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Article: When the going gets tough.... (Nigeria)
- Article from:
- African Business
- Article date:
- November 1, 1995
- Author:
CopyrightCOPYRIGHT 1995 IC Publications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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This is the time manufacturing companies traditionally produce their half yearly reports; few have done so and it looks like many will not. For the majority of shareholders, no news is good news.
Those that have published reports tend to be larger firms, like PZ Industries Plc, which grossed N8.1bn and posted a N796.45m net profit over its accounting year. Nothing breeds success like success, and the company's stocks sold like hot cakes on the Nigeria Stock Exchange, enabling it to record a net capital gain of N45.16m in one day alone.
Other impressive half year results have come from UAC of Nigeria, Lever Brothers, Mobil, Total, Cadbury, John Holt, National ...