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Intercontinental Bank Plc post 125 percent profit.

Smart Products Nigeria Plc, One of the second-Tier securities traded on the Nigerian Stock Exchange in the group categorised as ‘emerging market sector’ of the market, recently proposed a 7.50 Kobo dividend, with closure date of its register for this purpose scheduled for between 25th June to July 8th 2008. This information is contained in her fully audited result for the year ended December 31st 2007. The company, who’s major business is the processing of palm oil is likely going to progress into the Agro-allied sector of the market as a first-Tier security if it continues to grow in capital and further meets the stringent listing requirements.

Other features in the positive result includes: A Profit After Taxation of N3.865 million as against a year 2006 comparable periods figure of N2.359 million, indicating a 63.46 percent increase in distributable profit; a Profit Before Taxation of N4.759 million as against a year 2006 comparable periods N3.489 million; while the company also recorded a Turnover figure of N12.545 million as against a previous year comparable periods N10.555 million figure.

Another result that reached the market this week was that of Scoa Nigeria plc. Scoa submitted her unaudited second quarter result for the year ended 30th June 2007. The Profit After Tax was N777.245 million as against a previous year 2006 figure of N20.200 million, making a woping 3747 percent increase in distributable profit money, was recorded within the accounting period. The extra-ordinary increase was largely due to an Exceptional item which the company disclosed to be due to the disposal of an idle property. Other features in the result includes a Profit Before Tax of N827.245 million as against a previous comparable year’s figure of N20.200 million; also a Turnover figure of N1.321 billion was recorded as against a previous comparable periods N1.255 billion.

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