Uncategorized

Ikeja Hotel reports 28% loss in Q1 of 2011

Posted by InvestAdvocate on

More in Uncategorized:

ikeja hotelBy InvestAdvocate

Lagos (INVESTADVOCATE)-Ikeja Hotel Plc operating in the Hotel & Tourism Sector of the Nigerian Stock Exchange (NSE) has declared a 28 percent (28%) loss in its Unaudited First Quarter Result for the period ending March 2011.

This was contained the Company’s Profit and Loss Information Wednesday to the Nigeria’s Exchange in the review period and made available to InvestAdvocate in Lagos Nigeria.

To record the loss, the Hotelier recorded a Profit After Tax (PAT) of N236.655 million in the Q1 of 2011 compared to N327.979 million in the same period of year 2010; indicating a 28% loss.

Profit Before Tax (PBT) also declined in the review period as the Company reported N338.078 million in Q1 of year 2011 compared to N468.542 million in the same period of year 2010; showing a decline in PAT of 28%.

While Turnover was N1.791 billion in the Unaudited Q1of 2011 compared to N468.542 million in the same period of 2010; representing a slight decrease in Turnover of 3.0%.

Also, Guinea Insurance Plc, operating in the Insurance Sector of the Nigeria’s Exchange in its Unaudited Q2 June 2011 reported a slip in Gross Premium of 10.02%.

Gross Premium for the review period was N441.435 million in the Q2 of 2011 compared with N490.619 million recorded in the same period of 2010.

PAT was N93.193 million in Unaudited Q2 June 2011 of the Insurance Firm; compared to N64.814 million in the same period of 2010; indicating a growth of 43.78%.

While PBT was N133.130 million compared to N81.018 million; showing an increase of 64.32% in the review period.

On its part, Grief Nigeria Plc operating in the Packaging Sector of the NSE in its Unaudited Q3 July 2011 declared a slip in Profit After Tax of 21.75% in the review period. The Company recorded N51.979 million in Q3 of 2011 compared to N66.432 million in the same period of 2010.

While PBT was N74.258 million in the third Quarter of 2011compared to N69.624 million in year 2010; representing an increase of 6.65%.

In the same vein, Turnover also increased from N587.477 million in Q3 of 2010 compared to N662.519 million in 2011; showing an increase of 12.77% in the review period.

Comments are closed.