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Nigerian Breweries Declares N10.5 Billion Profit for Q1 2016

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The Board of Directors of Nigerian Breweries Plc has declared a Profit after Tax (PAT) of N10.45 billion for the First Quarter of 2016. The unaudited and provisional results released to The Nigerian Stock Exchange show that the N10.45 billion PAT represents a 4 per cent increase over the N10.10 billion declared in the corresponding period in 2015.

The Company’s Revenue for the period grew by 11 per cent from N69.92 billion in 2015 to N77.55 billion in the current period. A further analysis shows that the Results from Operating Activities improved by 10 per cent from N16.37 billion in the first three months of 2015 to N17.99 in the corresponding months in 2016.
A statement by the Board of the Directors said the 11% growth in Revenue was a reflection of the Company’s strong and effective route to market, increased sales during the festive Easter period as well as higher number of sales days in the period as against the lower number of days recorded in the corresponding period of 2015 due to the general elections. According to the statement, despite the current challenging operating environment leading to consumer down-trading, rising inflation, increased cost of financing due to higher foreign exchange cost and increased input cost amongst others, the Company was still able to return the 4% increase in Profit after Tax. The increase in profit was also helped by the one-off merger costs incurred in the first quarter of 2015.
The statement signed by the Company Secretary/Legal Adviser, Mr. Uaboi Agbebaku, further said although the Board expects the operating environment in 2016 to continue to be very challenging, it remains confident that the Company is in a good position to take advantage of any upswing in the market especially with its twin agenda of Cost Leadership and Market Leadership supported by innovation.

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Police Deploy More Personnel To Seaports In Lagos Over Nigerian Students, NANS’ Protest

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Following the ASUU strike that has kept university students across the nation at home for over seven months, NANS declared “Occupy The Airport” nationwide protest.

The Nigeria Police Force has announced that it has deployed personnel to adequately secure seaports across the nation following a threat by the National Association of Nigerian Students (NANS) to shut down commercial activities at the nation’s busiest seaports ¬¬¬¬¬¬- the Apapa and Tin-Can Island Ports in protest over the lingering strike by the Academic Staff Union of Universities (ASUU).
Following the ASUU strike that has kept university students across the nation at home for over seven months, NANS declared “Occupy The Airport” nationwide protest.
The aggrieved students who protested on Monday at the Murtala Muhammed International Airport also reportedly threatened to ground commercial activities at the Apapa and Tin-Can Island Ports in Lagos State.
Disclosing the security beef up to Daily Trust, the Commissioner of Police in charge of Western Port Authority Command, Jonathan Towuru, said security was tightened around the Western Ports to avoid any breakdown of law and order although the student body did not show up as threatened.
The commissioner said, “People went about their businesses while operations at the terminals went on seamlessly, without any hindrance. But if the students eventually turn up, we will engage them in discussions. I must say that they conducted themselves well on Monday at the airport even though you still saw police monitoring the protest.”

 

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Evans The Billionaire Kidnapper Bags 21 Year Imprisonment

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Justice Oluwatoyin Taiwo of the Ikeja Special Offences Court on Monday sentenced kidnap kingpin, Chukwudumeme Onwuamadike, also known as Evans, and his co-defendant, Victor Aduba, to 21 years imprisonment for kidnapping one Sylvanus Hafia.

They were accused of conspiring and kidnapping Sylvanus Ahanonu Hafia at about 5:30 pm on June 23, 2014, at Kara Street, Amuwo Odofin in Lagos and were alleged to have captured and detained Hafia and demanded a ransom of $2m.

But they pleaded not guilty to the four charges.

The judge held that the sentence would serve as a deterrent to other aspiring kidnappers

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Poverty, Hunger in the Country, Okowa Blames APC

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…says Delta healthcare will curb medical tourism

Delta State Governor and Vice-Presidential Candidate of the Peoples Democratic Party (PDP), Ifeanyi Okowa, weekend, said that poor management of the nation’s economy by the ruling All Progressives Congress (APC) caused the rising hunger and poverty in the country.

He stated this at an empowerment programme for the people of Ika Federal Constituency at Boji-Boji Owa, Ika North Council by the member representing the constituency at the House of Representatives, Mr. Victor Nwokolo.

The governor, who commended Nwokolo for his gesture, described the event as “empowerment programme with a difference. He said Nigeria was troubled because people were hungry and out of job due to mismanagement of the nation’s economy.

He added that even students were having lots of challenges because their parents could not meet their needs owing to the level of poverty resulting from ineptitude of the APC-led Federal Government.

He, therefore, urged Nigerians to support the PDP, saying it was the only party with clear understanding of the nation’s challenges and had clear solution to rescue the nation.

Earlier, Nwokolo said his motive for the empowerment was to restore hope to the hopeless amid rising hunger and poverty in the land.

MEANWHILE, Okowa, also at the different forum, said the huge investment being made by his administration in the health sector was to improve healthcare delivery and reduce medical tourism in the country.

He disclosed this in an interview with journalists shortly after inspecting facilities at the Advanced Diagnostic Medical Centre and Mother and Child Hospital, Owa-Alero in Ika Council of the state.

He said the twin medical facilities would, on completion, reduce medical tourism as it would provide first-class medical services to people who would have sought medical treatment abroad.

“I am glad we have gotten to this stage. I had high hopes that by today, we would have inaugurated these projects.

“The equipment are fully on site and we are trying to get things fully sorted out and I am sure that in the next one month, it should be ready and opened to the public for use.

“The two projects are obviously very important. The Mother and Child, as it is so stated, is supposed to take care of every illness concerning our women and children,” he said.

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