May 2, 2018/Cordros Report Update: CCNN started 2018 on an impressive note, reporting EPS growth of 111% y/y to NGN0.86, which when annualized, is almost 2x market expectation. The EPS is only 9% below the company’s single-quarter best of NGN0.95 recorded in Q4-17. The impressive Q1-18 performance is broad-based, and […]
Results & Dividends
Nestle Nigeria Q1-18 EPS behind expectation; slight downward revision to 2018E estimate
May 2, 2018/Cordros Report Update: NESTLE recently published Q1-18 result showing EPS grew by a marginal 3% y/y to NGN10.86, which is behind what the market expects for the period by 15%. Compared to our estimate, the achieved EBIT was short by 1% while EPS missed by 25%, owing to […]
FBNH – Unconvincing Start To The Year As Earnings Miss Estimates; TP Revised to N12.82 (N15.88)
Culled—Proshare May 1, 2018/Vetiva Research Highlights of Vetiva Analyst Report • Earnings lag estimates – PAT down 9% y/y • Higher than expected loan loss provisioning drags bottom line • Lower than expected one-time charge from IFRS 9 implementation • Loan loss provision revised higher to reflect Q1’18 run rate Earnings Lag Estimates – […]
