inflation-jun2017

NIGERIA’S INFLATION RATE – June 2017

The National Bureau of Statistics (NBS) has today released its Consumer Price Index (CPI) and Inflation Report for the month of June 2017. The report showed Nigeria’s Inflation rate increased by 16.1% on a year on year basis. This represents a 15 basis point decline from the 16.25% recorded in May 2017 and was the fifth consecutive month of decline in the Annual Inflation Rate.


AFRICAN ALLIANCE INSURANCE PLC – Audited Financial Result for the Year Ended 31st December, 2016
Gross Premium Written: 5% decrease from N15bn to N14.3bn
Profit/(Loss) after Tax: 161% increase from (N4.9bn) to N3bn (FY 2016 EPS, 14.68 kobo; FY 2015 EPS, -24 kobo)
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FLOUR MILLS OF NIGERIA PLC – Increase of Shareholding Interest in Subsidiary
Flour Mills of Nigeria Plc. has announced that it has increased its shareholding interest in one of its subsidiaries, Rom Oil Mills Limited, a manufacturer of high-quality oils, margarine and spread, from 90% to 95%.
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MRS OIL NIGERIA PLC
Update to Corporate Action for the Year Ended 31st December, 2016
Proposed Dividend:     173 kobo (2015: 110 kobo)
Proposed Bonus:         Nil
Closure Date:              30th June, 2017 (from 26th to 30th June, 2017)
AGM Date:                  7th August, 2017 (from 25th July, 2017)
Payment Date:            8th August, 2017 (from 26th July, 2017)
AGM Venue:                The Federal Palace Hotel, Victoria Island, Lagos
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Audited Financial Result for the Year Ended 31st December, 2016
Revenue: 26% increase from N87.1bn to N109.6bn
Profit after Tax: 57% increase from N935.6m to N1.5bn (FY 2016 EPS, 577 kobo; FY 2015 EPS, 368 kobo)
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Appointment of New Chairman
MRS Oil Nigeria Plc has announced the resignation of Alhaji Sayuu I. Dantata as the Chairman of the Board of Directors of the Company. Consequently, the Board of the Company has approved the appointment of Mr. Patrice Alberti as the new Chairman of the Board. Mr. Alberti is currently the Group Managing Director of MRS Group of Companies and a Director on the Board of Corlay Global S.A.
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RAK UNITY PETROLEUM COMPANY PLC – Change of AGM Date
Rak Unity Petroleum Company Plc. has announced the change of the date of its Annual General Meeting from Wednesday, 16th August, 2017 to Wednesday, 23rd August, 2017.
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OANDO PLC – SEC Investigation
In response to a report released by the media last Friday and petitions filed by foreign investors in the Company in relation to changes in its shareholding structure after the acquisition of ConocoPhillips, Oando Plc has announced that it is fully co-operating with the Securities & Exchange Commission (SEC) by providing all appropriate clarifications and rebuttals on the matter.
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UNILEVER NIGERIA PLC – Financial Result for the 6 Months Ended 30th June, 2017
Revenue: 40% increase from N32.3bn to N45.1bn
Profit/(Loss) after Tax: 236% increase from N1.1bn to N3.8bn (6M 2017 EPS, 97 kobo; 6M 2016 EPS, 29 kobo)
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