Stanbic IBTC Holdings (NGX: STANBIC) has disclosed the expected date for the released of the company’s audited 2021 half year results.
In a press release on the Nigerian Exchange on Wednesday, Stanbic IBTC said that its Directors decided to audit the half year account. It stated that the accounts will be published on or before 29 August 2021, after receiving approval from the Central Bank of Nigeria.
The expected date of publication is still in compliance with the Section 1.1.3 of the Rules for filing of Accounts and Treatment of Default Filing, Rule Book of The Exchange (Issuers Rule) which states that “An issuer that chooses, in addition, to audit its quarterly accounts shall file such accounts not later than sixty (60) calendar days after the relevant quarter.”
The company said that NGX RegCo has been notified of the development.
The press release signed by Chidi Okezie, the Company Secretary read in part: “This is to notify NGX Regulation Limited (NGX RegCo) as well as our Esteemed Stakeholders that our Board of Directors has decided to audit the Half Year Financial Results of Stanbic IBTC Holdings PLC (“Stanbic IBTC” or “the Company”).
“Accordingly, the Audited Results for the Half Year Ended 30 June 2021 will be presented to the Central Bank of Nigeria (CBN) for approval, following which the said Financial Statements will then be released to the Market no later than 29 August 2021.”
In the first quarter of 2021, Stanbic IBTC Holdings’ gross earnings declined to N45.7 billion from the N61 billion reported in Q1 2020. The profit after taxation also dropped to N11.3 billion from N20 billion in Q1 2020.
The equity price remains at N39.55 per share on the floor of the Nigerian Exchange at the time of this report.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.