Friday , 2 December 2022

Finance & Investment

New GMD commends performance as UBA records double digit growth in top, bottom lines

Bank declares N0.20k interim dividend GROUP Managing Director/Chief Executive Officer of Africa’s Global Bank, United Bank for Africa (UBA) Plc, Oliver Alawuba, has commended the stellar performance of the bank after it announced audited financial results for the half year ended June 30, 2022, recording double-digit growth across key income lines and progress in the contribution from its subsidiaries. UBA …

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Heirs Oil & Gas reiterates commitment to global ESG best practices

HEIRS Oil & Gas, Africa’s integrated energy company has reaffirmed its commitment to both national and global environmental, sustainability and governance (ESG) best practices in view of its upcoming operational 1-year anniversary. An important aspect of this commitment is the elimination of routine flaring from HHOGs OML 17 by 2025, in compliance with the Nigerian Government’s routine Flare Reduction/Elimination goal …

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Elumelu upholds commitment to exceed growth trajectory, create value for shareholders at UBA’s 60th AGM

  UNITED Bank for Africa (UBA) Plc, has assured shareholders and investors of its unwavering commitment to sustain its current growth trajectory even as its efforts at business diversification across Africa and beyond continues to yield increasing returns.   The Group Chairman, Tony Elumelu, who made this declaration at UBA’s 60th Annual General Meeting, which was held at the Transcorp …

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Transcorp Hotels Plc grows revenue by 114%, increases gross profit by 143% to end record-breaking year at N21.74bn 

Shareholders to receive about N717m dividend  TRANSCORP Hotels Plc has announced its Audited Financial Statements for the full year ended December 31, 2021. The results published on the Nigerian Group Exchange showed a 114% growth in Revenue to N21.74bn from N10.16bn as of December 2020, while Gross Profit rose by 143 % to N16.23bn from N6.67bn.       The Company’s results show an impressive …

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United Nigeria Chairman seeks Enugu govt support for investors, restates MRO establishment plans

THE establishment of a Maintenance and Repair Organization (MRO) in Enugu State will create jobs and expand opportunities as well as drive potential investments, according to the Chairman of United Nigeria Airlines, Dr. Obiora Okonkwo. Speaking when he led a team of management of the airline on a courtesy visit to the state governor, Hon. Ifeanyi Ugwuanyi at Government House …

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Delta plans $1.2bn investment to strengthen global partners Virgin Atlantic, Aeromexico, LATAM

DELTA Air Lines will make investments of $1.2bn in Virgin Atlantic, Aeromexico and LATAM as the partner airlines transform their businesses to emerge from the global pandemic stronger and more resilient. Upon completion of their respective restructuring or recapitalization processes, Delta is targeting a 20% equity stake in Aeromexico and a 10% equity stake in LATAM. In addition, Delta will …

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CBN earmarks N41bn via Heritage Bank for dry season wheat projects’ farming

  CENTRAL Bank of Nigeria earmarked a whopping sum of N41billion, which is being disbursed by Heritage Bank Plc to farmers across multiple States for the expansion of wheat production project.   The disbursed fund is to consummate the expansion of Wheat Seed Multiplication Project, as part of the CBN’s Brown Revolution Initiative, an intervention programme to flag-off and support …

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Sekibo calls for prioritization of SMEs, youth entrepreneurship by govt., stakeholders

MANAGING Director and Chief Executive Officer of Heritage Bank Plc, Ifie Sekibo has explained that for sustainable solutions to economic recovery government and stakeholders need to create opportunities and consciously include Small and Medium Enterprises and youth entrepreneurship. Sekibo made this submission on the sidelines of the 14th Annual Banking and Finance Conference of the Chartered Institute of Bankers of …

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Heritage Bank, 7 others bankroll N15.5bn SCOA handover of trucks, equipment to Julius Berger

HERITAGE Bank Plc and seven other banks have provided a total of N15.5billion to assist SCOA Nigeria Plc for the importation and supply of MAN Platform Trucks and equipment to Julius Berger Nigeria for construction of 380km Abuja-Kaduna-Kano roads and many others across the country. Specifically, Heritage Bank availed SCOA Motors an Advance Payment Guarantee (APG) N4.64 billion for the …

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Delta announces December Quarter; full year 2020 financial results; forecast Q1 2021  

DELTA AIR LINES has today reported financial results for the December quarter and full year 2020 and provided its outlook for the March quarter 2021.Highlights of the December quarter and full year 2020 results, including both GAAP and adjusted metrics, are on page five and are incorporated here. According to Delta CEO, Ed Bastian 2020 was one of the airline’s …

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