard on Wednesday, marketers under the aegis of the Independent Petroleum Marketers Association of Nigeria (IPMAN) have lamented the inability to get petrol supply from depot owners.

Wheat production drops despite FG’s funding, surging demand

Wheat production in Nigeria fell by more than 38 percent in five years despite the surging demand for the commodity in Africa’s most populous country and the billions of naira spent by the federal government to boost output.

Mr. Tokunbo Bello Resigns as Executive Director of Cornerstone Insurance Plc

Cornerstone Insurance PLC wishes to inform the Nigerian Exchange Limited (NGX), its esteemed Shareholders, and the public of the resignation of one of its Executive Directors- Mr. Tokunbo Bello effective from the 31st of January 2022.

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First Ideas Limited is an investment and financial advisory company established in 1994 to provide advisory services to high net worth individuals, trust funds, financial institutions and medium sized companies in growth sectors.

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