Morning Beats

Custodian and Allied grows profit by 37% to N7.3b

Custodian and Allied Plc witnessed significant improvement in its profitability in 2017 as the group’s profit after tax rose by 37 per cent from N5.3 billion in 2016 to N7.3 billion in 2017. Gross revenue increased from N38.55 billion in 2016 to N43.05 billion in 2017.The Nation

NSE fines African Alliance N46.1m for late account submission

Firm records N21b negative reserve The Nigerian Stock Exchange (NSE) has imposed a fine of N46. 1 million on African Alliance Plc for breaking its rule on account submission. According to NSE X-Compliance Report, released on April 12, 2018, the  fine is for late submission of its 2015 and 2016 audited accountsThe Nation

Fidson Healthcare increases dividend payout by 300%

The Board of Directors of Fidson Healthcare Plc has approved a 300 per cent increase in dividend payout for the 2017 business year as the healthcare company grew its net profit by 238 per cent during the year.The Nation

Nigerian Breweries explains 100% dividend payout

Nigerian Breweries, one of five largest companies listed on the Nigerian Stock Exchange and pioneer largest brewing company in Nigeria, has explained that its decision to pay out its entire net profit after tax as cash dividend to shareholders demonstrated its strong performance and confidence over its operations.The Nation

LafargeHolcim increases stake in Lafarge Africa

LafargeHolcim-the world leader in building materials and majority foreign core investor in Lafarge Africa Plc, has increased its equity in the Nigerian subsidiary to 76.32 per cent to control the much-needed three-quarters percentage shareholdings necessary for major corporate changes.The Nation

AIICO posts N5b increase in gross premium

AIICO  Insurance  Plc  has posted an increase in its gross premiums from N27.06 billion in the 2016 financial year to N32.1 billion in 2017.The Nation

Bargain hunting activity to continue this week

CAPITAL market operators have said that low prices of value stocks will increase the likelihood of bargain hunting in the stock market this week.Vanguard

Dangote Flour, others, boost wheat production

In a bid to boost the country’s self-sufficiency in wheat production, Flour Milling Association of Nigeria (FMAN), made up of Dangote Flour Mills, Flour Mills of Nigeria, Honeywell Flour, Dufil, and Life Flour have donated 50 units of multi-crop thresher machine worth N70 million to Wheat Farmers in the countryVanguard

Central Kenya bears heaviest burden of the elderly population

The old-age dependency ratio in central Kenya is the highest nationally, new data showed, an indication of a rapidly rising elderly population and its huge burden on the productive population in the region.Business Daily

Oando shareholders call for finance minister’s sacking

Shareholders of Oando Plc have asked President Muhammadu Buhari to immediately sack the Minister of Finance, Mrs. Kemi Adeosun, for what they describe as “her unwholesome interference” in the nation’s capital market.Punch

Dangote seeks private sector-led health care trust fund

The President, Dangote Group, Aliko Dangote, has reiterated the need for private sector operators to commit one per cent of their annual profits to funding health care services in the country.Punch

Nigeria to save N129.4bn on wheat importation in 2019

Nigeria may save $422.9m (N129.4bn) from importation of wheat next year, going by projections from farmers and other stakeholders that local production of the produce will increase to two million metric tonnes.Punch

CBK raises red flag over public debt after Sh202bn Eurobond

The Central Bank of Kenya (CBK) has warned that there is less headroom for external borrowing even as it disclosed that it wired Sh202 billion ($2 billion) of proceeds of Eurobond II from Citi Bank in New York to the Treasury account in Kenya on March 12, 2017.Business Daily