Tuesday, November 30

Tag: Profit

“Giving is not by who worth pass” Don Jazzy says as he recalls how his mother gave even when selling akara
Celebs

“Giving is not by who worth pass” Don Jazzy says as he recalls how his mother gave even when selling akara

Don Jazzy has said that giving to others isn't a sign that one has so much. He made this known after a Twitter user asked how much he's worth because of the money he's been giving away on the platform. He explained that "giving is not by who worth pass". He then revealed that even when his mother was selling akara years ago, she sometimes gave out all the profit.
Rihanna ‘drops lawsuit against her Father Ronald Fenty two weeks before Planned Court Appearance’
Lifestyle

Rihanna ‘drops lawsuit against her Father Ronald Fenty two weeks before Planned Court Appearance’

Rihanna is reportedly dropping her entire lawsuit against her father Ronald Fenty,  two years after accusing him of using her fame for profit in her suit. The pop star, who sued her father for using the family name to promote his venture Fenty Entertainment in 2019, told the court on Tuesday she was dismissing her lawsuit, according to court documents obtained by RadarOnline. The father and daughter duo were set to appear in court on 22 September, but it has now been reported she decided to reach an agreement outside of court in order to avert a spectacle around their legal proceedings, according to the site. Rihanna took legal action against her father in 2019, alleging he was seeking profit from her fame alongside a business partner. She ...
Man City Receive €11.2m as Jadon Sancho seals Man Utd move
Sport

Man City Receive €11.2m as Jadon Sancho seals Man Utd move

  Jadon Sancho’s former club, Manchester City, will be paid 15% of the profit Borussia Dortmund have made after his transfer to Manchester United was confirmed on Friday, ESPN reports. The amount City will get is expected to be around €11.2m ($13.17m). Sancho leaves Dortmund after making 137 appearances and scoring 50 goals in four years in Germany. He has signed a five-year deal with United, which includes the option of a further 12 months, the club confirmed. Borussia Dortmund had previously confirmed the agreement, stating on July 1 that the transfer fee is “fixed” at €85 million ($99.98m). United also confirmed that the deal had been initially agreed to, subject to a medical after England’s participation at Euro 2020.
Union Bank Reports 1.2% Rise In Profit After Tax To ₦24.7 Billion In 2020
Business

Union Bank Reports 1.2% Rise In Profit After Tax To ₦24.7 Billion In 2020

Union Bank has released its audited financial statements for the year ended 31st December 2020. The Bank’s results for the period show sustained growth in key income lines and significantly improved fundamentals notwithstanding a constrained operating environment largely due to the impact of the Covid-19 pandemic. Union Bank’s investments in technology and building a progressive work culture over the past eight years enabled a swift response to the pandemic that allowed our workforce to transition to remote working while maintaining the productivity required to deliver this strong set of results in 2020. Bank Financial Highlights: - Profit before tax: up 2.8% to N25.4bn (N24.7bn in FY 2019). - Profit After-tax: up 1.2% to N24.7bn (N24.4bn in FY 2019). - Gross earnings: d...
BUA Cement Declares Profit Of ₦95 Billion For Full Year, 2020
Business

BUA Cement Declares Profit Of ₦95 Billion For Full Year, 2020

BUA Cement, Nigeria’s second largest cement company, has announced full year revenues of N209billion in its unaudited 2020 Full Year financial accounts representing an increase of 19% from the corresponding period in 2019. The company also announced a 16% increase in gross profits to N95.4billion in 2020 from N82.4billion Naira in 2019. This further consolidates BUA Cement’s position as one of Nigeria’s most profitable companies – a position it is expected to strengthen further with the commissioning of its new 3 million Metric Tonnes Sokoto Cement Plant in 2021 and the addition of 3 new lines of 9 million metric tonnes total capacity in Adamawa, Edo and Sokoto States by 2023 for which it recently signed an agreement with Sinoma CBMI. This is expected to bring BUA Cement’s total capaci...
Julius Berger Records 8.35% And 86.83% Drop In Revenue And Profit In 2020
Business

