Culled—Proshare November 10, 2016/CardinalStone Research FBN Holding Plc. (Revised TP: N3.21, Rating: Hold) held its conference call on the 26th of October, 2016. Please see below the group’s 9M’16 performance update and key highlights from the call. NPLs – still a big concern FBNH impairment charges have been rising rapidly […]
Results & Dividends
Unilever Nigeria Plc – Finance Costs Surprised Negatively
Culled—Proshare November 9, 2016/FBNQuest Research Modest cut to estimates; PT unchanged Unilever Nigeria’s Q3 2016 sales were stronger than we expected. However, PBT was weak and fell c.88% short of our estimate because of a negative surprise in net finance charges. As such, we have cut our earnings (pre-tax profit) […]
NSE Closes in Red 5th-Consecutive Session, Biggest Y-t-D
November 8, 2016/Cordros Research Equities extended decline to the fifth session in a row, with the All Share Index losing by 1.95% to close at 26,364.27 points. Today’s loss is the biggest since the 2.33% loss recorded on 2nd September this year. Following the decline, the market’s negative return has […]
