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 […]
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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) […]
11 Plc Q2 2018 Results Reviews – PAT grew by 126% YoY to N2.7bn
Culled—Proshare July 27, 2018/FBNQuest Capital Event: 11 PLC (11) reports better-than-expected Q2 2018 results Implications: Upward adjustment to consensus estimates expected following better-than-expected results. Compared with our estimates, while sales were in line with our N40.4bn forecast, PBT beat by c.22%. The variance was driven by positive surprises on the […]
