It will go down in history that at a particular time in 2020, businesses and establishment witnessed a lot of disruptions triggered by COVID-19 pandemic that ravaged the entire globe. This novel outbreak will for a while have significant impact on businesses and economies across the globe.
First Quarter reports of quoted companies on the Nigerian Stock Exchange (NSE) came in the midst of serious fight against COVID-19 pandemic. It is not out of place for one to fear for woeful Q1 results from these companies. Interestingly, majority of Q1 results so far did not do badly at all.
Market response to the impressive Q1 results, coupled with dividend received by shareholders obviously resulted in the growth of the equities market as it grew by 8.08% in the month of April.
Summary of first quarter earnings of quoted companies for 2020 released so far can be found below:
ACCESS BANK
Access Bank Plc in First Quarter 2020 reported gross earnings of N264.5 billion, up by 71.86% when compared to the gross earnings of N153.9 billion in first quarter of 2019.
Profit before tax rose by 2.64% to N46.29 billion from N45.1 billion reported in the first quarter of 2019.
The financial giant in three months posted N40.93 billion as profit after tax, down by 0.53% when compared to the profit after tax of N41.15 billion reported in the first quarter of 2019. The earnings of the Bank stands at N1.15.
AFRICA PRUDENTIAL PLC
Africa Prudential in Q1 2020 reported gross earnings of N743.36 million, down by 14.49% compared to the gross earnings of N869.37 million.
Profit before tax for the period under review was N413.45 million, down by 8.88% when compared to N453.72 million recorded in Q1’2019.
Profit after tax declined by 10.41% to settle at N341.81 million from the profit after tax of N381.53 million recorded in the first quarter of 2019.
For the period under review, the Earnings per Share of Africa Prudential stands at 17 kobo, down by 10.41% when compared with the earnings per share of 19 kobo in Q1’2019.
BETA GLASS PLC
Beta Glass reported a turnover of N7.07 billion, down by 1.18 percent when compared to the turnover of N7.15 billion reported in Q1 2019.
Profit before tax rose by 14.88 percent to N2.098 billion from N1.826 billion reported in the first quarter of 2019.
Profit after tax grew by 14.88 percent to settle at N1.43 billion from N1.24 billion reported in Q1 2019.
Earnings per share of the firm stands at N2.85, up by 14.88 percent from the earnings per share of N2.48 in Q1 2019.
CADBURY NIGERIA
In the first quarter of 2020, Cadbury Nigeria Plc recorded a turnover of N8.55 billion, down by 7.87% when compared to the turnover of N9.28 billion reported in the first quarter of 2019.
Profit before tax rose to N912.8 million from N723.9 million in Q1 2019, indicating a growth of 26.08%.
Profit after tax grew by 26.08% to settle at N638.9 million from N506.75 million reported in the first quarter of 2019.
The earnings per share of the firm stands at 34 kobo, up by 26% when compared to the earnings per share of 27 kobo reported in the first quarter of 2019.
CAP PLC
CAP Plc reported a total turnover of N2.312bn in Q1 2020, which is an improvement of about 10% when compared with the previous turnover of N2.095bn in Q1’19.
Profit after Tax (PAT) of the company slumped by 8.55% to close at N456mn against the previous PAT of N498mn in the first quarter of 2019.
The earnings per share (EPS) of the company for the period under review is N0.65, compared with the previous EPS of N0.71 kobo in Q1’19.
CHAMPION BREWERIES
Champion Breweries reported a profit after tax of N138.4 million in Q1 2020. This represents a growth of 26.1 percent when compared to the profit after tax of N109.7 million reported in the first quarter of 2019.
In the unaudited financial statement, the firm grew its turnover by 6.87 percent to N1.95 billion from N1.82 billion reported in Q1 2019.
Profit before tax rose by 25.92 percent to N197.5 million from N156.8 million reported in Q1 2019.
For the period under review, the earnings per share of the firm stands at 2 kobo.
CUSTODIAN INVESTMENT
Custodian Investment on Wednesday published its first quarter report for the period ended 31 March, 2020.
Custodian Investment in its financial statement for the period ended 31 March 2020, reported gross revenue of N17.87 billion, up by 20.07 percent when compared to N14.89 billion reported in Q1 2019.
Profit before tax dropped by 8.07 percent to N2.28 billion from N2.48 billion reported in the first quarter of 2019.
Profit after tax for the period under review was N1.86 billion, down by 3.69 percent when compared the profit after tax of N1.93 billion in Q1 2019.
The earnings per share of the firm stands at 32 kobo, down by 3.69 percent from the earnings per share of 33 kobo in Q1 2019.
ECOBANK
The Unaudited financial statement of Ecobank for the three months ended March 31st , 2020 revealed a decline of 2.30% in topline figures to close the period at N194.8 billion away from N199.4 billion reported same period the previous year in 2019.
The first quarter reports which hit the market today 24th of April, 2020 showed a drop of about 19% in Profit after Tax to N24.6bn below N30.5bn recorded in the preceding year of 2019.
