HENATES

02-10-2015 Nigerian Enamelware PLC to pay 45k per share dividend. 23-10-2015 Con Oil annual general meeting at Uyo, Akwa Ibom state. 26-10-2015 AXA Mansard Insurance to pay 3k per share interim dividend to shareholders on register by October 13. 30-10-2015 Rak Unity Petroleum PLC to hold annual general meeting at Alausa Ikeja. Lagos state. 02-11-2015 Con Oil to pay one Naira per share dividend 02-11-2015 Rak Unity Petroleum PLC to pay 30 kobo per share dividend.

Management experts, public or private, tell us that to lead a team or people successfully, you must not only have sterling leadership qualities, you must also know how to hide your weaknesses. They recommend, for example, that to be a good manager of men and materials, you must be prepared to source for or develop aids who are strong where you are weak. One hopes Nigeria's President Muhammadu Buhari subscribes to this. Sure, the President is strong in executive finger pointing. Aided by fellow General Tunde Idiagbon way back in 1984 during his first coming, he demonstrated this very well as Nigerians alive then were made to believe absolutely, that overthrown Shehu Shagari's regime was rotten and corrupt. Then we heard and we believed that a Chief Adisa Akinloye, the chairman of Shagari's ruling party was so corrupt that he  had bottles of wine labelled with his name, manufactured. We also heard and we believed that Shehu Shagari's super minister, Umaru Dikko was s...

At times like this in Nigeria when depression hovers, says the Central Bank of Nigeria, help from any where is welcome. That of course is one testimony Forte Oil Nigeria PLC can comfortably give today based on interim figures for the half year to June 2015. According to the brief released to the stock market recently, Forte Oil by June recorded a positive net financial cost of N494.9m compared to a  net loss of N338m at the same time in 2014. This turned out to be manna of a kind. This 246.4 per cent recovery added to 111.1 per cent increase in Other Income to N1573.7m to help the company cushion hard to bear operational cost pressure. This came principally from 75.9 per cent rise in administration costs to N5939.1m. This was at a time turnover dropped by 23.2 per cent to N61168m from June 2014's N78606.8m. A drop which accompanied by a higher 25 per cent increase in cost of sales and distribution expenses that refused to also go down as fast as turnover red...

It looks like Okomu Oil Palm PLC lost some steam in the second quarter of the current year thus slowing down the pace of the first quarter. According to figures released to the stock exchange recently, in the three months to June 2015 (that is second quarter) Okomu oil recorded a drop in turnover to N2567.7m as against N3039.6m within the same period in 2014. However, in spite of this, turnover for the half year which includes first and second quarters, rose marginally by 2.5 per cent to N4991.4m from N4869.5m previously. The same thing occurred even with cost pressure. It was more intense in the second quarter. Thus the company's cost of sale grew by 56 per cent in the second quarter compared to final 25.3 per cent for the half year. However, the good news was that Okomu Oil did better with overall cost management in the second quarter. Hence operating expenses dropped by 37.8 per cent in the second quarter even though final drop for the whole half year came to only 20.7 per c...

The main headache for Guinness Nigeria PLC in the financial year to June 2015 was that of runaway overhead costs. Sure, the times are trying presently in Nigeria but Guinness Nigeria still managed to grow its turnover by 8.52 per cent to 11b.5 Billion Naira (N) from N109.2 Billion in 2014 financial year. It also successfully held down growth in cost of producing the goods for sale to 8.12 per cent to N62.6bn from N52.9bn. The ache came from distribution and marketing costs which closed the year to June at N40.9bn up 13,9 per cent on 2014 level. That is well ahead of the growth recorded in turnover. In addition, finance costs applied more pressure when it rose to N4.87bn; 9.68 per cent higher that year 2014's N4.44bn. In the end, the company' profit margin (gain on each N100 sale recorded) dropped to 9.11 per cent compared to 2014's 10.7 per cent. THUS: * In the current financial year to June 2016, Guinness may have to find a way to cage these overheads to stay as prof...

May & Baker Nigeria PLC is apparently on top of the tough times in the Nigerian economy engendered by dropping crude oil prices. That is, if its half year figures to June 2015 are anything to go by. According to the release to the Nigerian stock market recently, by June 2014 closed with a loss of about  N5.23 on every N100 sale recorded. However, by June this year, the tide turned in its favour. It ended June 2015 with N1.28 profit on each N100 sale. First it grew its turnover by 10.7 per cent to 3,408.7m Naira and successfully held growth in cost heads to less than the turnover increase. Cost of sale increased by only 6.73 per cent to 2249.4m Naira from 2107.5m at the same time in 2014 while distribution and marketing costs grew by 8.04 per cent to 583.2m, More significant though was the 7.06 per cent decrease in Administration expenses within the half year which highlights more the battle won over cost pressure so far. Less outside the company's control but with the same s...

Here are the things Henates will always try to do for you: 1. Simplify financial and economic   analysis in easy to digest manner. 2. Make it easier for all, including non-accounting and finance professionals to make their own investment decisions especially in the Nigerian stock market. 3. Offer pointers to future possibilities given today's policies and enabling environment in Nigeria. 4. Follow your lead in making changes in both its content and format to suit your expectations.

There are things Henates will not do for you: 1. It will not tell you which shares and stocks to buy in Nigeria 2. It will not feature gossips. 3.It will not pass judgement on any public or private action or non-action. 4. It will not aim to be the most popular blog on the block. 5. It will not showcase technical terms only understood by a few professionals.

Hello, Welcome to Henates, the site dedicated to analysing financial markets; corporate results; stock market; feasibility and Business events and news. From Monday September 27th, it takes off fully with brief and crisp analyses of corporate results released to the Nigerian stock exchange in recent days with daily updates from then on. A week after,  we will feature an  analysis of a major sector of the Nigerian economy; public policy or market. This will feature at least once a month from then on. Also, coming on will be news about Nigerian business people especially as the corporate boardroom doors revolve and major public administrators take a bow. Then there will be shots in the arm trend analysis especially as discerned from figures emanating from the stock market. Of course, for starters, there will also be weekly review and analysis of the stock market. On the table is my years of experience as financial reporter and editor particularly as the pioneer stock marke...