Culled—Proshare November 7, 2017/Vetiva Research Revenue prints in line with estimates, up 43% y/y PAT 9% below estimate on higher FX losses Strong cash position supports deleveraging strategy FY’17 EPS revised lower to reflect FX losses 9M’17 revenue in line, PAT marginally below estimate Still strongly supported by higher pricing […]
Results & Dividends
Upward Revision to 2017F Estimates; PAT and PBT to Grow y/y by 24.31% and 30.39%
November 6, 2017/Cordros Research In its recently released Q3-17 results, GUARANTY’s gross earnings declined by 19.85%y/y and 12.03% q/q (missed our estimate by 24.27%), with PBT (-1.06% y/y and -3.51% q/q) and PAT (-1.34% y/y and -72 bps q/q) consequently coming in lower (missed our estimates by 11.20% and 3.88% […]
Flour Mills of Nigeria Results Review: Earnings Continue to Surprise Positively
Culled—Proshare November 3, 2017/FBNQuest Research 10%+ increase to our 2018-20E EPS forecasts and price target Flour Mills of Nigeria’s (FMN) Q2 2018 (end-Sep) results surprised positively, making it the fourth consecutive quarter of positive earnings surprises. In terms of topline growth, management disclosed that sales growth of 10% y/y was […]
