COMPANY NEWS: BERGER PAINTS, GUINNESS,

BERGER PAINTS OUTSOURCES DEPOTS.

Nigeria's pioneer paints manufacturer, Berger Paints PLC, has decided to outsource its depots across the country to independent operators.
According to a notice sent to the Nigerian stock exchange, thereafter it will also appoint franchises in various other locations.
This is an attempt to improve on its bottom line and efficiency apart from enhancing product availability nation wide.
Also, decades after pioneering paints manufacture in Nigeria, company executives hinted that Berger Paints will this year commission the first automated paint manufacturing plant in sub Saharan Africa.
Berger paints was incorporated in 1959 but commenced business in 1961 importing paints for sale.
It eventually ended up setting up the first paint factory in Nigeria and has since been a major producer of various types of paints and related products.

GUINNESS NIGERIA: BOARD CHANGES

A new company Secretary has been appointed for Guinness Nigeria in addition to a new non-executive director.
The new secretary is Mr Rotimi Odusola who relieved Mr Sedan Sobowale who hitherto combined this with his primary duties as Corporate Relations director.
Before joining Guinness in 20@4 Odusola  was senior manager Commercial law MTN Communications ltd after stints as Snr Associate with Aluko and Oyebode, law practice.
On the other hand, the new non-executive director of Guinness Nigeria is none other than Dr Omobola Johnson, erstwhile minister for communication technology.
She is an alumnus of Universities of Manchester, London and Cranfield.
She started her professional career in 1985 in the London office of Arthur Andersen/Andersen consulting becoming a partner in 2000 with responsibility for financial services.

Comments

Post a Comment

Popular posts from this blog

NAIROBI SE's HIGH PRICED EQUITIES.

In the wake of Nigeria's high priced quoted companies posted in this blog a while ago, Henates took a look to at Nairobi Securities Exchange June 23 official list to identify its high priced equities and the outcome was interesting too. Of the 66 companies quoted on the market by June 23, 15 or 22.7% were valued averagely at above 30 times nominal value. A word of caution though: There are two clear differences between the Nigerian stock market list and that of Nairobi: In the Nigerian one most listed companies have par or nominal value of N0.50 as is there is an implied agreement on this. On the other hand, at Nairobi most of the equities do not share common par value, they differ greatly. Then another thing, Nigerian equities are not valued below par, Nairobi ones can and many are so valued. Of the top 15 high priced equities at the Nairobi market, Safaricom topped with because by June 23, at 23.25 Ksh average price, it was valued 465 times its nominal value of just 0.0...
Read more

2018: TWO BLOWS TO UNITED CAPITAL PLC.

When a child who in a previous examination scored 80%, comes home with a new report in which he now scores 67.2%, the parents have a right to sit him down and ask how come. So it must be between Nigeria's United Capital Plc and its discerning shareholders since the release of the company's 2018 audited figures. In 2018, all said and done, says the annual report, United Capital ended with 67.2 % profit margin compared to 80.2% in 2017. How come? What comes across from the figures was that the company received 2 blows to the jugular in 2018: Sharp drops in Investment income and fair value gain. Investment income dropped by 10.8% to N4422.8m from N4965.2m while fair value on financial assets plunged by 79.7% to N6.173m from 2017's N30.387m. In view of both drops, the group's gross earnings grew by only 33.9% to N9259.4m despite strong growths in net trading income, and net operating income leap to N757.5m from N143.5m  Other income streams ended with single digit increase....
Read more

JAN 9, 2019: TREND CONTINUES AT GHANA STOCK EXCHANGE

On Wednesday, January 9 2019, the up one day, down next trend noticed at the Ghana Stock Exchange since this year continued with the Composite Index rising from 2581.46 to 2582.70. The trend had started with drop in GCI on first trading day January 2 and continued till Tuesday's marginal decline as only one equity recorded price change and downwards. The Wednesday rally was underpinned by 3 price gains and one drop. The leading gain was GHs 0.03 per share by Trust Bank ltd of Gambia as it also recorded top trade for the day. TBL's leading 119,200 shares were traded with last deal at GHs 0.26 per share compared to GHs 0.23 close on Tuesday. However, closing  bid was at GHs 0.20 per share thus hinting at possible further drop ahead although it will take a matching offer price to make this happen  The 2 other price gains were GHs 0.01 per share each. CAL Bank recorded deals for 8300 shares with the last deal and closing price at GHs 1 per share, compared to GHs 0.99 previously. Wh...
Read more