July 27, 2018/Cordros Report Update: UNILEVER published H1-18 result last week, with first quarter numbers restated. For the three months ended June (Q2), revenue grew 7.5% y/y, while EBIT was down 24% y/y. PAT grew by 36% y/y, thanks to net finance income of NGN1 billion (vs. loss of NGN780 […]
Investors Bite
OKOMUOIL: Volume, Price, Cost Pressures Necessitate Earnings Revision; Downgraded to HOLD
July 27, 2018/Cordros Report Update: OKOMUOIL recently released Q2-18 result, showing operational weakness, marked by lower revenue (-15% y/y), EBIT (-35% y/y), and net profit (-22%). Sales outturn (dragged by a combination of weaker volume and price) fell short of our expectation by 28% while earnings was 30% below our […]
Gains Resurfaces on Nigerian Bourse, Halting Three-Weeks Losing Streak
July 27, 2018 By InvestAdvocate Lagos (INVESTADVOCATE)-Gains resurfaced in the equities market, halting the three-week losing streak, as the benchmark index inched up 0.09 percent to 36,636.97 points, amidst bargain hunting and investor reactions to corporate releases, according to Cordros weekly market report. “As a result, the Month-to-Date (-4.29 percent) […]
