Culled—Proshare November 29, 2019 By FBNQuest Research Marked increases to earnings forecasts UACN’s Q3 2019 PBT beat our forecast by 87%, thanks to robust non-operating gains from other ancillary segments, and management’s restructuring exercise which we had not yet modelled. Post-restructuring, the loss-making real estate business – which recorded a […]
Results & Dividends
Lafarge Africa Q3 2019 Results Review: Shares Significantly Undervalued
Culled—Proshare November 25, 2019 By FBNQuest Research Retaining OP rating despite cuts to our EPS forecasts & price target Although Lafarge Africa’s (Lafarge) Q3 2019 PBT of N4.7bn improved markedly on a y/y basis (from a pretax loss of -N4.7bn Q3 2018), PBT missed our forecast by a sizable margin. […]
FIDELITYBK 9M 2019: Write-Back Supports Earnings Growth
Culled—Proshare November 22, 2019 Meristem Research Double-digit Growth in Gross Earning and Profit Fidelity Bank Plc. continued its decent run in 2019, recording double-digit growth in gross earnings (+15.87%), driven by growths across its income streams; Interest income (+12.22%) and non-interest income (+13.06%). Although the average yield on earning assets […]
