PZ declares N1.586bn loss in Q1, bemoans forex regime

PZ Cussons Nigeria has reported
a massive loss of
N4.701 billion to foreign
exchange during the first quarter
of 2016.

The company’s revealed this
in its unaudited consolidated
statement of profit or loss and
other comprehensive income for
the first quarter ended 31 August
2016.
PZ’s made a gain of N14.968
million in foreign exchange during
the same period of 2015 as it
end first quarter 2016 at N4.701
billion, representing 31,507 per
cent loss.

In the same vein, it reported a
loss of N1.586 billion at the end
of first quarter 2016 as against
profit of N427.851 million made
during the same period of 2015;
this translates to 470.6 per cent
loss.

However, PZ Cussons Nigeria
Plc’s revenue rose by 12.04 per
cent at the end of current quarter
when compared with N14.953
billion it made in first quarter of
2015 to end with N16.753 billion.
Its gross profit improved by
40.7 per cent from N4.110 billion
in first quarter 2015 to N5.782 billion
at the end of first quarter
2016.

The earnings per share ran
into negative of 40 kobo in first
quarter 2016 from 11 kobo earned
at the end of first quarter 2015.
Meanwhile, shareholder of
PZ Nigeria negatively reacted to
the miserable result declared to
the investing public, as its share
price decline by 10.75 per cent
from N20.70 kobo to N10.69 kobo
as at Friday.

Comments

Chelsea preparing world-record Bonucci bid

Chelsea owner Roman Abramovic has told manager Antonio Conte that a January move for Juventus defender Leonardo Bonucci could be on the cards. According to reports from the Telegraph, the Russian businessman is prepared to bankroll a number of new signings in the New Year as the Blues look to retain the Premier League trophy. Bonucci would command a world-record fee for a defender, expected to be in the region of £50 million, should he move to Stamford Bridge.

Turkey bomb victims ‘mostly children’surviving

Most of the victims of the bombing of a Kurdish wedding party in the Turkish city of Gaziantep on Saturday were children, media reports have said. Twenty-nine victims were under the age of 18, reports said, with one official saying 22 were under the age of 14. The death toll rose to 54 yesterday. The suicide bomber himself was a child aged between 12 and 14, President Recep Tayyip One woman lost four children in the attack, Emine Arhan, said yesterday: “If it wasn’t for my only surviving child, I would have killed myself.” Another victim was a nine-year-old girl who had stayed on at the party to see the bride after her parents had left, according to reports. A disproportionately large number of women and children were killed in the attack because it targeted henna night, a part of the celebration attended mainly by women and children. Turkish officials said the type of bomb used, which contained scraps of metal, was similar to those used in previous attacks on pro-Kurdish gatherings. ...

Conte: Chelsea must learn to kill matches

Chelsea manager Antonio Conte says his side must learn to kill off matches quicker following their 3-2 League Cup win over Bristol Rovers. Michy Batshuayi scored two goals either side of a Victor Moses strike at Stamford Bridge to send the home side into the third round, but they were given a fright when the visitors twice halved a two-goal deficit through Peter Hartley and an Ellis Harrison penalty. The victory is Conte's third in competitive matches as Chelsea boss, following 2-1 wins over West Ham and Watford in the Premier League - both of which came about thanks to late goals from Diego Costa. And the former Italy boss wants his players to become more ruthless in their approach in order to prevent similarly nervy encounters in future. "These games are very tough," he told BBC Radio London Sport. "When you dominate the game, you must kill the game. In this case, we didn't do this. "It's a pity because when you're playing very well, creating a lot...

Welcome to EagleWatch

Search This Blog