Company News Archives - Nairametrics https://nairametrics.com/category/companies/latest-nigerian-company-news/ Destination for Business news and analysis from Africa's largest economy Sat, 17 Aug 2024 12:39:22 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.5 https://nairametrics.com/wp-content/uploads/2021/08/cropped-cropped-favicon-1.png?resize=75,75 Company News Archives - Nairametrics https://nairametrics.com/category/companies/latest-nigerian-company-news/ 32 32 201037849 Union Bank records 138% profit growth for 2023 as restructuring plans continue https://nairametrics.com/2024/08/17/union-bank-records-138-profit-growth-for-2023-as-restructuring-plans-continue/ https://nairametrics.com/2024/08/17/union-bank-records-138-profit-growth-for-2023-as-restructuring-plans-continue/#respond Sat, 17 Aug 2024 09:13:02 +0000 https://nairametrics.com/?p=495983 Nigeria’s second oldest bank, Union Bank of Nigeria has reported a pre-tax profit of N71.8 billion in the 2023 full year, marking a 138% growth from the N30.2 billion posted in FY 2022.  

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]]> https://nairametrics.com/2024/08/17/union-bank-records-138-profit-growth-for-2023-as-restructuring-plans-continue/feed/ 0 495983 Standard Bank Group plans to increase 67.55% stake in Nigeria’s Stanbic IBTC Holdings https://nairametrics.com/2024/08/16/standard-bank-group-plans-to-increase-67-55-stake-in-nigerias-stanbic-ibtc-holdings/ https://nairametrics.com/2024/08/16/standard-bank-group-plans-to-increase-67-55-stake-in-nigerias-stanbic-ibtc-holdings/#respond Fri, 16 Aug 2024 11:43:38 +0000 https://nairametrics.com/?p=495946 The CEO of the Standard Bank Group has announced plans to increase its stake in the Nigerian bank, Stanbic IBTC Holdings. 

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]]> https://nairametrics.com/2024/08/16/standard-bank-group-plans-to-increase-67-55-stake-in-nigerias-stanbic-ibtc-holdings/feed/ 0 495946 Fidelity Bank “surpasses target”, raises over N127.1 billion in first phase of recapitalization effort   https://nairametrics.com/2024/08/14/fidelity-bank-surpasses-target-raises-over-n127-1-billion-in-first-phase-of-recapitalization-effort/ https://nairametrics.com/2024/08/14/fidelity-bank-surpasses-target-raises-over-n127-1-billion-in-first-phase-of-recapitalization-effort/#respond Wed, 14 Aug 2024 14:09:10 +0000 https://nairametrics.com/?p=495784 Fidelity Bank has surpassed the N127.1 billion target set in its combined offer programme, as the bank concludes the programme.  

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]]> https://nairametrics.com/2024/08/14/fidelity-bank-surpasses-target-raises-over-n127-1-billion-in-first-phase-of-recapitalization-effort/feed/ 0 495784 Access Holdings rights issue extended to August 23  https://nairametrics.com/2024/08/14/access-holdings-rights-issue-extended-to-august-23/ https://nairametrics.com/2024/08/14/access-holdings-rights-issue-extended-to-august-23/#respond Wed, 14 Aug 2024 07:08:56 +0000 https://nairametrics.com/?p=495749 Access Holdings has received the approval of the Securities and Exchange Commission to extend its ongoing rights issue programme to August 23.  

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]]> https://nairametrics.com/2024/08/14/access-holdings-rights-issue-extended-to-august-23/feed/ 0 495749 Zenith Bank promises higher dividend payout, as it gears for oversubscription in its N290 billion capital raise  https://nairametrics.com/2024/08/13/zenith-bank-promises-higher-dividend-payout-as-it-gears-for-oversubscription-in-its-n290-billion-capital-raise/ https://nairametrics.com/2024/08/13/zenith-bank-promises-higher-dividend-payout-as-it-gears-for-oversubscription-in-its-n290-billion-capital-raise/#respond Tue, 13 Aug 2024 13:27:49 +0000 https://nairametrics.com/?p=495705 Zenith Bank is promising an increased dividend payout to its shareholders despite the addition of over 8 billion shares through its ongoing combined offer.  

