Results & Dividends

AIICO 9M 2019: Growth in Net Profit Hits Five-Year High

Culled—Proshare November 14, 2019 Meristem Research Life Business Expansion underpins Growth in Gross Premium Income  Gross premium earned advanced by 37.13% YoY to NGN35.56bn (vs. NGN25.93bn in Q3:2018), driven by the extensive distribution network of the firm. The firm’s life insurance segment was the most significant contributor to premium growth; […]

MAYBAKER 9M 2019: Margins Improve Despite Revenue Contraction

Culled—Proshare November 14, 2019 Meristem Research   Pharmaceutical Revenue Takes a Hit MAYBAKER reported a decline in its top-line of 9.57% to NGN5.92bn (vs. NGN6.54bn in 9M:2018). The pharmaceutical unit (which contributes c.98% to total revenue) recorded a revenue of NGN5.86bn in 9M:2019, 6.95% lower than in 9M:2018. The decline is […]

SEPLAT: Earnings Quality Undermined by Missed Output, Oil Shocks

Culled—Proshare November 14, 2019 Meristem Research Crude and Gas Production Disappoint For the third time this year, SEPLAT has missed its production and revenue targets. 9M:2019 topline was down by 12.57% Y-o-Y to NGN151.88bn (9M:2018: NGN173.71bn). Standalone Q3:2019 revenue printed at NGN42.91bn, weaker by 37.74%, compared to NGN68.92bn at this time last […]