Culled—Proshare August 17, 2017/FBNQuest Research 7% cut to our EPS estimates over the 2017-18E period UACN’s earnings remain under pressure from rising costs across its various businesses. The firm posted PAT of N450m, down -37% y/y and -18% q/q respectively. The food & beverage segment accounted for c.82% of Q2 […]

Culled—Proshare August 17, 2017/FBNQuest Research Retaining UP rating despite 28% increase to our price target  Nigerian Breweries’ (NB) Q2 2017 results showed marked y/y growth across key headline items. The results were mainly boosted by higher pricing relative to the prior year. On its Q2 2017 conference call, the management […]

Culled—Proshare August 16, 2017/FBNQuest Research Modest upward revisions to our estimates and price target  Okomu Oil’s (Okomu) Q2 2017 results came in stronger than we expected mainly because of a positive surprise on the gross margin line. Consequently, we have increased our earnings estimate over the 2017-18E period by 10% […]