STOCK MARKET UPDATE.

AIRSERVICE

Airservice offers both scheduled and charter service and can access points not accessible by competitors fleet, also they provide scheduled service to many communities in the aspect of health, economic development. Air service closed trading at N22.04, its all time high is N 23.14, and the lowest price is N20.94, traded in 26 deals with a total of834,224 deals valued at 18,120,547,00. The growth has been slightly progressive, over the years, the financial year ends 31st December, Airservice was listed on the 6th of December,

Airservice made a turnover of N3.471 Billion in 2007 as against N1.847 Billion in 2006,Profit before taxation in 2007 was N322.760Billion as against N179.238 Billion in 2006. Proposed dividend/share is 5kobo. Unaudited nine months results ended September 30 2007

Amb. (Dr) Patrick Dele Cole is Chairman of Airservice , Mr I. A Onoleye is Secretary. The Financial year was changed from March 31st to December 31st in 2006. The Annual general meeting would hold on the 15th of May at the Banquet Hall of Gateway hotel, Abeokuta.

Airservice is not a very good buy for now but there is room for a boom in the company. Watch out for details.

LONGMAN

Longman was incorporated in August 1961, as a book publishing company. It developed as an off shoot of the well known International company, Longman group UK limited, now known as Pearson Education Limited, Which is the world’s largest education business. Today Longman is the largest educational publisher in Nigeria with a total of 280 staff spread across the country. Longman was listed in Nigeria Stock Exchange on 23 July 1996 and the highest equity value in the publishing sector.

Chief E .I Ijewere currently serves as the chairman, Mr D.N Obidiegwu is the Director/CEO, and there are about 11 people on the board. Financial year ends 31st December, Longman has about 813,730,500 outstanding shares . Longman closed trading with N 24.47, it’s all time high N 23.25 and it’s lowest price N 23.25. With this Longman would make more in the coming year . Good buy.

University press

University press was founded in 1949 under the name Oxford university press Nigeria, grown to become one of the oldest ,most experienced and the nations foremost publishers of materials for educational and general reading .At incorporation in 1978,the company name was changed to university press with an authorized share capital of 8 million ordinary share of 50k each quoted on the Nigeria stock Exchange on 14th August 1978. UP plc .

UPplc closed trading on Friday with a N12.35 in about 19 deals and about 123,560 units worth over 1,555,778,40, Presently Dr. Lekan A Are is the chairman and Mr Samuel Kolawole serves as MD/CEO. .also 7 members are on the board. Financial year ends 31ST March.

UPplc unaudited results for 9 months ended 31 December 2007 with a turnover of N747.0 Million at against N568.2 million, profit before Tax N184.3 million at against N125.2 million in 2006.

Buying into University press would require professional advice and long term investment plan for investors.

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