Culled—Proshare April 24, 2018/FBNQuest Research 10% inc. to our price target driven by 100bp cut to risk free rate GT Bank’s (GTB) Q1 2018 PBT came in only slightly ahead of our forecast. Consequently, we have raised our 2018-19E forecasts by just a touch (c.1.2%). However, our new price target […]
Results & Dividends
Nigerian Breweries: Q1-18: Revenue decline and higher finance charges outweigh improvement in gross profit margin
April 24, 2018/Cordros Report Update: NB published its Q1-2018 result yesterday, showing revenue contracted at single-digit and finance charge increased at high double-digit y/y. Both outweighed the improvement in gross profit margin and the decline in opex, resulting in PBT and PAT coming short by 13% and 11% y/y respectively. […]
ETI 2017 Results In Light Of Guidance From Fitch And PWC On Exchange Rates Per IFRS
Culled—Proshare April 24, 2018/By FinRep SA / TheAnalyst Ecobank (ETI) reported full year earnings for 2017 in NGN and US Dollars. US Dollar reporting is of critical importance as ETI is based in Togo and its major shareholders (Four foreign shareholders make up 68.9% = Nedbank 21.2%, QNB 20.1%, IFC […]
