Culled—Proshare April 4, 2018/FBNQuest Research Event: FCMB Group reports Q4 2017 results Implications: Likely upward revisions to consensus 2018 estimates and positive reaction from the market Positives: PBT grew by 123% y/y, driven by solid growth in non-interest and funding income Negatives: Significant spike in loan loss provisions This afternoon […]
Investors Bite
ARM Fixed Income Strategy Diary – April 2018
Culled—Proshare April 4, 2018/ARM Research Based on consensus estimate, a lower yield environment is upon us. But how low and for how long remains a tough call with lots of guesstimates. In this piece, we analyze the current dynamics in the Fixed Income market and we provide a 12-month view […]
Unilever Nigeria Plc: Impressive 2017FY and Q4-17 results; SELL rating reiterated
April 4, 2018/Cordros Report Update: UNILEVER ended an impressive 2017FY with a strong Q4 performance. The full year revenue (+30% y/y), EBITDA (+107% y/y), and net profit (+143%) of NGN90.77 billion, NGN17.28 billion, and NGN7.45 billion beat consensus NGN89.49 billion, NGN13.46 billion, and NGN5.7 billion respectively. The result is broadly consistent […]
