Resort Savings and Loans posts N148m profit

Resort Savings and Loans Plc, a firm listed under the mortgage carriers sector of the Nigerian Stock Exchange, has announced a profit after tax of N148.1m for the third quarter ended September 30, 2011.According to data which the company provided to the NSE, the profit was in contrast to the loss before tax of N2.02m in 2010.It noted that its turnover during the period was N945.93m as against N757.33m when compared to the same period in 2010."The net asset value stood at N4.13bn compared with N3.98bn in December 2010," the firm said.Meanwhile, a turnover of 1.235 billion shares worth N9.36bn in 16,529 deals was recorded last week as against the 1.25 billion shares valued at N10.344bn exchanged the preceding week in 17,992 deals.The NSE noted that there were no transactions executed through the stock market in the Federal Government Development Stocks, State Government Bonds and Industrial Loans/Preference Stocks sectors.The Banking sub-sector of the Financial Services sector was the most active during the week, measured by turnover volume. Investors exchanged 579.81 million shares worth N4.3bn in 8,562 deals.Volume in the Banking sector was largely driven by activity in the shares of Access Bank Plc, First Bank of Nigeria Plc and Zenith Bank Plc. Trading in the shares of the three banks accounted for 363.8 million shares, representing 62.7 per cent and 29.4 per cent of the sectors turnover and total volume traded during the week, respectively.The BeveragesBrewers/Distillers sub-sector of the Consumer Goods sector, boosted by activity in the shares of International Breweries Plc and Premier Breweries Plc, followed on the weeks activity chart.A turnover of 421.2 million shares valued at N3.5bn traded in 1,124 deals was recorded in the sub-sector.The NSEs All Share Index depreciated by 189.37 points or 0.9 per cent to close on Friday at 20,122.14 points, while the market capitalisation of the 186 First -Tier equities declined to N6.33tn.Twenty equities appreciated in price during the week, same as during the preceding week.Dangote Cement Plc led on the gainers table with a gain of N2.00 or 1.9 per cent to close at N105.10 per share.On the other hand, 44 stocks depreciated in price, lower than the 45 of the preceding week.
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