Crusader Group records -628.5% loss in 2009 Audited results

-No dividend for shareholders


By Peter OBIORA investadvocate

Oct 13 2010 08.32 GMT

Lagos (investadvocate)-Crusader Group Plc (Crusader) operating on the Other Financial Institutions sector of the Nigerian Stock Exchange (NSE) has recorded -628.5 percent (-628.5%) loss in its Audited Year Ended December 2009.


This was contained in the Result Announcement released by the company Tuesday 12 October 2010 at the floor of the NSE in Lagos Nigeria and made available to investadvocate.


To record the loss, the company posted a Profit/Loss After Tax (PLAT) of N623.022 million in year 2009 compared to N85.518 million in year 2008; indicating a loss of -628.5%.


The company also recorded -191.2% in Profit Before Tax/ Extraordinary Items (PBT) in the review period; when it posted a loss of N339.605 million in year 2009 compared to PBT of N372.566 million in year 2008.


Meanwhile, Turnover increased slightly from N4.0608 billion in 2008 to N5.031 billion in the Audited Year Ended of 2009; indicating an increase of 9.2% in the period under review.


However, in the Result Announcement, shareholders of Crusader Group are not to expect any dividend payout for the Audited Year Ended December 2009 as the company declared none.


From the Corporate actions made available to the Stock Exchange, the company has scheduled its Annual General Meeting (AGM) for November 15 2010 at the Muson Centre in Lagos Nigeria with no dividend proposed.


In the same vein, in its First Quarter (Q1) result for the period ended March 31 2010 released at the NSE, the Crusader Group recorded a PAT of N233.213 million in 2010 compared to N149.270 million recorded in year 2009; showing an increase of 56.2% in the period under review.


PBT also grew by 66.6%; where the company recorded a N342.624 million in Q1 of year 2010 compared to N205.705 million in year 2009.


Q1 Turnover of Crusader Group for year 2009 was N1.360 billion compared to N1.923 billion in the corresponding period of 2010; representing a growth of 41.4%.


Also, the company released its Q2 result, and it’s PAT increased by 537.6% in the review period.


To achieve this feat, Crusader posted a PAT of N132.981 million in Q2 of 2010 compared to N20.856 million in 2009.


Again, PBT rose from N260.848 million in Q2 of 2010 compared to N85.762 in the corresponding period; indicating an increase in PBT of 204.2%.


While Turnover increased slightly by 9.6%; where the company posted N3.469 billion in the Q2 of 2010 compared to N3.165 billion in the same period of year 2009.


Meanwhile, Hallmark Papers Plc (Hallmark) operating on the Computer and Office Equipment Sector of the NSE declared a loss of N16.807 million in its Audited Year Ended December 2008.


The Paper Company recorded a PAT of N16.806 million in year 2008 compared to N940.566 million in year 2007; indicating a loss of 1888.0%.


While PBT N16.564 million for the Audited Year Ended December 31 2008 compared to N8.345 million in 2007; showing a loss in PBT of -98.5%  in the period under review.


Turnover However increased from N50.859 million in year 2007 to N79.167 million in year 2008; showing an increase of  55.7%.


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