Culled—Proshare August 10, 2020 by FBNQuest Research Softer outlook for 2021E on the back of covid-related delays Okomu Oil (Okomu) published strong Q2 2020 results. Earnings were up 30% y/y to N2.0bn and were in line with our expectations. The pandemic-related lockdown had a marginal negative near-term impact on both […]

August 7, 2020/InvestmentOne Report Net interest income of N71.02million, up 17.87%q/q , up 1.41%y/y       ·         Non-interest income of N30.36billion, down 38.95%q/q, up 7.47%y/y. ·         Profit before tax of N12.73billion, down 55.60%q/q, down 31.11% y/y. ·         Profit after tax of N23.76billion, down 7.54%y/y, up 49.93%y/y.  Jump in Impairment Weakens Earnings […]

Culled—Proshare August 6, 2020 by FBNQuest Research Modest increase to 2020-22E EPS forecasts Nestle Nigeria’s (Nestle) Q2 PBT was down -23% y/y on account of a gross margin contraction of -751bps y/y, reflective of an fx-induced inflationary environment. The company sources the majority of its raw materials locally, but the […]