QUARTER RESULTS: ARBICO PLC's POINTER TO GREAT 2016.

ARBICO PLC: POINTER TO GREAT 2016?

From the look of things, Arbico PLC had a great first quarter. Could this be a pointer to a great 2016?
May be. Or so the unaudited figures for the quarter indicate gleefully.
According to the results, phenomenal growth was recorded in core revenue to N1567m compared to N501.5m during the first quarter of 2015.
Better still, as against the 212.5% increase thus recorded, cost of sale rose by only 170.5% to N1227m thus allowing gross profit to spring to N340m from N47.9m.
This was Arbico s main income stre but impressive increases were also reported in other little drops.
Then to crown it all, major costs went down. Operating expenses decreased by 38% to N84.6m, followed by 21,7% drop in staff cost to N44,8m.
Hence, the only unit that exactly pressure on the bottom line within the quarter was finance cost that closed 58.5% up at N7.07m.
It was too good to be true But true it is. Arbico thus ended the quarter with N207.3m profit as against N149.9m loss previously.
Its liquidity position ended far more healthy as well since working capital came to N2100.2m compared to N801.7m same time in 2015.

ARBICO PLC: (Nm)
                        First quarter
                             2016.           2015
Total revenue    1570.7.          503.9
Core revenue.     1567.0.         501.5
Cost of sale.       1227.0.          453.6
Gross profit.         340.0.             47.9
Finance income     0.20.           0.015
Sale of scrap          0.72.           1.47
Rent income           0.71.              -
Sale of assets         1.41            0,16
Rentals income.      0.64.           0.61
Op expense.            84.6.         136.4
Staff cost.                44.8.          57.2
Finance cost            7.07.         4.46
Profit before tax    207.3.     (149.9)
Profit margin %       13.2        (29.7)
Working capital.   2100.2.     801.7

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

DEC 20, 2018: UP, DOWN? CHECK ! AT NIGERIAN STOCK EXCHANGE

With one day more to end of the trading week, the All Share Index at the Nigerian Stock Exchange on Thursday confirmed a new up today, down tomorrow trend. The ASI closed at 30,802.90, up 0.32% after Wednesday's 0.35% decrease. Earlier, on December 13, the same trend was punctuated when the ASI closed 0.24% down instead of up. Since the trend resumed and got confirmed on Thursday as it rose by 0.32% on the back of 17 gains and 22 price drops. Seplat Petroleum jumped by N37.8 or 6.81% per share to lead the gainers as found and closed at N593 per share compared to N555.2 previously. It however recorded only 6 deals for 0.146m shares worth N87.106m. Also very much part of the critical pressure on ASI upwards, was N5 of 2.15% per share gain by Dangote Cement while witnessing 98 deals for 2.042m shares valued at N380.390m The rest gains were below N1 per share in contrast to price drops where 3 were above this borderline. Nestle Nigeria set the pace with N10 or 0.68% drop again, as it s...
Read more