Julius Berger Records 8.35% And 86.83% Drop In Revenue And Profit In 2020

Julius Berger Nigeria Plc, a planning and constructing a group of companies with a market capitalization of more than ₦30 billion, involving in all kinds of civil engineering works with seven subsidiaries, released its Consolidated Unaudited Financial Statements the year ended 31st December 2020 to the investing public on January 26th, 2021. - From the released result, the firm saw an 8.35% decrease in revenue from ₦264.56bn in FY’2019 to ₦242.46bn in FY’2020. This was driven by an 8.35% decrease in the revenues from their primary geographical market (Nigeria, Europe, and Asia). - Also, the civil works, building works, and services rendered at the firm dipped by 9.68%, 9.29%, and 4.28% respectively, as this could be the effect of Covid-19 pandemic lockdown that truncated the many...
MTN Nigeria Made ₦51 Billion Profit And Gained 4.2 Million New Subscribers In Q1
Business

MTN Nigeria Made ₦51 Billion Profit And Gained 4.2 Million New Subscribers In Q1

MTN Nigeria announced a profit after tax of ₦51 billion in Q1 2020 - a 6% increase compared with Q1 2019. This increase was largely driven by revenue from data subscriptions, which rose to ₦74 billion – a 60% increase compared with Q1 2019. Revenue from data subscriptions is expected to further increase this quarter (Q2 2020) as workers in many parts of Nigeria are working remotely due to the coronavirus outbreak. - Revenue grew by 16.7% to N329bn from N282bn in the previous quarter. - Profit before tax grew by 8.9% to N76bn. - Profit after tax grew by 5.6% to N51bn. - Net Assets grew by 35.3% to N196bn from N145bn. Service revenue rose by 16.7 percent year on year to NGN 328.5 billion, driven by voice and data revenue. Net profit increased by 5.6 percent to NGN 51.15 billion ...
BBNaija’s Jackye Madu’s Boyfriend Shades Omashola
Celebs

BBNaija’s Jackye Madu’s Boyfriend Shades Omashola

Lami, boyfriend of Big Brother Naija 2019 housemate Jackye Madu  has also dropped a shade for Omashola hours after his girlfriend dragged her co-reality show star on Twitter. Recall LIB reported that Jackye fired back at Omashola after he shared a tweet she felt was meant for her. She alleged that Omashola is yet to make half of the profit she has made in 2019 alone since they left BBNaija house, and might end up as a 40-year-old man with no wealth. Lami who backed his girlfriend's outburst on Twitter, described Omashola as a "loud mouthed" person. He added that his girlfriend won the battle by spilling the bitter truth. He wrote;
Bitcoin Investment Opportunity. Bitcoin Employment/ Career Opportunity
Lifestyle

Bitcoin Investment Opportunity. Bitcoin Employment/ Career Opportunity

  JOBS! JOBS!! JOBS!!! THIS IS A TESTED AND TRUSTED ONLINE JOB/INVESTMENT OPPORTUNITY. Always remember these- NO PAIN-NO REWARD, NO VENTURE-NO SUCCESS. THIS IS THE BITCOIN GOLDEN OPPORTUNITY WHERE YOU CAN EITHER INVEST IN BITCOIN AND EARN PROFIT DAILY OR CHOOSE TO START A CAREER IN THE BITCOIN INDUSTRY AND WORK FOR YOUR SELF WHILE YOU STILL GET PAID DAILY, FUNDS ARE PAID DIRECTLY INTO YOUR STIPULATED BANK ACCOUNT IN NAIRA OR DOLLARS, DEPENDING ON YOUR PREFFERED CHOICE. LUKILY YOU CAN BENEFIT FROM THE ANNIVERSARY PROMO CURRENTLY IN PLACE. Hello Dearest Investor, INTRO- Welcome yourself to this great Bitcoin investment Platform, we always have the latest and the most reliable information in the Bitcoin industry. BITINVEST WORLD is quite clear and intuitive. We have...
Entertainment

