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 […]
Results & Dividends
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 […]
Diamond Bank Plc – Earnings Sink on Higher Loan Loss Expense
Culled—Proshare November 1, 2016/FBNQuest Research • PAT down 78% y/y – behind Vetiva and Consensus estimates • Loss posted in Q3’16 standalone • Worrisome signs ahead, Earnings revised lower • TP revised to N3.17 (Previous: N4.29) PAT sinks amidst weak top line growth DIAMONDBNK released 9M’16 results showing weaker quarterly […]
