status of results from audited companies on the nse - 310512

7/31/2019 Status of Results From Audited Companies on the NSE - 310512

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Status of Quoted Companies on 2011 Audited Results

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Status of Results from Quoted Companies iro their 2011 Audited ResultsMay 23, 2012/ Proshare Research

On February 27, 2012 to be precise, The Exchange (NSE) released a list of 119 (One

Hundred and Ninety-Nine) active listed entities on the main bourse whose financial yearend is December 31.

As at the period stated above, Nestle Nigeria Plc was the first and only quoted companyin this category to release its 2011 Audited Accounts as its financial information waspresented to the market on February 21, 2012 while the other 118 companies areexpected to submit their Audited Accounts by March 31, 2012.

(http://proshareng.com/reports/4696)

In accordance with the Post listings Requirements, the Audited Accounts are due for

filing on or before March 31, 2012.

In April 2012, The Exchange (NSE) extended the filing date of these set of companiesbecause of the downtime experienced at the beginning of the year arising from the fuel

subsidy removal protests and its impact on the business activities of listed entities. TheNSE gave all these companies a two-week reprieve/grace which elapsed on Friday,April 13, 2012.

The Exchange (NSE) further exercised limited discretion by extending the filing date byanother two weeks effective April 16, 2012 to April 27, 2012, for companies to regularizetheir filings while penalties will be imposed 0n filings that are made after 12.00 p.m. on

Monday April 30, 2012. (http://www.proshareng.com/news/16954).

We present herewith a status of developments to date.

2011 Audited Results Thus Far

As at Friday 18th May, 2012, the analysis of quoted companies with December Year Endshows that out of ninety-three (93) quoted companies that have declared its 2011Audited Results, seventy-two (72) quoted firms declared positive PAT representing 77%of the total figure while twenty-one (21) declared negative PAT representing theremaining 23%.

Sixteen (16) have yet to declare their results.

With ninety-three (93) quoted firms resulted released out of the 187 first tier equities

listed on the main board, results for ninety-four (94) firms may begin to hit the market

anytime soon.


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Total No No of Coys with Positive PAT No of Coys with Negative PAT

93 72 21

No of Companies that have declared 2011 Audited Results

Source: Proshare Research/NSE

Companies with Positive and Negative Results

Out of the ninety-three (93) quoted firms that have released its Audited Results,Dangote Cement Plc has the largest positive PAT figure ofN125.9billion and closely

followed by GTBank and First Bank of Nigeria Plc with N52.6bilion andN44.7billion in that order while Starcomms Plc led the table with negative PAT figureswith N-17.5billion and closely followed by Forte Oil and Diamond Bank Plc with N-15.5 bilion and N-11.2 billion respectively.

In the top ten positive PAT category, Dangote Cement Plc from Industrial Goods sectorled the chart while five banks make the list with GTBank Plc have the highest figure. The

negative PAT category was led by Starcomms Plc with three banking stocks also makingthe chart while stocks from Oil & Gas, ICT and Consumer Goods sector completes thechart.

CompaniesTop Positive PAT

(N'm)Companies Top Negative PAT (N'm)

Dangote Cement Plc 125,909 Starcomms Plc -17,564

GTBank Plc 52,654 Forte Oil Plc -15,584

First Bank of Nigeria Plc 44,785 Diamond Bank Plc -11,254

Zenith Bank Plc 44,189 First City Monument Bank Plc -9,915

Nigerian Breweries Plc 38,025 United Bank for Africa Plc -9,647

Nestle Nigeria Plc 16,808 Champion Breweries Plc -1,825

Access Bank Plc 16,708 Chams Plc -1,236UAC of Nigeria Plc 10,202 Deap Capital Mgt. & Trust Plc -760.35

Lafarge Cement Plc 8,509 Secure Electronics Technology Plc -602.17

Stanbic IBTC Bank Plc 7,440 Omatek Ventures Plc -414.59

Companies that have declared their 2011 Audited Results


2011 Audited Results by Sector

The analysis of the audited results released by sectors shows that 25 quoted firms in theFinancial Services sector have released their results (representing 42% of the total 59

firms listed in the sector). Other leading sectors are the Consumer and Industrial Goodssectors with 14 and 12 quoted firms releasing their results - representing 44% and 48%respectively. See Full Table Below