The earnings per share consequently dropped by 19.26%, from 167kobo in 2019 to 135kobo in the period under review.
FIDELITY BANK
Fidelity Bank in its first quarter financial report for 2020 declared a profit after tax of N5.86 billion.
In the unaudited financial statement of the three months ended 31, March 2020, the financial institution reported gross earnings of N51.16 billion, up by 5.65% when compared to the gross earnings of 48.42 billion reported in first quarter of 2020.
Profit before tax (PBT) for Q1 2020 closed at N6.58 billion, down by 1.36% when compared to the PBT of N6.67 billion in Q1 2019.
Profit after tax for the period under review dropped by 1.35%, closing the first quarter with N5.86 billion as against 5.94 billion reported in Q1 2019.
The earnings per share of the firm stands at 20 kobo, down by 1.35% when compred to the earnings per share of 21 kobo reported in Q1 2019.
FIRST BANK
First Bank of Nigeria Holdings (FBNH) in the first quarter of 2020 reported a profit after tax of N25.7 billion. This represents a growth of 62.74% when compared to the profit after tax of N15.79 billion reported in the first quarter of 2019.
The unaudited financial statement for Q1 2020 of the big elephant revealed gross earnings of N155.66 billion, up by 13.24% when compared to the gross earnings of N137.46 billion in Q1 2019.
For the period under review, the earnings per share of the big elephant grew to 72 kobo from 44 kobo in Q1 2019.
GUARANTY TRUST BANK
Guaranty Trust Bank in Q1 2020 reported a profit after tax of N50.07 billion in its financial statement for the period ended, 31 March, 2020.
The unaudited financial report of the financial giant revealed a gross earnings of N112.87 billion, up by 2.30% when compared to the gross earnings of N110.33 billion in the first quarter of 2019.
Profit before tax rose by 2.14% to N58.2 billion from the N56.98 billion reported in the first quarter of 2019.
Profit after tax grew by 1.55% to settle at N50.07 billion when compared to the profit after tax of N49.30 billion reported in the first quarter of 2019.
The earnings per share of the financial giant stands at N1.70, up by 1.55% when compared earnings per share of N1.68 in Q1, 2019.
IKEJA HOTEL
First Quarter report of Ikeja Hotel revealed growth in top line and bottom line figures of the hospitality firm.
The firm reported a turnover of N2.88 billion, up by 5.32 percent when compared to N2.73 billion turnover reported in the first quarter of 2019.
Profit before tax soared by 100.12 percent to N375 million from N187 million reported in Q1 2019.
Profit after tax jumped by 94.07 percent to N252.54 million from N130.13 million reported in Q1 2019.
For the period under review, the earnings per share (EPS) of the firm stands at 12 kobo, up by 94.07 percent, when compared to the EPS of 6 kobo reported in Q1 2019.
JULIUS BERGER NIGERIA
The construction giant in First Quarter 2020 reported a turnover of N55.9 billion, down by 11.14% when compared to the turnover of N62.9 billion reported in the first quarter of 2019.
Profit before tax for the period under review was N1.05 billion, down by 14.96% from N1.24 billion pre-tax profit reported in Q1 2019.
Profit after tax dropped by 15.13% to settle N412.45 million from 485.995 million reported in Q1 2019.
The earnings per share of the construction giant stands at 31 kobo.
MTN NIGERIA
MTN Nigeria, a leading telecom giant declared a turnover of N329 billion in its first quarter report for 2020. This represents a growth of 16.68 percent when compared to the turnover of N282 billion reported in the first quarter of 2019.
The profit before tax of the telecom giant appreciated by 8.86 percent to N76.308 billion when compared to the pre- tax profit of N70.096 billion reported in the first quarter of 2019.
Profit after tax for the period under review was N51.146 billion, up by 5.58 percent from N48.441 billion reported in Q1 2019.
The earnings per share MTN Nigeria is N2.51 up by 5.58% when compared to the earnings per share of N2.38 reported in Q1 2019.
NASCON ALLIED INDUSTRIES
NASCON Allied Industries reported a turnover of N6.88 billion in Q1 2020, This represents a growth of 0.83% when compared to the turnover of N6.82 billion reported in the first quarter of 2019.
Profit before tax for the period under review was N923 million, down by 9.68% from N1.02 billion reported in Q1 2019.
Profit after tax dropped by 9.68% to settle at N627.76 million from N694.92 million reported in Q1 2019.
The earnings per share of the firm dropped to 24 kobo from 26 kobo reported in Q1 2019.
NIGERIAN BREWERIES
The unaudited financial statement of Nigerian Breweries shows a marginal growth of 0.004% in turnover as the company reported N83,204,327,000 as against N83,200,623,000 reported in the first quarter of 2019.
Nigerian Breweries reported a profit before tax of N8.28 billion, down by 0.30% from N8.30 billion reported in the first quarter of 2019.
