July 26, 2016/InvestmentOne Research FBNH’s recently released results Q2 2016 were reflective of the depreciation of the local currency at the interbank market. This contributed to the significant spike in net gains on FX to N51.5bn in Q2 2016 against N1.4bn in Q1 2016. However, it also lead to the […]
Results & Dividends
Flour Mills of Nigeria Reports Pre-tax Loss of –N8.3bn in Q4’16
Culled—–Proshare July 26, 2016 / FBNQuest Research Event: Flour Mills of Nigerian (FMN) reports Q4 2016 (end-Mar) results Implications: Likely downward revisions to consensus 2017 PBT forecast Positives: No obvious positives Negatives: FMN reported a pre-tax loss of –N8.3bn, driven mainly by a 48% y/y and 58% y/y rise in […]
Flour Mills of Nigeria Plc: UNICEM Sale Masks Earnings Challenge
Culled—-Proshare July 25, 2016/Vetiva Research FY’16 revenue ahead of Vetiva estimate N23.7 billion exceptional income boosts EPS 70% y/y Board proposes dividend of N1.00 per share (FY’2015: N2.10) Downward revision to FY’17 EPS TP revised lower to N23.41 (Prev: N43.93) on challenging outlook Revenue growth ahead of Vetiva estimate Despite […]
