October 22, 2019/Cordros Report Event: OKOMUOIL recently published Q3-19 results, showing significant improvement across key lines – revenue (+86.3% y/y), PBT (+83.8% y/y), and PAT (+21.8% y/y).  However, given the weak H1-19 performance, cumulative PAT is down 43.2% y/y, cascading to a 9M-19 EPS of NGN4.31 (vs. NGN7.59 over 9M-18). Similarly, […]

October 22, 2019/Cordros Report FBNH recently released unaudited 9M-19 numbers, which was decent and generally in line with expectations. Gross earnings declined moderately by 0.4% y/y, while profitability increased by 15.3% y/y given the decline in credit impairment charges. Nonetheless, the Holdco’s result showed some fragility as capital adequacy levels […]

October 22, 2019 By Pascal IJEH InvestAdvocate Lagos (INVESTADVOCATE)-Africa’s global lender, the United Bank for Africa Plc (UBA) on Monday reported a post-tax profit of N81.63 billion in its third quarter report ended September 30, 2019 compared to N61.69 billion recorded the same period of 2019. Pre-tax profit of the […]