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Nigerian stock market update for 20 January,2009.

The Nigerian Stock Exchange continued on its current bearish trend, as data from the NSE trade engine indicated a 1.57 percent drop in its ‘All Share Index’ (ALSI) down to 26,247.84 basis points, from yesterday’s 26,667.09 basis points. There were a total of 8,495 stock transactions, involving a share volume of 467,391,389 units, worth N1.868 billion; as against yesterday’s 7,987 stock transactions, involving a share volume of 247,720,959 units, worth N1.714 billion.
The market capitalisation closed downwards at approximately N5.840 trillion, as against yesterday’s closing valuation of N5.993 trillion.
The market would be watching to see how the new president of the United States of America, Barack Obama and his much talked about positive change would affect the rather ailing world’s largest economy (USA), and the after effect on the global economy, which is expected to in turn bring some relief to the currently dwindling fortunes of the Nigerian Stock Exchange, and other emerging capital markets.

Deap Capital, this morning presented to the market, its full year result for the accounting period ended 30th November, 2008; which showed an 11.44 percent appreciation in its ‘Profit After Tax’.
While, PZ’s yesterday release of a positive earnings result with an 8.61 percent ‘Profit After Tax’ growth, saw its price appreciate by 70 Kobo.

The top price gainers in a descending order includes: (1) OANDO gained N1.99 to close at N73.99; (2) GUINNESS gained N1.75 to close at N76.00; (3) PZ gained N0.70 to close at N14.70; (4) while UACN gained N0.68 to close at N27.98.
The top price losers in a descending order includes: (1) LONGMAN which lost N1.31 to close at N25.07; (2) FLOURMILL lost N1.19 to close at N22.71; (3) WAPCO lost N1.01 to close at N19.37; while (4) BCC lost N0.99 to close at N18.95.

Recent results, plus Longman’s 2 for 1 bonus proposal
Posted: 20 Jan 2009 08:26 AM PST
Deap Capital, this morning released its full year result for the accounting period ended 30th November, 2008. The ‘Turnover’ rose to N1.334 billion, as against a year 2007’s comparable periods posting of N739.450 million. A ‘Profit Before Tax’ figure of N396.07 million was recorded, as against preceding comparable period’s N331.130 million. While, the ‘Profit After tax’ rose to N343.847 million, as against a preceding comparable period’s loss position of N308.545, showing an 11.44 percent growth.
Meanwhile, the company directors have proposed a dividend of 15 Kobo payable on the 9th day of February, 2009. The closure of register is on the 19th of March, 2009.

Yesterday, PZ Plc listed under the conglomerate sector of the Nigerian Stock Exchange, made a presentation of its earnings result for the half year period ended 30th November 2008, to the market. It made a ‘Turnover’ of N35.860 billion, as against preceding comparable periods N29.953 billion. The ‘Profit Before Taxation’ rose to N2.340 billion, as against preceding N2.013 billion. While, ‘the Profit After Taxation’ also climbed to N1.476 billion as against, preceding comparable periods N1.359 billion, indicating an 8.6 percent growth in company’s net profit.

Also, Longman Nigeria Plc has declared a bonus issue of 2 for 1, for which the closure of register is on the 22nd of January, 2009. Meanwhile, the company’s annual General Meeting is scheduled for the 27th of same January, 2009.

Fidson healthcare plc releases results, pays 20 kobo dividend.
Posted: 20 Jan 2009 03:46 AM PST
Health care and pharmaceutical giant, Fidson plc showed significant improvement in its financial year end results just made available to the exchange. It released its full year results for the period ended June 30, 2008 and its first quarter for the period ended September 30, 2008.
Turnover for the full year grew from N3.3 billion in 2007 to N4.5 billion in 2008. After tax profit however experienced a decline due to payment of taxation which the company was exempted from in 2007 from N505.3 million in 2007 to N189.3 million in 2008. Paid up capital increased from N89.2 million in 2007 to N750 million in 2008, while shareholders’ fund moved from N1.43 billion to N4.965 billion.
The company has proposed a dividend payment of 20 kobo per share which is a 7 kobo difference over the 13 kobo it last paid.

For the first quarter ended 30th September, 2008 it posted a turnover of N1.15 billion over the N617 million recorded in the same period of 2007. Profit after tax grew from N35 million in 2007 to N138 million in 2008.

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