Forte Oil Plc has emerged winner of ‘the overall highest award’ at the 2014 edition of the PEARL awards in addition to winning the Oil & Gas (petroleum products) sectoral award and share Price appreciation Market Excellence Award.
This is as Dangote Cement Plc also won the Industrial Goods (building material) Award under the Sectoral Leadership Award, while Continental Re-Insurance Plc emerged winner in the Financial Services (Insurance) category.
Other winners at the awards night held in Lagos on Sunday were Stanbic IBTC, which got the Financial Services (Other financial institution) sectoral award; UAC Plc, emerged the Conglomerates Sectoral Award winner; while Nigerian Breweries, won the Consumer Goods (Breweries) Sectoral Award winner, among others.
However, other companies that won the Market Excellence Awards include: Arbico Plc (Turnover Growth); Roads Nigeria Plc (Earnings Yield); Arbico Plc ( Return on Equity);
Sterling Bank Plc (Dividend Yield); Presco Plc (Dividend Cover); MRS Oil Nigeria Plc (Net Asset Ratio); Dangote Cement Plc (Profit Margin Ratio); Forte Oil Plc ( Share Price Appreciation).
Other Special Honorary Awardees include: Mr. Devakumar V .G Edwin, CEO, Dangote Cement Plc honoured with Most Outstanding CEO Award; Chief (Dr. ) Joseph Sanusi, former Central Bank of Nigeria, (CBN) Governor as the PEARL Special Recognition Award for Capital Market Development, Peter Egwuatu as Pearl Capital Market Journalist of the Year Award and Thisday Newspaper as the Media Award for Capital Market Reporting.
Speaking at the Awards Nite, the Chief Executive Officer, Pearls Awards, Mr. Tayo Orekoya in a welcome address explained that the major objectives of the awards was to engender healthy competition among quoted companies by rewarding excellence.
“It is gratifying to note with utmost satisfaction, the positive quest of companies not only to be nominated among the highflyers of the market but ultimately emerge as winners of coveted awards in the sectoral, market excellence awards categories and indeed, the overall highest award, the Pearl of the Nigerian Stock Market,” he said.
He said that the 2014 awards were determined utilizing nine key performance indices namely, turnover growth, return on equity, earnings yield, share price appreciations, dividend cover, dividend yield, net asset ratio, dividend growth and profit margin ratio.
Orekoya stated that the continuing success of the Pearl Awards is attributable to the dedication and commitment of the Awards research and collation committee, the central working committee and the members of the award’s board of governors.
PEARL( Performance Earnings and Returns Leadership) Awards Project is a non profit , non partisan and non-governmental initiative which had over the years positioned itself as one of the most credible, distinguished and respected corporate events in Nigeria. It was instituted in 1995 reward companies quoted on the capital market for operational and stock trading excellence, the PEAL Awards is Aldo endorsed by the Securities and Exchange a Commission, SEC, apex Nigerian capital market regulator
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