WorldStage releases first analysts report on Nigerian firm *FCMB: Struggling with growing cost as profitability returns
Lagos (WorldStage Newsonline)—The research unit of World Stage Limited, publisher of WorldStage Newsonline today released its first Analysts Report on a Nigerian quoted firm.
The report, the first in a series (http://worldstagegroup.com/media/20760036074617.pdf ) on First City Monument Bank (FCMB) Plc, contains critical views of experts after a thorough review of the most recent financial performance of one of Nigerian leading banks.
The highlights of the report, for investors, media and the public to make informed decisions and commentaries on Nigerian firms- include that; the bank achieved an increase in interest income from N36.3 billion to N41.3 billion in financial year ended December 2011 with 72 percent of revenue from interest income compared with the 69.6 per cent figure recorded in 2010; Potential operating profit of N18.5 billion turned out to become a loss of N9.9 billion due to additional provisions and write-offs in 2011, totaling N32 billion; A healthy rise in investment to N155 billion from N74.2 billion in the preceding year 2010, representing a growth of 109 per cent; The costs associated with a unit income increased significantly between 2010 and 2011. This is reflected in the net loss margin of 12.0 per cent in 2011 from a profit margin of 13 per cent as at 2010.
WorldStage Research is a unit of World Stage Limited, a research and technology driven Africa focused firm with investment and expertise in multidimensional communication services which creates business solution synergy.
With highly trained professionals, WorldStage Research has embarked on research into all areas of economic activities, particularly on quoted companies on the Nigerian Stock Exchange, public institutions among others. The researched reports would be published on www.worldstagegroup.com for free download or for fee, as it is applicable from time to time.