Culled—Proshare August 10, 2017/FBNQuest Research Event: Zenith Bank reports Q2 2017 results Implications: Upward revisions to consensus full year PBT forecasts likely Positives: PBT up 120% y/y, driven mainly by a 389% y/y growth in non-interest income Negatives: Funding income was flat y/y; loan loss impairments and opex spiked This afternoon […]

Culled—Proshare August 10, 2017/FBNQuest Research Input cost pressures weighed on earnings Cadbury Nigeria’s (Cadbury) 20.6% y/y sales growth in Q2 2017 was 9.1% ahead of our forecast. Both domestic and export sales were impressive, with 21.6% and 13.1% y/y increases. Despite the topline growth, the company recorded losses on both […]

August 10, 2017/InvestmentOne Research Zenith Bank released its Q2 2017 results earlier today. Please find key highlights of the Q2 2017 results below: ·         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; +54.0% y/y ·         Profit after tax of […]