January 22, 2018/NSE/CBi The Steering Board of the Corporate Governance Rating System (CGRS) is pleased to announce that 25 companies have successfully passed its rating test, having scored the required pass mark of 70% whilst 87 others are at various stages of completion of the process. These 25 successful companies […]
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UAC of Nigeria Q3 2017 Results Review – Waiting for Underlying Business to Recover
Culled—Proshare January 22, 2018/BNQuest Research Outperform rating maintained UAC of Nigeria’s (UACN) Q3 2017 earnings declined by -67% y/y to N602m but came in well ahead of our N358m estimate. The variance was primarily driven by a positive surprise on the other income line. This relates to income accrued from […]
Guinness Nigeria- Potential impact of capital raise priced in
Culled—Proshare January 22, 2018/FBNQuest Research EPS and PT upgrade; downgrading to Underperform Late last year, Guinness Nigeria (GN) successfully raised N40bn via a rights issue, adding 648m shares to its existing 1.5bn shares. The company used much of the proceeds from the rights issue to deleverage its balance sheet and […]
