August 11, 2017/InvestmentOne Research NIGERIA | EQUITIES | BANKING | ZENITH BANK PLC Q2 2017 results highlight: Surge in loan impairment charges weighs on gains from FX trading · Net interest income of N68.36bn, down -3.2% q/q; -0.7% y/y · Profit before tax of N47.98bn, up +8.6% q/q; +120.3% y/y […]
Results & Dividends
Flour Mills of Nigeria Q4 2017 & Q1 2018 Results Review – Maintaining OP Rating on Strong Q1 Results
Culled—Proshare August 10, 2017/FBNQuest Research Material increases to our EPS f’csts and PT; maintaining OP rating Flour Mills of Nigeria’s (FMN) Q1 2018 (end-Jun) and Q4 2017(end-Mar) results came in ahead of our forecasts. In Q1 2018, the key driver behind the positive earnings surprise was solid topline growth of […]
Dangote Sugar Refinery Q2 2017 Results Review – Higher Pricing Key Driver for Earnings Growth
Culled—Proshare August 10, 2017/FBNQuest Research 2017/18E EPS ests. up by 85%; price target up by 120% to N15.6 Dangote Sugar Refinery’s (DSR) Q2 2017 earnings of N12.3bn surprised positively, coming in well ahead of our N5.5bn forecast and consensus’ full year projections. The primary driver was the variance on the […]
