Culled—Proshare October 30, 2017/FBNQuest Research Event: Nestle Nigeria reports Q3 2017 results Implications: Neutral reaction expected by the market Positives: Q3 sales and PBT up 29% y/y and 117% y/y to N63.3bn and N10.0bn respectively; PAT of N6.4bn compare with a loss after tax of –N51m a year ago Negatives: Net […]
Results & Dividends
Dangote Sugar: Q3-17 PAT; Strong Performance Delivery
October 27, 2017/Cordros Research DANGSUGAR released Q3-17 result yesterday, showing revenue declined 1% y/y while EBITDA (226% y/y) and PAT (244% y/y) grew strongly. Continued stronger gross margin and tamed opex, primarily, in addition to higher investment income, was the lever for earnings growth. Annualized, the revenue and PAT reported […]
Access Bank: Declines in Loan Loss Provision, Opex Supported PAT Growth 26.04% Q/Q
October 27, 2017/Cordros Research Access Bank Plc (ACCESS) yesterday released its Q3-17 results, wherein gross earnings (9.31% q/q and 18.26% y/y, in line with our estimate) came in lower relative to Q2-17. This follows lackluster performance across income lines – interest income grew lower than expected (1.69% q/q and […]
