Culled—Proshare November 1, 2016/FBNQuest Research Event: International Breweries reports Q2 2017 (end-Sep) results Implications: Downward revision to consensus estimates expected Positives: Sales of N6.6bn were up 35% y/y and 12% ahead of our estimates Negatives: Pre-tax and post-tax losses of –N216m Late yesterday, the NSE published International Breweries’ Q2 2017 […]
Results & Dividends
Ashaka Cement Plc Records Slight Fall in OPEX in Q3’16 Results
Culled—Proshare November 1, 2016/FBNQuest Research Event: Ashaka Cement (Ashaka) reports Q3 2016 results Implications: Likely downward revisions to consensus 2016E PBT forecast likely Positives: Slight y/y fall in opex which surprised positively Negatives: Ashaka reported a pre-tax loss of –N648m, driven by elevated COGs and a -16% y/y decline in […]
Mobil Oil Nigeria Plc – Subdued Q3 but still up for record FY
Culled—Proshare November 1, 2016/Vetiva Research Soft revenue in traditionally weak Q3 Forecast cut to account for weak quarter Margins contract as currency woes bite Still up for a record FY TP revised to N206.30 (Previous: N214.82) Shares downgraded to HOLD after post liberalization rally Soft Q3 revenue MOBIL reported subdued […]