Eminem Jokes about Ariana Grande Concert Bomb Attack That Killed 22 People on his new Album

Eminem on Friday morning shocked the music world by unexpectedly dropping a new album 'Music to be murdered by' but that wasn't the only reason he became the number one trending topic on Twitter Worldwide. Eminem, 47, in one of the new songs, titled ‘Unaccomodating’, from the album made light of the tragic bombing at Ariana Grande’s Manchester concert in 2017 which took over 20 lives and made Ariana suffer from Post Traumatic Stress disorder (PTSD). Within the lyrics of the song, Eminem raps, “But I’m contemplating yelling ‘Bombs away’ on the game/Like I’m outside of an Ariana Grande concert waiting”      This didn't go down well with fans who criticized him for comparing himself to the bomber and one fan immediately took to Twitter to write; “Eminem literally just made ...
I Make N3.6m Annual Profit From Selling Hard Drugs – Suspect
Crime

I Make N3.6m Annual Profit From Selling Hard Drugs – Suspect

A drug peddler arrested alongside another suspect by the operatives of the Lagos Rapid Response Squad (RRS) has disclosed that he makes N3.6m annually selling hard drugs.The suspects Olukoya Ayodele, 26, and Victor Godwin, 30, who were arrested in the Alausa community of Ikeja, Lagos following an intelligence gathering by officers of the Decoy team of the RRS who were mandated to uncover illicit drugs being distributed in the area, confessed to buying and hawking different types of hard drugs such as, Indian Hemp, Skunk, Tramadol, Refnol, Diazal and other assorted hard drugs to factory workers in the area. It was gathered that Ayodele who claims to be a graduate of Information Management and a notorious member of Aye cult group, was arrested with charms which he claimed he used in p...
Nigeria Loses $6bn from ‘Corrupt’ Oil Deal Linked to Fraud
News

Nigeria Loses $6bn from ‘Corrupt’ Oil Deal Linked to Fraud

A court in Milan is considering charges of corruption against Eni and Shell in a controversial oil deal that led to Nigeria losing an estimated $6 billion. The campaign group Global Witness has calculated the OPL 245 deal in 2011 deprived Nigeria of double its annual education and healthcare budget. Eni and Shell are accused of knowing the money they paid to Nigeria would be used for bribes. The Italian and Anglo-Dutch energy giants deny any wrongdoing. This unfolding scandal, which is being played out in an Italian court, has involved former MI6 officers, the FBI, a former President of Nigeria, as well as current and former senior executives at the two oil companies. Global Witness has spent years investigating the deal which gave Shell and Eni the rights to explore OPL...
Monaco Coach Jardim Laments Poor Start To Season After Latest Setback
Sport

Monaco Coach Jardim Laments Poor Start To Season After Latest Setback

Monaco coach Leonardo Jardim saw his side endure another disappointing result on Tuesday but he is not putting their dreadful start to the season down to the huge turnover of players at the club. Jardim The Portuguese saw his team slump to a 1-0 home defeat at the hands of Angers in the principality, leaving the 2017 champions without a win in six league matches since beating Nantes on the opening weekend of the campaign. READ ALSO: Turkey plans to host Euro 2024 The Angers defeat was played out in front of a sparse crowd of just 5,502 at the Stade Louis II, but the home fans who did turn out booed their team off at the end, and Monaco are languishing in 16th place in the Ligue 1 table. “It is normal that we were booed, and yet the supporters here are nice,” said Jardim af...
Nigeria Air: FG Suspends National Carrier Project
News