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]]> https://nairametrics.com/2024/08/13/zenith-bank-promises-higher-dividend-payout-as-it-gears-for-oversubscription-in-its-n290-billion-capital-raise/feed/ 0 495705 Dangote Refinery insists NUPRC not enforcing Petroleum Act on crude supply to local refineries   https://nairametrics.com/2024/08/09/dangote-refinery-insists-nuprc-not-enforcing-petroleum-act-on-crude-supply-to-local-refineries/ https://nairametrics.com/2024/08/09/dangote-refinery-insists-nuprc-not-enforcing-petroleum-act-on-crude-supply-to-local-refineries/#respond Fri, 09 Aug 2024 22:21:48 +0000 https://nairametrics.com/?p=495541 The management of Dangote Refinery has reaffirmed its stance that the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is not upholding the Petroleum Industry Act (PIA) regarding the domestic supply of crude oil to local refineries. 

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]]> https://nairametrics.com/2024/08/09/dangote-refinery-insists-nuprc-not-enforcing-petroleum-act-on-crude-supply-to-local-refineries/feed/ 0 495541 Airtel buys back 406,000 more of its own shares as second-quarter pre-tax profit soars by 133.6%  https://nairametrics.com/2024/08/08/airtel-buys-back-406000-more-of-its-own-shares-as-second-quarter-pre-tax-profit-soars-by-133-6/ https://nairametrics.com/2024/08/08/airtel-buys-back-406000-more-of-its-own-shares-as-second-quarter-pre-tax-profit-soars-by-133-6/#respond Thu, 08 Aug 2024 10:02:14 +0000 https://nairametrics.com/?p=495457 On August 7, 2024, Airtel Africa announced the purchase of more of its shares from Citigroup Global Markets as part of its share buyback program. 

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]]> https://nairametrics.com/2024/08/08/airtel-buys-back-406000-more-of-its-own-shares-as-second-quarter-pre-tax-profit-soars-by-133-6/feed/ 0 495457 MTN Nigeria renegotiates tower lease agreements with IHS and ATC, cuts dollar component  https://nairametrics.com/2024/08/07/mtn-nigeria-renegotiates-tower-lease-agreements-with-ihs-and-atc-cuts-dollar-component/ https://nairametrics.com/2024/08/07/mtn-nigeria-renegotiates-tower-lease-agreements-with-ihs-and-atc-cuts-dollar-component/#respond Wed, 07 Aug 2024 17:55:56 +0000 https://nairametrics.com/?p=495428 MTN Nigeria Communications Plc on Wednesday said it has renegotiated the binding commercial terms of the existing infrastructure sharing and master lease agreements with IHS and ATC Nigeria.

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]]> https://nairametrics.com/2024/08/07/mtn-nigeria-renegotiates-tower-lease-agreements-with-ihs-and-atc-cuts-dollar-component/feed/ 0 495428 Jumia unveils EUR 244 million Rights Issue to boost expansion  https://nairametrics.com/2024/08/07/jumia-unveils-eur-244-million-rights-issue-to-boost-expansion/ https://nairametrics.com/2024/08/07/jumia-unveils-eur-244-million-rights-issue-to-boost-expansion/#respond Wed, 07 Aug 2024 07:44:48 +0000 https://nairametrics.com/?p=495381 Jumia Technologies AG, the leading e-commerce platform in Africa, announced plans on Tuesday to raise EUR 244 million ($268 million) through a rights issue as part of its strategy to strengthen its financial position and fuel expansion efforts across the continent. 

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]]> https://nairametrics.com/2024/08/07/jumia-unveils-eur-244-million-rights-issue-to-boost-expansion/feed/ 0 495381 Kuda posted $32 million loss in 2022 amid increase in revenue, customer base   https://nairametrics.com/2024/08/06/kuda-posted-32-million-loss-in-2022-amid-increase-in-revenue-customer-base/ https://nairametrics.com/2024/08/06/kuda-posted-32-million-loss-in-2022-amid-increase-in-revenue-customer-base/#respond Tue, 06 Aug 2024 20:03:36 +0000 https://nairametrics.com/?p=495359 Nigerian neobank, Kuda, recorded a net loss of $32 million in 2022 according to its latest financial report filed in the UK. 

