{"id":415760,"date":"2011-05-02T23:52:27","date_gmt":"2011-05-02T23:52:27","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/05\/02\/shareholders-commend-fsdh%e2%80%99s-performance\/"},"modified":"2011-05-02T23:52:27","modified_gmt":"2011-05-02T23:52:27","slug":"shareholders-commend-fsdhs-performance","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/05\/02\/shareholders-commend-fsdhs-performance\/","title":{"rendered":"Shareholders commend FSDH\u2019s performance"},"content":{"rendered":"
\n

By PROVIDENCE OBUH<\/p>\n

Shareholders of First Securities Discount House (FSDH) Limited\u00a0 have commended the company for the performance recorded in its\u00a0 financial year end December 31st 2010.<\/p>\n

Mrs. Muhiba Abass, a shareholder representing Unico CPFA Limited who spoke to the press during the company\u2019s Annual General Meeting (AGM). said despite the harsh operating environment and also considering the times the company has done well especially in the dividend declared.<\/p>\n

\u201cThis years dividend is a bit lower and we all know in the Financial sector the interest rate has been going up and for financial Companies that are trading bonds definitely the revenue should go down considering that the rates were lower last year, but comparing them to their peers they are still doing well\u201d.<\/p>\n

According to Abass, \u201cthe Dividend is good although it is lower than last year is , but\u00a0 still better than most others in the industry, so the Company is doing well\u201d.<\/p>\n

She advised the Company to look for other areas to improve its\u00a0 franchise,\u00a0 urging the Mnagement to\u00a0 get more business so that the Company\u00a0 can do better next year.<\/p>\n

\u201cWe want better dividend, we hope that the environment will be conducive for the financial sector players to do better.
In addition, Mr. Daniel Agbor, representing KMC Investments Ltd said, \u201cthe dividend is fine though a little lower than last year but acceptable\u201d.<\/p>\n

Agbor stated \u201cWe are very pleased with the performance of the Company, 2010 was a very difficult year, the Management and the Company has done very well and we hope that performance in 2011 will be better\u201d.<\/p>\n

Speaking on the future outlook he said, \u201c2011 is a difficult year, a transitional year for many institutions and I think FSDH as a discount house will hold his own, both in terms of its competitors and other discount houses and in terms of the banking industry generally\u201d<\/p>\n

Chairman of FSDH, Mr. Ibrahim Dikko lamented on some of the challenges of the company which is coming from the capital market stating that there is still a beat of apathy in trading.<\/p>\n

Dikko noted that the market has been a little beat quiet as trading\u00a0 is still very slow, also\u00a0 not very strong performance is seen from the stock market side of the business, the bond trading has been fairly good but a beat flat.<\/p>\n

\u201cI think there was a little beat of apprehension in the system with the elections but now that every thing has gone well, I think that\u00a0 the government\u00a0 should focus on the economy and prudent financial management\u201d he said.<\/p>\n

The shareholders approved a dividend of N698.7 million, which translates to 25 kobo per share to be paid to\u00a0 shareholders.<\/p>\n

FSDH Group, which is made up of four Companies covering both the money and capital markets posted a profit before tax of N3.43 billion compared to N3.015 billion recorded in 2009, while its Profit After Tax rose to N3.050 billion from N2.63 billion recorded in 2009.<\/p>\n<\/div>\n

Comments are moderated. Please keep them clean and brief.<\/p>\n<\/p>\n

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\nShareholders commend FSDH\u2019s performance<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By PROVIDENCE OBUH Shareholders of First Securities Discount House (FSDH) Limited\u00a0 have commended the company for the performance recorded in its\u00a0 financial year end December 31st 2010. Mrs. Muhiba Abass, a shareholder representing Unico CPFA Limited who spoke to the press during the company\u2019s Annual General Meeting (AGM). <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-415760","post","type-post","status-publish","format-standard"],"yoast_head":"\nShareholders commend FSDH\u2019s performance - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/05\/02\/shareholders-commend-fsdhs-performance\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Shareholders commend FSDH\u2019s performance - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"By PROVIDENCE OBUH Shareholders of First Securities Discount House (FSDH) Limited\u00a0 have commended the company for the performance recorded in its\u00a0 financial year end December 31st 2010. 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