December 6, 2017/Cowry Assets Zenith Bank Records Average Performance In our assessment, relative to the banking industry, Zenith Bank Plc recorded average performance for 9mths to September 2017. Taking into consideration relevant ratios, we arrived at a ‘Bb’ rating. Given its performance, plus an upside of 15.62% to its target […]
Results & Dividends
FCMB Group Plc: Earnings Miss But Investment in Legacy Provides Optimism
Culled–Proshare November 27, 2017/Vetiva Research · PAT declines 58% y/y – 19% below our estimate · Lower FX income offsets benefit of moderating loan loss provision · Funding cost bites further – Interest Expense up 16% y/y Earnings miss estimates despite q/q growth FCMB released its 9M’17 result, reporting weaker […]
Unilever Nigeria Q2 and Q3 2017 Results Review: Longer Term Prospects Supported By Capital Raise
Culled—Proshare November 24, 2017/FBNQuest Research Increase to earnings estimates Unilever Nigeria successfully raised N58.9bn via a rights issue in September, adding 1.96bn shares to the existing 3.78bn shares. Management disclosed that the funds will be used to repay intercompany loans, support working capital and for capacity expansion. Between 2014 and […]
