April 25, 2018/Ecobank Ecobank Transnational Incorporated (“Ecobank”) (www.Ecobank.com), parent of the Ecobank Group, the leading pan-African bank with operations in 36 countries across the continent, concluded its 30th Annual General Meeting in Lomé, Togo, today. Shareholders welcomed Ecobank’s return to profit for the year to 31 December 2017 as they […]
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UBA Plc Q1 2018 – Upgrading to Outperform Post Recent Weakness
Culled-Proshare April 25, 2018/FBNQuest Research 15% upgrade to our price target due to 100bp cut in risk free rate UBA’s Q1 2018 PAT beat our forecast by a significant margin. However, the surprise was driven by other comprehensive income (OCI) of N11.2bn. Further up the P&L, PBT was slightly behind […]
Unilever Nigeria Plc Q1 2018 – Is Unilever Topping Out?
Culled—-Proshare April 25, 2018/ARM Research Unilever Nigeria Plc (Unilever) began the 2018 financial year positive reporting impressive EPS of N0.50 (+19.1% YoY) which was largely in line with our expectation (ARM forecast: N0.49). Broadly, earnings growth reflected volume-led revenue growth (+16.4% YoY to N25.8 billion) and lower operating expenses to […]
