Earnings Broadcast |

Dangote Cement Profit Rises as Price Gains Offset Lower Volumes

LAGOS (Capital Markets in Africa) – Dangote Cement Plc, Africa’s largest producer of the building material and Nigeria’s biggest company, said first-quarter profit rose 34 percent as a price increase offset lower volumes sold and operations on the rest of the continent helped bolster sales. Net income increased to 70.6 billion naira ($220 million) in the three months through March, compared with 52.8 billion naira a year earlier, the Lagos-based company said in a statement on Friday….

FirstRand First-Half Profit Rises 13% After Bank Boosts Lending

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – FirstRand Ltd., Africa’s biggest bank by market value, said fiscal first-half profit rose 13 percent after lending increased and its insurance operations sold more policies. Net income increased to 11.89 billion rand ($904 million) in the six months ended Dec. 31, from 10.48 billion rand a year earlier, the Johannesburg-based company said in a statement on Thursday. The interim dividend rose 10 percent to 1.19 rand a share, exceeding growth in so-called…

Nigerian Breweries Profit Falls as FX Shortage Adds to Costs

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Nigerian Breweries Plc, the local unit of Heineken NV, said full-year profit declined 26 percent as a shortage of foreign exchange hampered the import of raw materials and increased the cost of doing business. Net income declined to 28.4 billion naira ($90 million) fin 2016 from 38 billion naira the previous year, the Lagos-based company said in a statement published on the Nigerian Stock Exchange’s website on Monday. Cost of sales…

Mauritius sugar producer Alteo H1 pretax profit jumps 116 pct

Posted on by The Editorial Team

PORT LOUIS (Capital Markets in Africa) – Mauritius sugar producer Alteo’s pretax profit rose 116 percent to 1.36 billion rupees ($38.42 million) in the six months to December 31 helped by higher sales and favourable prices, the firm said on Tuesday. Alteo is the largest sugar miller on the Indian Ocean island. It also has interests in property development and hotels. In a statement, the firm said “enhanced production capacities in Tanzania and Kenya and…

Standard Bank Rises as African Units Boost First-Half Profit

Posted on by The Editorial Team

Johannesburg, South Africa, Capital Markets in Africa: Standard Bank Group Ltd. gained the most in more than a week after first-half profit from continuing operations at Africa’s largest lender by assets climbed, boosted by higher interest rates in its home market that boosted income, and as fees from the rest of the continent increased. The stock led advances among the biggest lenders on the six-member FTSE/JSE Africa Banks Index, rising 1.8 percent to 145.11 rand by 10…

Nestle Nigeria Sees Margins Pressured as Inflation Weighs

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: Nestle Nigeria Plc, a unit of the world’s biggest food company, will struggle to maintain profit-margin growth in 2016 as the highest inflation in nearly 11 years and a lack of foreign currency stalls the economy in Africa’s most populous country. “We haven’t seen the bottom” of the downturn, Chief Executive Officer Dharnesh Gordhon, 51, said in an interview in the commercial capital, Lagos, on Aug. 10. A shortage of…

Guaranty Trust Bank First-Half Profit Jumps 45% on Currency Gain

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: Guaranty Trust Bank Plc, Nigeria’s largest lender by market value, said first-half profit rose 45 percent as foreign-currency gains in the wake of the naira’s devaluation compensated for a surge in bad-loan charges. Net income climbed to 77.5 billion naira ($237 million) from 53.4 billion naira year ago, Lagos-based Guaranty said in a statement on Wednesday. The lender made foreign-exchange revaluation gains of 61.2 billion naira, compared with 6.9 billion…

1 2 »