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 […]
Results & Dividends
Unilever Nigeria Plc: Expensive! SELL!
November 8, 2016/Cordros Research Despite significant revenue and EBIT growth in Q3, UNILEVER recorded y/y and q/q PBT contractions, and would have posted a loss after tax, save for a tax credit (N449.8 million). The company’s production costs have risen quite significantly over the last two quarters, denying earnings the […]
Flour Mills of Nigeria Plc – ₦9 billion FX Losses Debase Strong Topline growth
Culled—Proshare November 8, 2016/Vetiva Research Strong revenue performance persists, up 44% y/y Gross margin improves 400bps y/y to 14% FX loss undercuts earnings, Q2’17 PAT down 60% q/q TP revised upwards on improved earnings trajectory Improved revenue profile on better volume performance, price Buoyed by the strongest quarterly revenue performance […]
