Culled—Proshare April 8, 2019/by FBNQuest Research 8% average cut to our 2019-21E EPS forecasts Unilever Nigeria’s (Unilever) FY 2018 performance was weighed down by weak Q4 earnings. The company made a pre-tax loss of –N30m during the quarter (compared with Q4 2017 PBT of N4.0bn) driven by a -865bp gross […]
Results & Dividends
Okomu Oil Palm Plc: Compelling growth story despite weak earnings
April 5, 2019/Cordros Report Update: We update on OKOMUOIL following the 2018FY results and our recent discussion with management. After the unimpressive performance in 2018FY, we forecast EPS to grow by 2.3% in 2019 and 24.6% average over 2020-2021E, with a TP of NGN93.62/s (previously NGN91.57/s). Our revised estimate is […]
Oando’s Plan to Deleverage and Remain Profitable
April 3, 2019/Reuters LAGOS (Reuters) – Nigerian oil company Oando aims to raise fresh capital over the next two years and repay debt used to acquire Conoco Phillips’ Nigerian assets, its chief executive Adewale Tinubu told Reuters. Oando has transformed itself in the past few years from a fuel retailer […]
