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Daily Business News Brief
(Source: GlobalView Capital Limited, Date: 17-May-2024)

Daily Business News Brief 

May 17th, 2024
Industrial sector rebounds, records over 73% year-to-date gain - Guardian

The industrial goods segment has bounded back from its 2023 ranking as the worst-performing sector on the Nigerian Exchange Limited (NGX), achieving a year-to-date return of 73 per cent and the best-performing on the bourse.
Barely five months into the year, the sector outperformed the all-share Index and the four other segments, recording 72.95 per cent gain, contrary to the paltry 12 per cent appreciation it posted at the end of the 2023 financial year.. .................................................. ............................................................................ ........................... .. . .,.. ............ ........ ..................... ... .. ...... ..  .... . ........... .......... ............. . ..... . ... ........................Read-More

CRMI eyes SEC collaboration to boost investors confidence - Punch

The Chartered Risk Management Institute is set to embark on a strategic collaboration with the Securities and Exchange Commission to enhance investor confidence in the nation's capital markets.
The President of the institute, Dr. Ezekiel Oseni, announced this during a courtesy visit to the Director-General of SEC, Emomotimi Agama in Abuja on Thursday..... ........................................................................... ........................... .. . .,.. ............ ........ ..................... ... .. ...... ..  .... . ........... .......... ............. . ..... . ... ........................Read-More

SFS REIT Records 70% Income Growth, Proposes N14.50 Dividends - Thisday

The SFS Real Estate Investment Trust (SFS REIT) has announced 70 per cent increase in its net income for the 2023 financial year, alongside a proposed dividend of N14.50 per share, which is the highest in its 17-year history.
This announcement was made by Managing Director and CEO of SFS Capital Limited, Mr. Patrick Ilodianya, who oversees the SFS REIT, formerly known as Skye Shelter Fund.. . ... .. .,.... .  . ... .......... .......................,........................................................ .... ...... . ......... . .................. . ............................... ....:,..... ... ........... .. ........  . ......... .., ... .. .,....... .. ...... . ..... . ... ........................Read-More

SAHCO Kano Station Receives ISAGo Re-certification - Thisday

Skyway Aviation Handling Company (SAHCO) Plc, Kano station, has been re-certified by International Air Transport Association (IATA).
The re-certification was issued to SAHCO after it passed the IATA Safety Audit for Ground Operations (ISAGO) standards audit conducted on the company in Kano... .... . ...... .  . ... .......... .......................,........................................................ .... ...... . ......... . .................. . ............................... ....:,..... ... ........... .. ........  . ......... .., ... .. .,....... .. ...... . ..... . ... ........................Read-More

Seplat Energy Recommits to Growing Shareholders Value, Sustainability - Thisday

The management of Seplat Energy Plc, yesterday recommitted itself to growing shareholders value, company's sustainability at its virtual 11th Annual General Meeting (AGM).
Seplat Energy's shareholders at the AGM approved the payment of a total dividend of US 15 cents by the Company as recommended by the Board... , . ...... .  . ... .......... .......................,........................................................ .... ...... . ......... . .................. . ............................... ....:,..... ... ........... .. ........  . ......... .., ... .. .,....... .. ...... . ..... . ... ........................Read-More

MeCure to produce first locally manufactured "˜Augmentin' amid manufacturers' exits - Nairametrics

MeCure Industries reports it has secured approval from the National Agency for Food & Drug Administration and Control (NAFDAC) to launch production of the first locally manufactured alternative Amoxicillin- Clavulanic acid tablets, Amoxyclav 625mg.
This announcement comes at a crucial time following the departure of major manufacturers of similar variants, positioning MeCure Industries as a key player in meeting the nation's healthcare needs...,.. , . ...... .  . ... .......... .......................,........................................................ .... ...... . ......... . .................. . ............................... ....:,..... ... ........... .. ........  . ......... .., ... .. .,....... .. ...... . ..... . ... ........................Read-More

Fidelity Bank shareholders approve N19.2 billion final dividend for 2023 - Nairametrics

Shareholders of Fidelity Bank Plc have endorsed the recommendation of the board of directors for a final dividend of N19.2 billion for the financial year 2023.
The shareholders gave the approval at the company's 36th Annual General Meeting (AGM) held virtually on Thursday....,.. , . ...... .  . ... .......... .......................,........................................................ .... ...... . ......... . .................. . ............................... ....:,..... ... ........... .. ........  . ......... .., ... .. .,....... .. ...... . ..... . ... ........................Read-More

May & Baker's quarterly profit hits 10-year high of N655m - Businessday

The earnings of May & Baker, a pharmaceutical manufacturing company in Nigeria, rose to the highest in at least 10 years in the first three months of 2024, according to its latest financial statements.
The firm's after-tax profit rose to N655.4 million in Q1 from N284.4 million in the same period of last year. Its revenue also rose to N6.4 billion from N4.2 billion....,.. , . ...... .  . ... .......... .......................,........................................................ .... ...... . ......... . .................. . ............................... ....:,..... ... ........... .. ........  . ......... .., ... .. .,....... .. ...... . ..... . ... ........................Read-More

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