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  • Business - Companies
  • Updated: July 30, 2022

Business News Round Up From July 25-July 29, 2022

Business News Round Up From July 25-July 29, 2022

Welcome to the AllNews roundup of the 5 Latest Business News that made the round last week.

Cornerstone Insurance Records 19% Increase In  Gross Premium

For the 2021 financial period, Cornerstone Insurance Plc has recorded a 19% increase in gross premium.

The firm made this known in a statement titled ‘Cornerstone Insurance Plc records 19 per cent growth in top-line revenue and 61 per cent growth in profit after tax; Proposes 5k dividend’. Read more here.

Bakers In Cross River To Increase Price Of Bread, Reduce Production

Following the high cost of ingredients and other means of production, bakers in Cross River have resolved to increase the price of bread and reduce production.

Thomas Odey, a Master Baker, disclosed this in an interview with the News Agency of Nigeria (NAN) on Monday in Calabar. Read more here.

Dangote Industries Plc Announces Completion Of N187.58 Billion Bond Issue

The completion of Dangote Industries Funding Plc's N187.58 billion bond Series 1 (Tranche A and Tranche B) Fixed Rate Senior Unsecured Bond has been Issued under its N300 bn Debt Issuance Programme.

According to a statement, the bond issue represents the largest local currency bond issuance by a corporate issuer in the history of the Nigerian debt capital market. Read more here

BUA Cement Plc Records 41% Increase In Profit

BUA Cement Plc has released its Q2 financial statement for 2022, which revealed a profit before tax of N61.36 billiona 41.40% increase compared to N43.396 billion in HY 2021, depicting profit before tax margin and net profit margin of 39.7% and 32.5respectively from growth in income tax and net finance cost.

The company's net finance cost grew by 245% from -N824.11 million in HY 2021 to -N2.845 billion. Read more here.

Naira Depreciation: Senate Summons CBN Governor

Godwin Emefiele, Governor of the Central Bank of Nigeria has been summoned by the senate over the depreciation of the naira.

According to reports, a United States dollar was exchanged for N658 in a parallel market on Wednesday. Read more here

These are the latest Business news that made trends during the week. Visit our website https://allnews.ng for more Business news around the world

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