Ernst & Small Driving Investment In Angola

The country has suffered a similar situation in 2009 where the price of the barrel went down to 39 dollars, so this is not a new situation for the country. The difference is I think the country is more prepared compared to that previous situation it faced in 2009, for instance, the international reserves that Angola has, provide the country with three months of importation. And now we know the reserves could stand for at least 7 months of the level of importation the country needs in order to proceed with its day to day activities. There are also other instruments the country has, like the sovereign fund that was created recently, to which the country has allocated 5 billion US dollars that could be used to a certain extent to decrease the negative impact of the oil crisis for the country. There are also the subsidies the country provides to the population, for fuel; figures indicate the country spends another 5 billion US dollars in subsidies to get the fuel prices to a lower level. So I think the country has mechanisms that it didnt have previously. Of course now there is a climate of uncertainty. But still, the last projections made by the government and the IMF indicate the country will still increase its GDP this year. So we are not talking about a crisis because when you have a country that will have a GDP growing around 3 to 5 percent, depending on the source of information, we cannot say we are talking about a real crisis. The issue is that it will not increase 6 or 7 percent as it was expected one year ago. It will still increase; I would say 3 to 4 percent would be a reasonable number, because there continue has been a big effort in the past to diversify the economy of the country.

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Nigerian Breweries to Pay N3.50 Final Dividend, Articles | THISDAY LIVE

According to the results made available by the Nigerian Stock Exchange (NSE), the leading brewing firm ended the year with a revenue of N266.37 billion, down marginally by 0.8 per cent from N268.6 billion posted in 2013. Cost of sales fell from N132.13 billion to N130.8 billion, while distribution and other administrative expenses rose from N69.38billion to N70 billion. Other income reduced y 17 per cent from N2.1 billion to N1.7 billion. Similarly finance charges fell by 22 per cent from N6.9 billion to N5.4 billion. Profit before tax fell marginally to N61.46 billion, as against N62.2 billion in 2013, while profit after tax fell from N43.1 billion toN42.52 billion. Earnings per share declined from 570 kobo to 562 kobo. Consequently, the directors recommended a final dividend N3.50 kobo, which translated into a pay ratio of 84.52 per cent and dividend yield of 3.68 per cent.

Publié le par Emilie dans «misc».