By Peter Egwuatu
Unilever Nigeria Plc has recorded turnover of N19.4 billion in its unaudited interim report for the quarter ended 31st March 2021, (Q1’21) , representing a growth of 46 per cent from N13.3 billion recorded in the corresponding quarter of 2020, Q1’20.
In the results released to the Nigerian Exchange Group, NXG, the Company recorded a gross profit of N4.5billion for the Q1’21 which is 31 per cent up from N3.4billion reported for same corresponding period in 2020.
Overall, Unilever recorded loss after tax of N.5 billion for the quarter under review compared to profit after tax of N1.1billion reported for the corresponding period in 2020.
Commenting on the results, MD/CEO of Fidelity Bank, Nneka Onyeali-Ikpe said: “We commenced the year showing impressive double-digit growth in profitability and improved performance across key efficiency indices whilst ensuring our business model continued to deliver strong positive results in line with our guidance for the 2021 financial year.
“Gross Earnings increased by 7.7% to N55.1bn on account of 66.7% growth in non-interest revenue to N12.1bn from N7.2bn in Q1 2020.”
She said the increase in net interest revenue (NIR) came from foreign exchange related income, digital banking income and account maintenance charge etc. as total customers’ induced transactions across all its service channels increased by 30.4% YoY and 17.1% QoQ.
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The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS/Afolabi Sotunde
ABUJA (Reuters) - The Nigerian Exchange Group quoted 1.9 billion shares on the over-the-counter market NASD on Wednesday at 25 naira each, giving it a valuation of 47.5 billion naira ($125 million), exchange data showed.
The listing makes the Nigerian bourse Africa’s second to be listed after the Johannesburg Stock Exchange.
It began changing its ownership structure from a mutual company of stockbrokers in 2017, adding new shareholders in a process known as “demutualisation”.
It then re-registered as a profit-making entity, owned by shareholders, called the Nigerian Exchange Group Plc, after being a not-for-profit entity.