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]]> https://nairametrics.com/2024/08/06/kuda-posted-32-million-loss-in-2022-amid-increase-in-revenue-customer-base/feed/ 0 495359 Julius Berger’s pre-tax profit climbs by 12.08% in the second quarter of 2024  https://nairametrics.com/2024/08/05/julius-bergers-pre-tax-profit-climbs-by-12-08-in-the-second-quarter-of-2024/ https://nairametrics.com/2024/08/05/julius-bergers-pre-tax-profit-climbs-by-12-08-in-the-second-quarter-of-2024/#respond Mon, 05 Aug 2024 16:54:45 +0000 https://nairametrics.com/?p=495265 Julius Berger published its 2024 second-quarter results, revealing a pre-tax profit of N8.3 billion. 

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]]> https://nairametrics.com/2024/08/05/julius-bergers-pre-tax-profit-climbs-by-12-08-in-the-second-quarter-of-2024/feed/ 0 495265 Dangote Sugar posts N104.6 billion pre-tax loss in second quarter of 2024, amidst 140% rise in raw materials cost  https://nairametrics.com/2024/08/04/dangote-sugar-posts-n104-6-billion-pre-tax-loss-in-second-quarter-of-2024-amidst-140-rise-in-raw-materials-cost/ https://nairametrics.com/2024/08/04/dangote-sugar-posts-n104-6-billion-pre-tax-loss-in-second-quarter-of-2024-amidst-140-rise-in-raw-materials-cost/#respond Sun, 04 Aug 2024 07:58:12 +0000 https://nairametrics.com/?p=495169 Dangote Sugar posted a pre-tax loss of N104.6 billion in the second quarter of 2024, marking a 110% year-on-year decline from the N49.9 billion pre-tax loss posted in Q2 2023. 

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]]> https://nairametrics.com/2024/08/04/dangote-sugar-posts-n104-6-billion-pre-tax-loss-in-second-quarter-of-2024-amidst-140-rise-in-raw-materials-cost/feed/ 0 495169 MTN Nigeria’s CTO, Mohammed Rufai, appointed CEO of MTN Congo-Brazzaville   https://nairametrics.com/2024/08/02/mtn-nigerias-cto-mohammed-rufai-appointed-ceo-of-mtn-congo-brazzaville/ https://nairametrics.com/2024/08/02/mtn-nigerias-cto-mohammed-rufai-appointed-ceo-of-mtn-congo-brazzaville/#respond Fri, 02 Aug 2024 05:46:02 +0000 https://nairametrics.com/?p=495045 MTN Group has announced the appointment of MTN Nigeria’s Chief Technical Officer, Mohammed Rufai, as the Chief Executive Officer of MTN Congo-Brazaville. 

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]]> https://nairametrics.com/2024/08/02/mtn-nigerias-cto-mohammed-rufai-appointed-ceo-of-mtn-congo-brazzaville/feed/ 0 495045 AIICO’s pre-tax profit soars by 121.55% in the second quarter of 2024, backed by an upgrade  https://nairametrics.com/2024/08/01/aiicos-pre-tax-profit-soars-by-121-55-in-the-second-quarter-of-2024-backed-by-an-upgrade/ https://nairametrics.com/2024/08/01/aiicos-pre-tax-profit-soars-by-121-55-in-the-second-quarter-of-2024-backed-by-an-upgrade/#respond Thu, 01 Aug 2024 14:34:52 +0000 https://nairametrics.com/?p=494999 AIICO Insurance released its 2024 second quarter results, showing pre-tax profit increased 121.55% year-over-year from 6.3 billion reported in 2023. 

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]]> https://nairametrics.com/2024/08/01/aiicos-pre-tax-profit-soars-by-121-55-in-the-second-quarter-of-2024-backed-by-an-upgrade/feed/ 0 494999 Only 10% of our 2023 FX gains are realized – FCMB Group CEO   https://nairametrics.com/2024/07/31/only-10-of-our-2023-fx-gains-are-realized-fcmb-group-ceo/ https://nairametrics.com/2024/07/31/only-10-of-our-2023-fx-gains-are-realized-fcmb-group-ceo/#respond Wed, 31 Jul 2024 17:04:13 +0000 https://nairametrics.com/?p=494913 The Group CEO of FCMB Group, Ladi Balogun has stated that only about 10% of the bank’s foreign exchange gains recorded in 2023 are realized. 

