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Oasis declares N387m gross income in three months
August 4, 2009

OASIS Insurance Plc has declared an increase in its gross income from N160.4 million in the first quarter of 2008 to N387.05 million in the corresponding period ended March 2009.

The company, within the period under review, also made a profit after tax of N88.7 million compared to N81.3 million in 2008.

Oasis explained in a statement to the Nigerian Stock Exchange (NSE) that income/loss dropped from N118.3 million to N15.6 million.

Despite the drop in income, investors were urged to continue to invest in the company's stocks as they have a lot to benefit at the end of the year from both capital appreciation and dividend that may come owning to the positive outlook in the result.

Meanwhile, UAC of Nigeria Plc, has projected a turnover of N42.4 billion and a profit after tax of N2.8 billion for the third quarter ending September 30, 2009, while UAC Nigeria Property Development Company Plc projected a turnover of N11.1 billion and a profit after tax of N1.8 billion for the third quarter ending September 30, 2009.

Similarly, Bank PHB Plc has forecasted gross earnings of N172.9 billion and a profit after tax of N15.2 billion for its 15 months ending September 30, 2009.

Benue Cement Company Plc projected a turnover of N42.9 billion and a profit before tax of N15.4 billion during the third quarter ending September 30, 2009. The company also forecasted a turnover of N59.6 billion and a profit before tax of N22.2 billion for the fourth quarter ending December 31, 2009.

Furthermore, Chemical and Allied Products Plc, has forecasted a turnover of N2.0 billion and profit after tax of N347.9 million for its third quarter ending September 30, 2009.

For BOC Gases Plc, the company projected a turnover of N1.5 billion and a profit after tax of N158.62 million for the third quarter ending September 30, 2009. The company forecasted a turnover of N1.9 billion and a profit after tax of N248.05 million during the fourth quarter ending December 31, 2009.

Starcomms Plc also projected a revenue of N8.5 billion and loss after tax of N980 million for the third quarter ending September 30, 2009.

Cornerstone Insurance Plc on the other hand, projected a gross premium of N1.4 billion and a profit after tax of N123.25 million for the third quarter ending September 30, 2009.

The Guardian Newspaper, Tuesday August 4, 2009

 

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