Nigeria Air: FG Suspends National Carrier Project

The Federal Government of Nigeria has announced the suspension of the Nigeria’s national carrier – Nigeria Air. The decision was disclosed by the Minister of State for Aviation, Senator Hadi Sirika on Wednesday in Abuja. He said the federal government took the decision to suspend the procurement of Nigeria Air at the federal executive council meeting. Sirika didn’t give any specific reasons for the suspension. The Minister who said the decision was strategic dismissed claims that the suspension was due to pressure from stakeholders and the political atmosphere. It can be recalled that the Minister of State for Aviation, Hadi Sirika had back in July unveiled the name of Nigeria’s national carrier – Nigeria Air, as well as the logo of the brand at an event at the Farnborough Inte...
Record Share Price For Man Utd on New York Stock Exchange
Sport

Record Share Price For Man Utd on New York Stock Exchange

Manchester United have seen their share price on the New York Stock Exchange (NYSE) reach a record high, reports, www.sportspromedia.com/. Shares in the club over the past month have risen by almost 14 per cent - valuing the club at US$4 billion. Shares in Manchester United have been trading on the NYSE since 2012, and over the last two years, they have hit record amounts in revenue. The club is poised to announce profits of almost £600 million next month.  
Barcelona Make Record-Breaking £111m Following The Departure Of Nine Players
Sport

Barcelona Make Record-Breaking £111m Following The Departure Of Nine Players

Barcelona have earned a club record-breaking amount from sales this summer after nine players left Nou Camp.   The Spanish giant sold Gerard Deulofeu (£13m) to Watford with Lucas Digne (£18m), Yerry Mina (£28.5m) and Andre Gomes (£2m, loan) all of which joined Everton.   Aleix Vidal also joined Sevilla for £7.6m and Brazilian midfielder Paulinho who made a £50m return to China with Guangzhou Evergrande.   Three other players, Douglas and Adrian Ortola left on loan while Andres Iniesta left on a free.   The club, according to the SPORT report, were also growing concerned at the mounting wage bill with the squad so large and it quickly became a one-in, one-out policy for boss Valverde.   See full list of players they sold below. P...
Tyra Banks Makes $1.5m Profit Selling Her Home
Entertainment

Tyra Banks Makes $1.5m Profit Selling Her Home

Tyra Banks has banked 1.5million profit on the sale of a house just two years after buying it. The model and TV personality sold her ocean-view Pacific Palisades home for $9.25million, having paid $7.35million for it in 2016. The America's Next Top Model host - who is believed to have bought a neighbouring home for $7million in March - listed the five-bedroom cliff-top house in May. The very modern charcoal-coloured house, with half an acre of grounds, sits on cliffs with unobstructed ocean and mountain views. With lookout points and balconies situated all the way around the perimeter and spread over three levels, the property was clearly built for entertaining. Outside, a built-in fire pit is perfect for sunset drinks while an outdoor cooking area and pizza oven create the ...
Med-View Airline Grows Half-Year Profit To N857m
News

Med-View Airline Grows Half-Year Profit To N857m

Med-View Airline Plc has reported a growth of 27 per cent in profit after tax (PAT) to N857 million for the half year ended June 30, 2017, compared with N672 million in the corresponding period of 2016. The results of the only airline listed on the Nigerian Stock Exchange (NSE), indicated that gross revenue grew by 48 per cent from N8.7 billion to N13.007 billion in 2017. Operating cost shot up from N7.748 billion to N9.982 billion, propelled by rise in aviation fuel cost and cost of lease of aircraft for local operations. For instance the airline spent N1.257 billion on lease of aircraft in H1, compared with nothing in the corresponding period of 2016. Similarly, N4.506 billion was spent on aviation fuel, showing an increase of 60.2 per cent above the N2.811 billion recorded i...
MTN Returns To Profit-Making After Turbulent 2016
News

MTN Returns To Profit-Making After Turbulent 2016

MTN Group, Africa’s biggest mobile phone operator, says it has moved away from a turbulent 2016 that highlighted the risks of the company’s emerging markets strategy to a profit-making firm. MTN said on Thursday in Johannesburg that its earnings for first-half of the year had rebounded. It said that its headline earnings came in at 3.9 billion rand ($294.40m, or 212 cents per share, in the six months to end June compared with a loss of 4.9 billion rand, or 271 cents per share, a year earlier. “These numbers give us hope for the future. It is a very encouraging platform upon which to build our strategy,” said Rob Shuter, former Vodafone European head, who became chief executive in March. MTN’s shares were nearly 3 per cent higher at early trading due to the positive results. ...
Transcorp Posts Strong Half-Year Results, Records 134% Growth In Profit
News

