Views: Visits 9 By Peter Egwuatu The COVID-19 pandemic has affected the performance of Chemical and Allied Products Plc (CAP), in the first quarter of 2021, Q1’21, though its operating expenses, OPEX, improved by 258 bases points, bps or 23.3 per cent from 25.8 per cent in the corresponding period of 2020, Q1’20. A review of the Company’s unaudited results released to the Nigerian Exchange Group, NXG, for the first quarter ended March 31, 2021 showed that the revenue of N2.1 billion was lower than Q1’20 by 9.5 per cent while the gross profit was N703 million, a decline by 39.9 per cent against N1.167 billion in Q1’20 with gross margin of 33.5 per cent.
By Peter Egwuatu
The COVID-19 pandemic has affected the performance of Chemical and Allied Products Plc (CAP), in the first quarter of 2021, Q1’21, though its operating expenses, OPEX, improved by 258 bases points, bps or 23.3 per cent from 25.8 per cent in the corresponding period of 2020, Q1’20.
A review of the Company’s unaudited results released to the Nigerian Exchange Group, NXG, for the first quarter ended March 31, 2021 showed that the revenue of N2.1 billion was lower than Q1’20 by 9.5 per cent while the gross profit was N703 million, a decline by 39.9 per cent against N1.167 billion in Q1’20 with gross margin of 33.5 per cent.
Covid-19 pandemic deflates CAP’s Q1 performance amid improvement in operating expenses
On
By Peter Egwuatu
The coronavirus, COVID-19 pandemic has affected the performance of Chemical and Allied Products Plc (CAP) , in the first quarter of 2021, Q1’21, though its operating expenses, OPEX improved by 258 bases points, bps or 23.3 per cent from 25.8 per cent in Q1’20.
A review of the Company’s unaudited results released to the Nigerian Exchange Group, NXG for the first quarter ended March 31, 2021 showed that revenue of N2.1 billion was lower than Q1’20 by 9.5 per cent. The gross profit was N703 million, a decline by 39.9 per cent as against N1.167 billion in Q1’20 with gross margin of 33.5 per cent. Operating expenses better managed with opex/ sales of 23.3 per cent, an improvement of 252 basis points from 25.8 per cent in Q1’20.
Half Year Trading Update
Zambia,
The Group announces that for the year ending
30 September 2021, revenue (reported in USD) is expected to be inline with current market expectations. However, EBITDA, EBIT and adjusted Profit Before Tax are now expected to end 20% - 30% ahead of current market expectations (all reported in USD).
Despite the difficult operating environment resulting from the 2020 economic and Covid-19 related uncertainties, the encouraging first half period performance has been driven by a focus on revenue optimisation. The macroeconomic relative stability witnessed in the first half year period is expected to continue during the second half. The exchange rate has depreciated at a much slower rate while monetary supply in the economy has steadily improved. The good rainfall season and the commissioning of power projects is expected to help alleviate the load shedding situation and positively impact on performance in the second half of the financial year.
By Goddy Egene
UAC of Nigeria Plc (UAC) has announced its audited results for the year ended December 31, 2020, showing a profit of N3.927 billion as against a loss of N9.256 billion in 2019.
The top-line showed a revenue of N81.357 billion, up by three per cent to N79.202 billion in 2019. Profit before tax stood at N5.121 billion in 2020, while PAT printed at N3.927 billion.
Earnings per share was 92 kobo compared with negative 183 kobo in 2019. The board of directors therefore recommended a dividend of 120 kobo. It comprises 65 kobo ordinary and 55 kobo special dividend.
Commenting on the results and corporate actions, Group Managing Director, Fola Aiyesimoju, stated: “UACs objective is to generate attractive long-term, risk-adjusted returns for our shareholders. I am delighted that the board approved N7.1 billion in capital returns to shareholders via a mix of dividends and REIT units totalling N2.47 per share or a 28.3 per cent return at current market values.