Six blue chip companies listed on the Nigeria Stock Exchange (NSE) on Monday reported outstanding performances in their 2019 full year financial operations, posting a total of N3.7 trillion in incomes and N941 billion Profit After Tax (PAT) in the financial year.

An analysis of the performance, indicated that four companies listed on the premium board of the NSE and two others on the main board cumulatively recorded a surge in their incomes by N367 billion up from the N3.3 trillion in the previous year despite the difficult operating environment in the financial year.

The Premium Board is the listing segment for the elite group of issuers that meet the Exchange's most stringent corporate governance and listing standards and it gives a company access to a global pool of investors who are focused on companies managed in conformity to the highest standards in their target markets.

The companies on the premium list are Dangote Cement, United Bank for Africa, MTN and Zenith Bank plc. The other two companies on the main board are Guaranty Trust Bank and Nestle Plc.

A further review of their PAT (bottom line) showed that the six companies recorded N941.7 billion, which is a drop of N94.2 billion from the cumulative N1.035 trillion recorded in 2018.

An individual analysis indicates that five out of the six companies recorded a surge in revenue and profit, except Dangote Cement, which recorded a drop in income by N8 billion (2019:610bn, 2018: N618bn) as well as in PAT (2019: N390bn, 2018: N200bn).

GTB led the most improved revenue line with N129bn. The lender is closely followed by MTN with N122bn. UBA followed with N65bn. Zenith with N32bn and Nestlewith N18bn.

On the PAT ratings, MTN returned the highest with a growth of N61bn; Zenith followed with N15.8bn; GTB N12.8 bn, UBA N10.4bn and Nestle with N2.7 bn.

© Pakistan Press International, source Asianet-Pakistan