By Udeme Ekwere

Afromedia Plc recorded a profit after tax of N134.67m in its unaudited result for the period ended December 31, 2010.

This represents a decrease of 16 per cent or N26.42m from the N161.09m recorded in the corresponding period of 2009.

According to the NSE’s weekly report for the week ended March 11, 2011, the company’s turnover, however, rose by N307m or 47 per cent from N661.67m in 2009 to 969.41m, while its net asset value stood at N5.43bn, up from N5.30bn in September 2009.

The report noted that the price of IHS Nigeria Plc was adjusted for dividend of six kobo per share following the recommendation of its Board of Directors, adding that the company’s register would close on March 21, 2011, while payment of dividend would commence on April 15, 2011.

In the over-the-counter bond market, a total of 159.82 million units, worth N142.78bn were recorded last week, in 1,349 transactions.

This was lower than 161.6 million units, valued at N144.37bn exchanged the preceding week in 1,339 deals.

The most active bond measured by turnover was the 10 per cent FGN July 2030 bond with a traded volume of 44.2 million units valued at N35.01bn in 371 transactions, followed by the 5.5 per cent FGN February 2013 Bond with a volume of 39.43 million units, worth N36.92bn in 390 deals.

According to the report, 12 of the available 32 FGN Bonds were traded last week, compared with 14 traded in the preceding week.

The banking sub-sector remained the most active during the week with investors exchanging 879.97 million shares, valued at N5.56bn in 15,866 deals.

Volume in the sub-sector was driven by trading in the shares of Zenith Bank Plc, Oceanic Bank International Plc, Finbank Plc and Wema Bank Plc, which accounted for 33 per cent and 15 per cent of the sub-sector’s volume and value respectively.

The other financial institutions sub-sector, boosted by activities in the shares of Crusader Nigeria Plc and Royal Exchange Plc, followed on the chart.

The report noted that 40 stocks appreciated in price during the week, while 47 stocks recorded losses.

Ashaka Cement Plc led the gainers’ table, appreciating by 13.28 per cent to close at N29 per share.

Dangote Flour Mills Plc gained 15.31 per cent to close at N18 per share.

Julius Berger Nigeria Plc, on the other hand, recorded the highest loss, shedding 5.4 per cent to close at N48.50 per share.

Source: Punch