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SectorsNo of Listed Coys in the

Sector

No of Coys that have released

Audited Results %

Financial Services 59 25 42%

Consumer Goods 32 14 44%

Industrial Goods 25 12 48%

Services 23 1043%

Oil & Gas 14 7 50%

ICT 10 6 60%

Healthcare 11 5 45%

Agriculture 5 4 80%

Construction/Real Estate 11 4 36%

Conglomerates 5 3 60%

Natural Resources 7 2 29%


The agriculture sector appears to be the most compliant with 80% of thecompanies in the sector submitting their results, closely followed by the ICT and

Conglomerates sectors which returned 60% compliance rate respectively.

In the Banking sub-sector, Union Bank Plc is one of the firms that is yet to release its2011 audited results its latest results so far being its Q3 2011 results.

In the insurance sub-sector, Goldlink Insurance is yet to release its 2011 Audited resultwith Q3 2011 result also being the latest result.

Audited Results and Firms Listed Between 2008 & 2010

Between 2008 and 2010, forty (40) quoted companies were listed on the Nigerianbourse. Out of the forty (40) firms, eighteen (18) have so far released their auditedresults with thirteen (13) declaring positive PAT figures while the remaining five (5)

declared negative PAT figures.

DangoteCement Plc, GTAssure and Capital Hotel Plc top the firms with positive PATwhile Starcomms, Chams and Omatek Ventures Plc top those with negative PAT

results. Listed firms such as Daar Communications Plc, MTI Plc, African AllianceInsurance Plc, and Unity Kapital Assurance Plc are yet to release their 2011 Auditedresult with their last released figures being 2010 Audited, Q3 2010, 2010 Audited and Q32011 respectively.

CompaniesPositive PAT

(N'm)Companies

Negative PAT

(N'm)

Dangote Cement Plc 125.909 Starcomms Plc (17,564)

GTAssure Plc 931.574 Chams Plc (1,236)

Capital Hotel Plc 581.177 Omatek Ventures Plc (414.586)

Fidson Healthcare Plc 312.257 FTN Cocoa Processors Plc (221.032)

Consolidated Hallmark Insurance Plc 258.761 Beco Petroleum Plc (168.661)

Courtville Business Solutions Plc 245.352

Portland Paints Plc 156.885

NPF Microfinance Bank Plc 132.639

Paints & Coatings Manufacturers Plc 122.969

Tantalizers Plc 101.869 Positive 13

eTranzact International Plc 81.286 Negative 5

Multiverse Resources Plc 25.569 Total 18

McNichols Consolidated Plc 6.019

Companies Listed between 2008 and 2010 that have released Audited Results

Number by PAT Status



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2011 Audited Results and Corporate Actions

A look into the return on investment (ROI) on quoted firms that have released their2011 audited results reveals that out of the ninety-three (93) firms, only forty-seven(47) firms declared dividends; only two (2) declared bonuses while five (5) declared bothdividends and bonuses within the different categories representing 87%, 2% and 9%

respectively.

No of Dividends No of Bonuses Dividends & Bonuses

47 2 5

Companies that have declared Dividends & Bonuses


Insurance Subsector & 2011 Audited Results

Further analysis on the Insurance subsector shows that only ten (10) quoted firms havereleased their 2011 audited results so far. All these firms declared a positive PAT figure.

Out of these list Custodian & Allied Insurance, NEM Insurance and AIICO Insurance Plcled the chart with N1.40bn, N1.34bn and N1.33bn in that order.

Companies Positive PAT (N'm)

Custodian & Allied Insurance Plc 1,400

Nem Insurance Plc 1,343

AIICO Insurance Plc 1,332

GTAssure Plc 931.57

Sovereign Trust Ins. Plc 704.11

Intercontinental Wapic Ins. Plc 290.53

Consolidated Hallmark Insurance Plc 258.76

Prestige Assurance Plc 255.99

Lasaco Assurance Plc 128.22

Oasis Insurance Plc 106.39

Positive 10

Negative 0

Total 10

Firms in Insurance Sub-Sector that have released Audited Results

Sub-Sector by PAT Status

Source:Proshare Research/NSE

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status of results from audited companies on the nse - 310512

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