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Tripple Gee PAT Grows By 18%, To Pay N25m Dividend

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Tripple Gee & Company Plc has announced a growth of 17.7 per cent in profit after tax (PAT) for the year ended March 31, 2019 and has recommended a dividend of N24.75 million for shareholders.

In the audited results, Tripple Gee, which produces security documents, financial instruments and stationery, posted revenue of N784.795 million in 2019, up by 5.7 per cent from N742.56 million recorded in 2018. Cost of sale went up from N545 million in 2018 to N581 million in 2019. Distribution and administrative expenses stood at N170 million, compared with N146 million in 2018. PAT improved to N27.613 million as against N23.45 million in 2018.

Based on the performance, the board of directors has recommended a dividend of N24.75 million, which translates to five kobo per share, up from three kobo per share in 2018.

Tripple Gee is a manufacturer of financial instruments, secure and commercial documents, labels and flexible packaging materials. Its range of products and services are instrumental across industry sectors from the banking industry, government regulatory bodies and oil and gas to pharmaceuticals and fast moving consumer goods manufacturers.

According to the company, with over 37 years in the print business and a solid track record working with financial institutions, big organisations and governments to research, evolve and improve the security and quality of transactional and commercial instruments and other substrate based prints, it has continuously delivered significant return on investment to its shareholders, customers and the community in which it operates.

Tripple Gee mission is to locally manufacture and sell quality paper and paper related products of the highest global standards nationally and regionally.

“This we aim to achieve by building a motivated, professional and competent work force while delivering good return on investment to our shareholders and demonstrating corporate social and economic responsibility,” the firm emphasised.

Continued Sell-Offs Drag Benchmark Index… NSE ASI down 0.3%

Meanwhile, the bearish trading at the stock market extended to the fourth day yesterday as the Nigerian Stock Exchange (NSE) All-Share Index dipped by 0.26 per cent to close at 29,300.09, while market capitalisation shed N33.1 billion to close at N12.9 trillion.

Trading level was mixed as volume traded dipped 24.1 per cent to 108.4 million shares while value rose 5.0 per cent to N2.0 billion. The top traded stocks by volume were Lafarge Africa Plc (50.0 million shares), Access Bank Plc (23.3 million shares) and United Bank for Africa Plc (20.2 million shares).

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Bidvest Bank trading profit rises 3.5% to R6.7bn

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The Commercial bank in the Republic of South Africa trading, distribution and services group Bidvest said recently its trading profit for the year ended June 30 rose 3.5 percent to R6.7 billion despite flat revenue.

Headline earnings per share were up 9.8 percent to 1,352.1 cents and the company said exceptional cost and capital discipline as well as improved margins were highlights against a volatile trading backdrop.

The CEO Bidvest Bank Lindsay Ralphs said, “There has been a strong focus on our clients, on solutions, innovation, wholesaling the right product at the appropriate price point as well as bolt-on acquisitions in the services and office & print divisions, which has culminated in acceptable growth.”

The group declared a final cash dividend of 318 cents per share, bringing the total dividend for the year to 600 cents, up 7.9 percent from last year.

Strong profitability gains were achieved at Adcock Ingram while Comair recognised the successful claim awarded against South African Airways, which increased Bidvest’s share of profits from these associated companies.

Bidvest said its diverse portfolio of businesses and extensive reach allowed it to weather challenging times.

“Our basic-need services and everyday essential product ranges enable us to support and add value to all our stakeholders. Innovation to disrupt ourselves, and the industries in which we operate, remains a core focus alongside disciplined asset management and cost control,” Ralphs added.

 

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Guinness Nigeria Declares N5.5bn Profit, N3.3bn Dividend

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A leading beverage alcohol firm in Nigeria Guinness Nigeria, recently announced a profit after tax (PAT) of N5.483 billion for the year ended June 30, 2019, compared with N6.718 billion. The profit was actualized from a revenue of N131.498 billion as against N142.975 billion in 2018.

Net financing income fell from N3.443 billion to N1.862 billion, while profit before tax (PBT) was N7.103 billion, down from N9.943 billion in 2018. The board of directors has recommended a dividend of N3.329 billion.

Commenting on the result, the Managing Director, Guinness Nigeria Plc, Mr. Baker Magunda, stated that the company would continue to work on all operating indices while expecting that the micro and macroeconomic parameters improve.

Magunda mentioned that: “Revenue for the year declined 8% compared to same period last year on the backdrop of an extremely challenging macroeconomic and competitive environment. The cost of the increase in excise duty at a time of stagnant consumer disposable income had to be absorbed by industry players. Despite the tough competitive landscape, we continue to see good growth performance from Guinness, Spirits and the malt drinks.”

According to him, a combination of factors, inflation plus prior year royalties and accruals not approved by NOTAP, led to a 17 per cent decline in gross profit for the organisation.

Magunda explained that “Marketing spend reduction by 16 per cent and distribution costs initiatives partly mitigated the gross profit decline, thus leading to a fall in operating profit by N4.4 billion. Profit before tax decreased by N2.8 billion as a 46 per cent reduction in net finance costs further helped to cushion the decline in operating profit,”

Also speaking on the performance, Chairman of the company, Mr. Babatunde Savage, said: “As a board, we are confident that our strategy is sound, and that we are making the right investments in the company to ensure our long-term competitiveness. The Board will continue to support the management in its efforts to build a business that aims to consistently deliver growth for stakeholders.”

The company noted that despite the challenges, it continues to fulfill its commitment to stakeholders particularly as it drives its renewable energy and water recovery project for sustainable environment.

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Zenith Bank grows profit to N111.7bn, in H1’19

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Nigeria’s leading financial service Zenith Bank Plc has announced profit before tax (PBT) of N111.7billion and proposed interim dividend of 30 kobo per share for the half-year ended June 2019 (H1’19).

This was disclosed by the bank in its audited financial results for H1’19 released recently which showed improved performance in key financial indicators.

In a statement announcing the results, the bank said: “Gross earnings grew by three percent from ¦ 322.2 billion to ¦ 331.6 billion driven by a significant growth of 24 percent (YoY) in non-interest income from ¦ 88.6 billion in H1 2018 to ¦ 109.7 billion in H1 2019.”

It further said: “In particular, fees from electronic products increased by ¦ 17 billion (168 percent) from ¦ 10 billion in H1 2018 to ¦ 27 billion in H1 2019, demonstrating significant progress in our retail banking initiatives.”

“This top-line growth filtered through to the bottom-line as Profit Before Tax (PBT) increased to¦ 111.7 billion reflecting a four percent growth over ¦ 107.4 billion reported in H1 2018 with earnings per share (EPS) increasing by nine percent to ¦ 2.83 in H1 2019 from ¦ 2.60 compared to the prior period.” It added.

 

 

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