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Goldlink Insurance, Beco Petroleum pledge profitability in 2010

December 1, 2009

BARELY one month to the end of the year, quoted firms on the Nigerian Stock Exchange (NSE) are still putting structures in place aimed at improving their financial performance in 2010.

Specifically, Goldlink Insurance Plc forecasts gross premium of N1.3 billion and profit after tax of N411.9 million during the first quarter ending March 31, 2010.

Also, Beco Petroleum Products Plc in its report to the council of the NSE, said the company has concluded plans to generate a turnover of N1.7 billion and profit after tax of N112.1 million during the half year ending January 31, 2010.

On its part, TRIPPLE GEE & Company Plc, is to record not less than N 1.65 billion turnover and profit after tax of N47.04 billion for the first quarter ending March 31,2010:

Consolidated Hallmark Insurance Plc said the company has forecast gross premium of N4.5 billion and profit after tax of N703.25 million during the full year ending December 31, 2010.

Meanwhile, First City Monument Bank (FCMB) Plc forecasts gross earnings of N11.9 billion and profit after tax of N5.7 billion during the third quarter ending December 31, 2009.

Equity Assurance Plc is to generates gross premium of N782.54 million and profit after tax of N302.7 million during the fourth quarter ending December 31, 2009.

On the other hand, for the third quarter ended September 30, 2009, Chevron Oil Nigeria Plc has declared N54.3 billion against N36.2 billion recorded within the same period in 2008.

Profit after tax, according to the company, went up from N314.7 million in 2008 to N1.3 billion as at September 30, 2009.

Information made available to the NSE recently, also explained that Pharma Deco Plc in its 2008 financial report declared turnover of N1.1 billion as against N790.4 million recorded in 2007, while loss after tax stood at N198 million compared with N242.3 million in 2007.

The yearly general meeting of the company is scheduled to hold in Lagos, on December 14, 2009.

UAC Plc's unaudited result for the third quarter ended September 30, 2009, also indicated a turnover of N42 billion as against N39.3 billion in the comparable period of 2008, while AG Leventis Nigeria Plc announced unaudited result of N10.7 biliion turnover for the third quarter ended September 30, 2009, as against N8.2 billion in the comparable period of 2008.

Profit after tax stood at N919.81 million compared with N807.4 million in 2008.

The Guardian Newspapers, Tuesday December 1, 2009.


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