Despite a 2.3 per cent decline in MTN Nigeria subscriber base, the company’s revenue has increased by 11.6 per cent in the first quarter of 2017. MTN Nigeria says it “had a strong start to the year with an 11.6 per cent increase in total revenue, supported by a 71.3 per cent boost in data […]
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Facebook Inc. has reported a forecast-beating first-quarter profit of 3.06 billion dollars (£2.4bn). On a per-share basis, the Menlo Park, California-based company said it had profit of 1.04 dollars, a above the 87 cents per share that analysts polled by FactSet had expected. The social media company posted revenue of 8.03 billion dolllars (£6.2bn) in […]
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Retail giant Next revealed that high street sales plunged by 8.1% in its first quarter and cut its profit outlook once again as it warned that trading would remain under pressure. The worse-than-expected performance over the 13 weeks to April 29 came despite a boost from the later, warmer Easter this year, although Next said […]
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Royal Dutch Shell says first-quarter earnings more than doubled as energy prices rebounded and the company benefited from a cost-cutting drive announced when oil was at a 12-year low. The Anglo-Dutch energy giant said Thursday that profit adjusted for changes in the value of inventories and excluding one-time items rose to $3.75 billion from $1.55 […]
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Sterling Bank Plc grew headline earnings by 12 per cent to N28.6 billion in the first quarter of 2017 as the bank’s net interest margin improved to 8.2 per cent within the first three months. The first-quarter report released at the weekend showed continuing improvement in the underlying core banking business of the bank as […]
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Transnational Corporation of Nigeria Plc (Transcorp) Plc recorded considerable improvements in its performance in the first quarter of 2017 as turnover rose by 20 per cent to N15.77 billion. Key extracts of the interim report and accounts of Transcorp for the three-month period ended March 31, 2017 showed that group’s total revenue increased to N15.8 […]
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The Pan African financial institution, United Bank for Africa (UBA) has released its unaudited first quarter results, showing significant growth across major income lines. Following a sterling performance in 2016 financial year, UBA Group delivered another impressive 41% percent year-on-year growth in profit-before-tax in the first three months of 2017. Leveraging on strong growth in […]
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Costly product recalls and lower sales took a bite out of Ford’s first-quarter profit. Ford Motor Co.’s net income fell 35 percent to $1.6 billion, or 40 cents per share, in the first quarter. The Dearborn-based automaker had warned investors and analysts to expect weaker results in the January-March period. Ford earned a record pretax […]
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Guaranty Trust Bank Plc has released its unaudited financial results for the quarter ended March 31, which showed its gross earnings for the period grew by 39per cent to N104.66 billion from n75.39 billion reported in March 2016. The earnings, the lender said, were driven primarily by growth in interest income. Profit before tax stood […]
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Telecommunications giant, Etisalat reported strong figures for the first quarter, noting its “ability to sustain momentum in spite of vastly changing global industry trends”. According to Saleh Al Abdooli, the group’s CEO , “Etisalat has continued its efforts to align its business with the digital mandate it has undertaken, by shifting the operating model, investing […]
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Rising labor and fuel costs cut into Delta’s first-quarter profit, but the airline expects help this spring from higher average prices. Delta said Wednesday that it expects a key revenue measure to rise by between 1 and 3 percent in the second quarter compared with a year earlier. That is a sign that after falling […]
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The Federal Government is planning to borrow between N340bn and N430bn of local currency bonds during the first quarter, the Debt Management Office has said. In a data posted on its website on Friday, the DMO said that it would auction N110bn to N140bn worth of bonds maturing in 2021 and N85bn to N105bn in […]
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