Profit after tax declined by 0.56% to settle at N5.51 billion from the profit after tax of N5.54 billion in 2019 first quarter. Earnings per share of the bank firm at 69 kobo.
STANBIC IBTC
Stanbic IBTC in its financial report for the three months ended 31 March, 2020 posted a profit after tax of N20.60 billion.
In the unaudited financial statement, the financial institution grew its gross earnings by 4.64% to settle at N61.42 billion from N58.69 billion reported in the first quarter of 2019.
The profit before tax of the bank was 24.41 billion, up by 3.85% when compared to N23.51 billion reported in Q1 2019.
The profit after tax of the bank grew by 7.58% to settle at N20.60 billion from N19.15 billion reported in the first quarter of 2019.
The earnings per share of the the bank stands N1.96, up by 7.58% when compared to the earnings per share of N1.82 in Q1 2019.
STERLING BANK
Sterling Bank in its unaudited financial statement for the period ended 31 March, 2020, reported gross earnings of N32.92 billion, down by 6.67% when compared to the gross earnings of N35.27 billion reported in Q1 2019.
Profit before tax for the period under review was N2.22 billion, down by 32.20% from N3.27 billion reported in the first quarter of 2019.
The Bank closed the first quarter of 2020 with profit after tax of N2.07 billion, down by 36.27% from N3.24 billion reported in the first quarter of 2019.
The earnings per share of the company dropped to 7 kobo from 11 kobo reported in Q1 2019.
UAC NIGERIA
UAC Nigeria Plc in its first quarter financial report for the period ended 31 March 2020 reported a turnover of N19.55 billion. This shows a decline of 2.94 percent when compared to the turnover of N20.14 billion in Q1 2019.
Profit after tax for the period under review rose by 87.15 percent to N1.86 billion from N996 million reported in the first quarter of 2019.
The earnings per share of the firm stands at 65 kobo, up by 87.15 percent when compared to the earnings per share of 35 kobo in Q1 2019.
UNION BANK OF NIGERIA
Union Bank of Nigeria in First Quarter 2020 reported gross earnings of N43.91 billion, up by 16.55 percent when compared to the gross earnings of N37.67 billion reported in the first quarter of 2019.
Profit before tax for the period under review was N6.298 billion, up by 15.81 percent when compared the pre-tax profit of N5.438 billion in Q1 2019.
Profit after tax grew by 14.09 percent to close the first quarter of 2020 at N6.017 billion from N5.274 billion reported in the first quarter of 2019.
The earnings per share of the bank is currently 21 kobo, up by 14.09 percent from the earnings per share of 18 kobo in Q1 2019.
UNITED BANK FOR AFRICA
The financial report of United Bank for Africa for the three months ended 31, March 2020 shows that the bank made improvement in its topline and bottom line figures.
The unaudited financial statement shows that the Bank made grow earnings of N147.17 billion, up by 11.77% when compared to the gross earnings of N131.67 billion in Q1 2019.
Profit before tax appreciated by 8.52% to N32.73 billion from N30.16 billion reported in the first quarter of 2019.
UBA in three months posted N30.1 billion as profit after tax, up by 5.01% when compared to the profit after tax of N28.67 billion reported in the first quarter of 2019. The earnings of the firm stand at N0.88.
UNITED CAPITAL
United Capital Plc in its unaudited financial statement for the three months ended 31, March, 2020, reported gross earnings of N1.92 billion, up by 32.23% when compared to N1.45 billion reported in the first quarter of 2019.
In the unaudited financial statement, the firm recorded gross earnings of N1.92 billion, up by 32.23% when compared to N1.45 billion reported in the first quarter of 2019.
Profit before tax rose to N1.176 billion, up by 53.40% when compared to N766.87 million reported in Q1 2019.
Profit after tax grew by 53.89% to settle at N991.29 million, compared to N644.17 million reported in first quarter of 2019.
Earnings per share of the firm rose by 54% to 17 kobo from 11 kobo reported in the first quarter of 2019.
UNILEVER NIGERIA
Unilever Nigeria in its unaudited financial statement for the period ended 31 March 2020, reported a turnover of N13.33 billion, down by 30.71% when compared to the turnover of N19.24 billion reported in first quarter of 2019.
Profit after tax came down to N1.1 billion from N1.52 billion reported in Q1, 2019, implying a decline of 26.71%
The earnings per share of the firm stands at 19kobo, down by 26.71% when compared to the earnings per share of 26 kobo reported in Q1,2019.
ZENITH BANK
The financial giant in First Quarter 2020 reported gross earnings of N166.8 billion, up by 5.5 percent when compared to the gross earnings of N158.1 billion reported in the first quarter of 2019.
Profit before tax rose by 2.61 percent to N58.79 billion from N57.29 billion reported in Q1 2019.
Profit after tax for the period under review was N50.53 billion, up by 0.58 percent from N50.23 billion reported in Q1 2019.
The earnings per share of the financial institution is N1.61, up by 0.58 percent from the earnings per share of N1.60 in the first quarter of 2019.