By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-Guinness Nigeria Plc Thursday reported a 2.7 percent (2.7%) dip in Profit After Tax (PAT) in its First Quarter (Q1) Report for the period ended September 30 2011.

This was contained in the Result Announcement released at the Floor of the Nigerian Stock Exchange (NSE) and obtained by www.investadvocateng.com in Lagos Nigeria.

To record the dip, PAT of the Company dropped from N2.316 billion in Q1 of 2010 compared to N2.254 billion in the corresponding period of 2011.

Profit Before Tax (PBT) also declined by 1.8% as Guinness Nigeria reported N3.376 billion in the first Quarter of year 2010 compared to N3.315 billion recorded in the review period; indicating a loss of 1.8%.

While Turnover increased slightly from N24.416 billion in Q1 of year 2010 compared to N25.766 billion in the same period of year 2011; representing an increase of 5.5% in the review period.

In the same vein, African Alliance Insurance Plc operating in the Insurance Sector of the Nigeria’s Exchange recorded a negative PAT of N229.906 million in the First Quarter of 2011 compared to N1.456 billion in the same period of year 2010; indicating an appreciation of 84.2%.

PBT also appreciated from a negative N1.472 billion in the Q1 of 2010 compared to N228.937 million it recorded in the corresponding period of year 2011.

While Gross Premium increased from aN775.203 million in the Q1 of 2010 compared to N991.892 million in the same period of year 2011; showing an increase of 28.0%.

Interlinked Technology Plc also announced that it has recorded an appreciation of 47.7% in PAT in its First Quarter Report for the period ended September 30 2011.

To record the appreciation, the Firm in the Q1 of 2010 declared a negative PAT of N3.021 million compared to N1.590 million it recorded in the review period of year 2011 as contained in the Result Announcement released by the NSE.

PBT in the review period by Interlink Technologies showed that the Company also moved from a negative N3.021 million in the First Quarter of 2010 compared to N1.532 million in the same period of 2011; showing an appreciation in PBT of 49.3%.

Turnover for the review period increased from N24.328 million in the Unaudited First Quarter period 2010 to N44.765 million in the same period of year 2011; indicating an increase of 84.0%.