Culled—Proshare August 3, 2017/FBNQuest Research Neutral rating maintained Nestle Nigeria (Nestle) posted earnings of N8.2bn compared with a loss of –N6.2bn in Q2 2016. We draw many positives from these results such as gross margin expansion and a strong interest income line, which was up by more than 600% y/y […]
Results & Dividends
Presco Reports Q2 2017 Results; Sales Up by 30.4% YoY
Culled—Proshare August 3, 2017/FBNQuest Research Event: Presco reports Q2 2017 results Implications: Positive market reaction expected Positives: Q2 2017 sales up 30.4% y/y, PBT up 10.1% y/y Negatives: Opex growth of 28% y/y came in higher than we expected; -N243m fx loss Presco reported its Q2 […]
MTN returns to first-half profit after turbulent 2016
August 3, 2017/Reuters MTN Group, Africa’s biggest mobile phone operator, returned to first-half profit on Thursday, marking a move away from a turbulent 2016 that highlighted the risks of the company’s emerging markets strategy. The results were bolstered by the absence of charges related to a $1.1 billion fine imposed […]
