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Profit - Page 4

Grand Towers Grows Revenue To N530m, Net Income Rises 320%

Grand Towers, the parent company of Grand Towers Hospitality Ltd and Grand Towers Leisure Ltd, generated N530.66 million in revenue in 2024, surpassing the N161.95 million reported in 2023. The 227.66 percent increase in its turnover was driven by the dividends received

July 14, 2025

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Jaiz Bank Ends Q1 2025 With N1.10trn Total Assets, Profit Rises 17%

Jaiz Bank has reported N21.69 billion as revenue generated in the first quarter (Q1) of 2025, surpassing the N17.41 billion turnover recorded in the same period in 2024, representing an increase of 24.56 percent. The bank, in its financial statements for the

July 11, 2025

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Guinness Exits Loss Phase With N7.02bn Profit, Revenue Grows By 52%

Guinness Nigeria has revealed that it recorded N118.33 billion revenue for the quarter ended March 31, 2025, compared to N77.70 billion turnover reported in the same period last year, indicating an increase of 52.28 percent. The company’s cost of sales also increased

July 9, 2025

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Cutix Grows Revenue To N3.96bn, Profit Declines By 60%

Cutix Plc, a wire and cable manufacturer for electrical, automobile, and telecommunication, generated N3.96 billion turnover in the fourth quarter (Q4) ending April 30, 2025. According to its unaudited financial statement for the Q4 period ended April 30, 205, the company’s revenue

July 8, 2025

Business·Top Stories

Sunu Assurances’ Revenue Rises To N5.28bn – But Profit Drops By 69%

Sunu Assurances’ revenue jumped 34.66 percent to N5.28 billion in the first quarter (Q1) of 2025, surpassing the N3.92 billion generated in the corresponding period in 2024. The company’s financial statement for Q1 2025 also showed that Sunu Assurances’ insurance service expenses

July 4, 2025

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Costs Gulp 46% Of Neimeth’s Turnover As Expenses Rise By 296%

Over N1.20 billion was recorded as revenue by Neimeth International Pharmaceuticals Plc in the first quarter (Q1) of 2025, exceeding the N648.25 million turnover reported in Q1 2024, reflecting an increase of 86 percent. However, the cost of sales increased threefold or

July 3, 2025

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56% Increase In Income Tax Eats Into NEM Insurance’s Profit Of N14.85bn

NEM Insurance reported its revenue for the first quarter (Q1) of 2025 was N46.05 billion, surpassing the N29.03 billion generated in Q1 2024, indicating an increase of 58.63 percent. However, the increase was overshadowed by the 61.65 percent recorded in insurance service

June 30, 2025

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Sterling Financial Holdings Records N95bn Gross Earnings, Profit Up 129.62%

In its condensed unaudited group interim financial statements, Sterling Financial Holdings Company Plc disclosed that its gross earnings increased by 34.09 percent to N95.23 billion in the first quarter (Q1) of 2025, compared to the N71.02 billion declared in the same period

June 20, 2025

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NPF Microfinance Bank Earnings Hit N4.50bn, Profit Up 73.37%

The NPF Microfinance Bank has reported N4.50 billion as gross earnings for the first quarter (Q1) of 2025, noting that it rose by 63.96 percent compared to the N2.74 billion posted in the corresponding period last year. According to the company’s Q1

June 19, 2025

Business·Top Stories

AIICO Exceeds Topline, Bottom Line Forecasts, But Profit Drops 49.58%

AIICO Insurance exceeded its topline and bottom line forecast for the first quarter (Q1) of 2025, after recording N54.81 billion gross written premium, compared to the N50.54 billion projected for the period. According to the insurer’s Q1 2025 financial statement, it also

June 18, 2025

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Profit - Page 4

Grand Towers Grows Revenue To N530m, Net Income Rises 320%

Jaiz Bank Ends Q1 2025 With N1.10trn Total Assets, Profit Rises 17%

Guinness Exits Loss Phase With N7.02bn Profit, Revenue Grows By 52%

Cutix Grows Revenue To N3.96bn, Profit Declines By 60%

Sunu Assurances’ Revenue Rises To N5.28bn – But Profit Drops By 69%

Costs Gulp 46% Of Neimeth’s Turnover As Expenses Rise By 296%

56% Increase In Income Tax Eats Into NEM Insurance’s Profit Of N14.85bn

Sterling Financial Holdings Records N95bn Gross Earnings, Profit Up 129.62%

NPF Microfinance Bank Earnings Hit N4.50bn, Profit Up 73.37%

AIICO Exceeds Topline, Bottom Line Forecasts, But Profit Drops 49.58%

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