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]]> https://nairametrics.com/2024/07/31/only-10-of-our-2023-fx-gains-are-realized-fcmb-group-ceo/feed/ 0 494913 Wema Bank Plc reports 270.71% growth in Q2 2024 pre-tax profit  https://nairametrics.com/2024/07/31/wema-bank-plc-reports-270-71-growth-in-q2-2024-pre-tax-profit/ https://nairametrics.com/2024/07/31/wema-bank-plc-reports-270-71-growth-in-q2-2024-pre-tax-profit/#respond Wed, 31 Jul 2024 09:36:20 +0000 https://nairametrics.com/?p=494850 Wema Bank Plc has reported its Q2 2024 results showing pre-tax profits grew by 270.71% year on year to N19.416 billion. 

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]]> https://nairametrics.com/2024/07/31/wema-bank-plc-reports-270-71-growth-in-q2-2024-pre-tax-profit/feed/ 0 494850 Lafarge Africa Plc posts 15.66% pre-tax profit in Q2 of 2024, fueled by new innovation  https://nairametrics.com/2024/07/31/lafarge-africa-plc-posts-15-66-pre-tax-profit-in-q2-of-2024-fueled-by-new-innovation/ https://nairametrics.com/2024/07/31/lafarge-africa-plc-posts-15-66-pre-tax-profit-in-q2-of-2024-fueled-by-new-innovation/#respond Wed, 31 Jul 2024 09:31:37 +0000 https://nairametrics.com/?p=494849 Lafarge Africa reported an increase in pre-tax profit for Q2 of 2024 at 37.9 billion, representing a 15.66% year-over-year rise. 

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]]> https://nairametrics.com/2024/07/31/lafarge-africa-plc-posts-15-66-pre-tax-profit-in-q2-of-2024-fueled-by-new-innovation/feed/ 0 494849 Presco Plc Posts N20.781 billion Pre-Tax Profit in Q2 2024 https://nairametrics.com/2024/07/30/presco-plc-posts-n20-781-billion-pre-tax-profit-in-q2-2024/ https://nairametrics.com/2024/07/30/presco-plc-posts-n20-781-billion-pre-tax-profit-in-q2-2024/#respond Tue, 30 Jul 2024 11:53:00 +0000 https://nairametrics.com/?p=494783 Presco Plc has reported a pre-tax profit of N20.781 billion for Q2 ending June 30, 2024, representing a 159.77% year-on-year (YoY) increase.

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]]> https://nairametrics.com/2024/07/30/presco-plc-posts-n20-781-billion-pre-tax-profit-in-q2-2024/feed/ 0 494783 Total Energies beats forecast, posts N13.730 billion pre-tax profit in Q2 2024  https://nairametrics.com/2024/07/29/total-energies-beats-forecast-posts-n13-730-billion-pre-tax-profit-in-q2-2024/ https://nairametrics.com/2024/07/29/total-energies-beats-forecast-posts-n13-730-billion-pre-tax-profit-in-q2-2024/#respond Mon, 29 Jul 2024 18:59:54 +0000 https://nairametrics.com/?p=494733 Total Energies Marketing Nigeria Plc has reported a pre-tax profit of N13.730 billion for Q2 ending June 30, 2024, reflecting a 95% year-over-year increase and surpassing its Q2 pre-tax forecast of N6.419 billion.  

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]]> https://nairametrics.com/2024/07/29/total-energies-beats-forecast-posts-n13-730-billion-pre-tax-profit-in-q2-2024/feed/ 0 494733 International Breweries records N61.8 billion pre-tax loss in Q2, 2024  https://nairametrics.com/2024/07/29/international-breweries-records-n61-8-billion-pre-tax-loss-in-q2-2024/ https://nairametrics.com/2024/07/29/international-breweries-records-n61-8-billion-pre-tax-loss-in-q2-2024/#respond Mon, 29 Jul 2024 18:48:46 +0000 https://nairametrics.com/?p=494732 International Breweries Plc posted its financial result for the second quarter of 2024, recording a pre-tax loss of N61.81 billion.

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]]> https://nairametrics.com/2024/07/29/international-breweries-records-n61-8-billion-pre-tax-loss-in-q2-2024/feed/ 0 494732