Culled—Proshare September 27, 2017/FBNQuest Research Earnings and price target revised upwards PZ Cussons Nigeria’s (PZ) delivered another set of strong numbers in Q4 2017 (end-May), similar to the prior quarter. Sales were 10.8% ahead of our forecast, impacted primarily by a favourable price-volume mix. Its parent company, PZ Cussons, had […]
Results & Dividends
Presco Q2 2017 Results Review: In Line for a Record Year
Culled—Proshare September 22, 2017/FBNQuest Research Maintaining Outperform rating Presco’s Q2 2017 topline growth surprised slightly, beating our forecast by 10.7%. The company continues to benefit from increased demand thanks to supportive government policy. This has also given it increased pricing power. Presco has so far this year consolidated on its […]
FCMB Plc: A forgotten star?
Culled—Proshare September 11, 2017/ARM Research Following a dramatic share price decline (-23% from the year-peak of N1.42), FCMB now looks attractively valued among our Tier 2 coverage and thus offers legroom for tactical play. The bank trades at a P/B of 0.1x compared to peer average of 0.8x and its […]
