30/4/2018/Cordros Capital Update: GUINNESS reported 40% y/y increase in Q3-18 net profit (EPS: -4% y/y), coming off better-than-expected revenue growth, and relatively lower operating expenses and finance charges. Both masked a disappointing gross margin, which has now weakened for four quarters in a row. Compared to consensus, the reported net […]
Results & Dividends
Oando Impressive: Posts N19.8 Billion Profit After Tax in 2017
By Abdulquddus OKELE InvestAdvocate Lagos (INVESTADVOCATE)-Dual listed oil marketing major, Oando Plc late Friday posted an impressive result as it reported profit after tax (PAT) for the period ended December 31, 2017 grew 405 percent to N19.8 billion from N3.9 billion recorded a year ago. Gross profit increased 81 percent to […]
FCMB Group Reports Q1 2018 Results – Pre-provision Profits Declined by 24% Q0Q
Culled—Proshare April 27, 2018/FBNQuest Research Event: FCMB Group reports Q1 2018 results Implications: Limited revisions to consensus 2018 PBT forecast. Positives: PBT grew by 64% y/y, driven by strong double-digit growth in funding income Negatives: Pre-provision profits declined by 24% q/q driven by q/q reduction in both revenue lines. This […]
