Culled—Proshare March 28, 2017/FBNQuest Research Event: FCMB Group reports Q4 2016 results Implications: Neutral reaction expected from the market Positives: Positive surprise on provisions; other comprehensive income grew by 132% y/y to N2.6bn Negatives: Profit before provisions fell -10% y/y and surprised negatively This afternoon, The NSE published FCMB Holdings’ […]

Culled—Proshare March 28, 2017/Vetiva Research ·         Q3’16/17 revenue beats estimates, up 44% q/q ·         Margins improve slightly as lower OPEX cushions FX loss ·         ₦1.9 billion Q3’16/17 PAT better than ₦1.5 billion estimate Seasonally stronger Q3 delivers 44% q/q revenue growth Supported by traditionally stronger volumes in the period and […]

Culled—Proshare March 27, 2017/CardinalStone Research Guaranty Trust Bank of Nigeria Plc held its earnings conference call to explain its FY’16 results. We retain our target price (TP) of N32.68 and maintain our BUY rating on the counter. Kindly see below the key points from the conference call. Impairments charges to […]