Culled—Proshare February 16, 2017/ARM Research Yesterday, Heineken put out its FY 16 numbers which showed organic growth in revenue of 4.8% with proceeds per hectoliter up 2.2%. However, read-through over Africa highlights weak operating performance with specific mention of the adverse impact of naira weakness on results in Nigeria. Although, […]

February 14, 2017/FMDQ OTC Securities Exchange In consolidation of the strategic and value-adding initiatives spearheaded by FMDQ OTC Securities Exchange (“FMDQ” or “the OTC Exchange”) in developing the Nigerian financial markets, the OTC Exchange, in an unprecedented event in the history of the Nigerian debt capital market (DCM), is set […]

Culled—Proshare February 14, 2017/ARM Research In keeping with the theme of Valentine’s Day, we beam our strategy searchlight on one name struggling to find love. In recent weeks, Nestle Nigeria Plc has shed 23% YTD to near five-year lows underperforming the broader NSEASI. Naira weakness exposes earnings Achilles heel  Over […]