Culled—Proshare April 16, 2018/FBNQuest Research Neutral rating maintained Dangote Sugar Refinery’s (DSR) Q4 2017 earnings of N13.3bn were up 210% y/y and well ahead of our estimate. Looking ahead, we have retained our capacity utilisation forecast of 55% for the Lagos Refinery because we are more assured of relatively improved […]
Results & Dividends
Sterling Bank Plc: Impressive full year performance supported by growth in NIR
April 16, 2018/Cordros Capital Sterling Bank Plc released its FY-2017 results, which showed growth across major line items, save for the Net interest income which recorded a decline in the full year. Gross earnings grew by 19.79% to NGN133.49 billion, while PBT and PAT increased by 43.47% and 65.12% to […]
Stanbic IBTC Holdings Q4 2017 Results Review -Strong Balance Sheet Growth to Support Future Earnings
Culled—Proshare April 16, 2018/Vetiva Research • Earnings in line with estimates, EPS up 69% y/y • FY’17 DPS of N1.10 (cumulative) vs. Vetiva estimate of ₦1.04 • Impressive loan and deposit growth, up 5% and 34% y/y respective/y • TP revised upward to #39.84, SELL rating maintained Top and bottom line beat estimates, significantly […]
