Culled—-Proshare October 31, 2016/FBNQuest Research Late this morning, Okomu Oil (Okomu) reported Q3 2016 results which showed sales growth of 22% y/y to N3.4bn. PBT and PAT advanced by wider margins of 188% y/y and 60% y/y to N1.2bn and N581m respectively. The strong sales growth was mainly responsible for […]
Results & Dividends
PZ Cussons Nigeria Q1 2017 Results Review- FX Issues Bite Harder
October 31, 2016/FBNQuest Research Price target lowered by -2.7% PZ Cussons Nigeria’s (PZ) Q1 2017 (end-Aug) sales were 16.4% ahead of our forecast, helping the gross profit to beat by almost 50%. PZ’s parent company in the UK stated in a recently released trading statement that the company’s performance across […]
Seplat Plc Q3’16 Results – Improved Outlook on Forcados Resumption
Culled—Proshare October 31, 2016/Vetiva Research Net loss rises to $98 million in 9M’16 Production tracking close to our 27k boed 2016 estimate Update on alternative evacuation route Re-profiling of term loans to ease cash flow Crude lifting from Forcados terminal TP raised to N282.03 (Prev: N216.15) reflecting improved 2017 outlook […]
