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Financial statement

Coronation Insurance Revenue Rises To N15.75bn — But Profit Drops By 38.84%

Coronation Insurance Revenue Rises To N15.75bn, Profit Drops By 38.84%

Coronation Insurance has announced N15.75 billion revenue for the first quarter (Q1) of 2025, indicating turnover increased by 54.18 percent year-on-year from the N10.22 billion reported in Q1 2024. Also, the company’s earnings were impacted by an 82.83 per cent increase in

June 6, 2025

Business·Top Stories

Access ARM Grows Profit To N4.33bn, Total Assets Increase By 131.48%

Access ARM Pensions Limited recorded a 124.73 percent increase in fee income, after reporting N24.04 billion in 2024, compared to the N10.69 billion declared in 2023. The company announced the increase in its audited financial statements for the year ended December 31,

May 30, 2025

Business·Top Stories

Wema Bank Performs Poorly In Q1 As Revenue Drops 41%, Profit Declines 72%

Wema Bank’s revenue fell by 41.79 per cent to N81.27 billion in the first quarter (Q1) of 2025, failing to surpass the N139.62 billion generated in the corresponding period in 2024. The lender’s topline was negatively impacted by a 37.07 per cent

May 20, 2025

Business·Top Stories

Airtel Nigeria’s Voice Revenue Contribution Drops, Data Accounts For 45% Of Turnover

Airtel Nigeria recorded a 15.5 percent growth in its revenue after generating $307 million in the first quarter (Q1) of 2025, compared to the $266 million turnover reported for the same period in 2024. According to the financial statements for the period

May 19, 2025

Business·Top Stories

Seplat Generates N1.22trn Revenue In Three Months – Nearing 2024 Turnover

Seplat generated N1.22 trillion revenue in the first quarter (Q1) of 2025, almost replicating the N1.65 trillion turnover recorded for the whole of last year. According to the company’s financial statements for the period ended March 31, 2025, Seplat’s revenue in Q1

May 16, 2025

Business·Top Stories

AXA Mansard’s Revenue Hits N40.33bn, PAT Drops By 51.74%

AXA Mansard’s revenue grew by 26.64 percent year-on-year to N40.33 billion in the first quarter (Q1) of 2025, from N31.84 billion in the corresponding period in 2024. In its consolidated and separate financial statement for the period ended March 31, 2025, AXA

May 15, 2025

Business·Top Stories

Interest On Deposits Cuts Into UBA’s Earnings

The interest income of the United Bank for Africa (UBA) grew to N599.83 billion in the first quarter (Q1) of 2025, up by 36.08 per cent from N440,76 billion in the corresponding period last year. However, the interest income on loans advanced

May 14, 2025

Business·Top Stories

Mecure Industries Is Worst-Performing Pharmaceutical Stock Year-To-Date

Mecure Industries is the worst-performing pharmaceutical stock so far in 2025, according to Prime Business Africa’s analysis of its stock market activity in the last five months. The analysis showed that the company’s share price fell by N2.8 kobo from N13.90 kobo

May 13, 2025

Business·Top Stories

Tax Burden Reduces Legend Internet’s Profit By 51%

Legend Internet, an internet service provider (ISP), saw its revenue decline marginally by 5.76 percent to N1.13 billion for the year ended July 31, 2024, compared to the N1.20 billion generated during the same period in 2023. However, a 21.14 percent decrease

May 13, 2025

Business·Top Stories

N625bn Interest Income Fails To Save First HoldCo From 17% Decline In Profit

First HoldCo has released its financial statements for the first quarter (Q1) of 2025, disclosing that the company grew its interest income by 40.15 percent year-on-year from N446.14 billion to N625.28 billion. The company’s interest income grew faster than interest expense, which

May 12, 2025

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Financial statement

Coronation Insurance Revenue Rises To N15.75bn, Profit Drops By 38.84%

Access ARM Grows Profit To N4.33bn, Total Assets Increase By 131.48%

Wema Bank Performs Poorly In Q1 As Revenue Drops 41%, Profit Declines 72%

Airtel Nigeria’s Voice Revenue Contribution Drops, Data Accounts For 45% Of Turnover

Seplat Generates N1.22trn Revenue In Three Months – Nearing 2024 Turnover

AXA Mansard’s Revenue Hits N40.33bn, PAT Drops By 51.74%

Interest On Deposits Cuts Into UBA’s Earnings

Mecure Industries Is Worst-Performing Pharmaceutical Stock Year-To-Date

Tax Burden Reduces Legend Internet’s Profit By 51%

N625bn Interest Income Fails To Save First HoldCo From 17% Decline In Profit

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