MD Forcasts Growth For Coy In 2013

The Managing Director of Partnership Investment Company
Plc., Mr Victor Ogiemwonyi,  says the
company would extend its services to bonds trading over the counter (OTC) in
2013.

He also said that the company, which specialises in
investment advisory services and equity trading, would also join the National
Settlement Depository (NSD) next year.

Ogiemwonyi  provided
the company’s expansion plans while addressing shareholders at its 20th annual
general meeting (AGM) in Lagos.

The managing director assured the shareholders that the
expansion would create long-term values and returns on their investments.

He said that the company was not averse to seeking listing
on the Nigerian Stock Exchange (NSE), stressing that they were only
consolidating their activities for the nation’s challenged investment services.

Mr Cosmas Irune, the chairman of the company, had said
earlier that the declining fortunes of the capital market and nationalisation
of three banks eroded investors’ confidence in the market.

Irune identified other factors which impacted negatively on
investors’ confidence as the de-listing of some quoted companies, national
security challenges and difficult economic environment.

The chairman urged the Securities and Exchange Commission to
create an enabling environment that would ensure market discipline,
accountability and transparency.

The Tide reports that many of the company’s shareholders
lauded its board and management for staying above board, in spite of the
down  turn in the nation’s bourse.

They said that the five kobo dividend offered them was an
attestation to the company’s commitment to alleviating their burden.

Meanwhile, the company’s gross earnings as at Dec. 31, 2011,
stood at N1.89 billion, up from N1.56 billion in 2010.

However, its profit after tax dipped to N275.18 million in 2011
compared with N294.39 million in 2010.