Unilever's profit grows by 26%

Unilever Nigeria Plc has recorded a profit after tax of N4.07bn for the third-quarter ended September 30, 2011.Its financial results showed that its profit after tax, which stood at N3.24bn in the similar period of 2010, rose by 26 per cent or N83m to close at N4.07bn.The Nigerian Stock Exchanges report for the week ended October 21, 2011, showed that the companys turnover also rose by 18 per cent or N6.21bn, from N34.21bn in 2010 to N40.42bn in the year under consideration.The report added that, its net assets value, however, fell by N9m or 1.1 per cent to 8.24bn, down from N8.33bn recorded a year earlier.NPF Microfinance Bank Plcs unaudited result for the third quarter ended September 30, 2011, also showed a 36 per cent rise in its turnover, from N662.8m the previous year, to N903.7m in the year under consideration.The companys profit after tax also rose from N191.04m in September 2010 to N424.30m, while its net assets value was up by N6bn to close at N9.43, up from N3.43 recorded the preceding year.The NSE report also noted that Ecobank Nigeria Plc posted a profit after tax of N869m in its unaudited result for the third quarter ended September 30, 2011.Its gross earnings rose by 18 per cent or N6.66bn from N36.87bn in 2010, to N43.53bn in the year under consideration, while the company posted a net asset value of N77.47bn up by 4.2 per cent from N74.32bn recorded the preceding year.The NSE said Guaranty Trust Bank Plc reported a 36 per cent rise in its profit after tax in its unaudited result for the third quarter ended September 30, 2011.The banks profit, which stood at N27.82bn a year earlier, rose by N10.10bn or 36 per cent to N37.92bn in the year under consideration.Its gross earnings increased by 18 per cent or N18.96bn, from N107.18bn in 2010, to N126.14bn. Its net assets value stood at N225.12bn, up from N205.17bn in September 2010.In the Over-the-Counter Bond market, 113.567 million units worth N95.34bn were exchanged last week in 615 deals, compared with 225.82 million units, valued at N190.54bn recorded the previous week in 1,880 transactions.The NSE report noted that the most active bond, measured in terms of volume, was the four per cent FGN Bond 2015, with a traded volume of 36.15 million units, worth N27,939 in 200 deals.
Click here to read full news..