Transcorp Posts Strong Half-Year Results, Records 134% Growth In Profit

The company recorded N4.2 billion as profit after tax for the half-year ended 30th of June 2017, translating into 134 per cent growth compared to the loss of N12.19bn recorded in the corresponding period in 2016 Transnational Corporation of Nigeria Plc, Nigeria’s foremost conglomerate, has announced financial results for its second quarter ended June 30, 2017, showing significant growth in key financial indicators. The company recorded N4.2 billion as profit after tax for the half-year ended 30th of June 2017, translating into 134 per cent growth compared to the loss of N12.19bn recorded in the corresponding period in 2016. The conglomerate achieved the impressive growth in profit from a total comprehensive income of N6.22 billion, a 285 per cent growth from the loss of N11.50 billi...
GTB Beats Expectations, Posts N42bn Profit In Q1
News

GTB Beats Expectations, Posts N42bn Profit In Q1

The Guaranty Trust Bank on Wednesday surprised investors with an impressive performance in the first quarter (Q1) of the year. The bank’s gross earnings rose from N73.4 billion recorded in the first quarter of 2016 to N104.7 billion in Q1 of 2017. Up by 38.8 percent. Net interest income also improved by 62.1 percent to N66.1 billion from N40.8 billion recorded in 2016, while credit impairment surged 12.6 percent from N3.4 billion recorded in 2016 to N3.8 billion in 2017. However, the bank recorded N50.4 billion profit before tax in the first quarter of 2017, which is 64.3 percent higher than N39.7 billion recorded in 2016. Profit after tax stood at N41.5 billion, up from N25.6 billion recorded in the same quarter in 2016. Commenting on the results, analysts said: “Q1 2017 PBT o...
Dangote Sugar Posts N14.4bn Profit In 2016, Declares 60k Dividend
News

Dangote Sugar Posts N14.4bn Profit In 2016, Declares 60k Dividend

Dangote Sugar Plc has announced a profit after tax of N14.4 billion for the financial year ended Dec. 31, 2016, representing an increase of 29.26 per cent. This was disclosed by audited result issued by the company on Sunday and made available to the News Agency of Nigeria (NAN) in Lagos. The report indicated that the profit was against the N11 .14 billion reported in the corresponding period of 2015. “The profit before tax stood at N19.61 billion compared with N16.16 billion achieved in the previous year, an increase of 21 per cent. “The company’s revenue appreciated to N167. 72 billion against the N101.06 billion recorded in 2015, representing a growth of 68 per cent. “Seasonal sugar production at Savannah 17,122 tonnes (2015: 6,610 tonnes) Full year refinery production at...
Fcmb’s Profit Rises By 109% To N16.3bn In 2016, Declares 10k Dividend
News

Fcmb’s Profit Rises By 109% To N16.3bn In 2016, Declares 10k Dividend

FCMB Group Plc has again demonstrated its resilience by reporting a profit before tax (PBT) of N16.3 billion for the full-year ended December 31, 2016, an increase of 109% compared to the N7.8 billion for the same period in 2015. Profit after tax also rose to N14.3 billion as against N4.8 billion prior year. Following these, the financial institution has recommended a dividend of 10 kobo per share to shareholders. FCMB Group which is the holding company of First City Monument Bank (FCMB) Limited, FCMB Capital Markets Limited, CSL Stockbrokers Limited and CSL Trustees Limited, also reported a number of appreciable growths in key operating areas going by the audited results. Gross revenue as at the end of December 2016 was up by 16% to N176.35 billion from N152.51 billion in the prev...

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