Culled—Proshare October 30, 2017/FBNQuest Research Event: Nestle Nigeria reports Q3 2017 results Implications: Neutral reaction expected by the market Positives: Q3 sales and PBT up 29% y/y and 117% y/y to N63.3bn and N10.0bn respectively; PAT of N6.4bn compare with a loss after tax of –N51m a year ago Negatives: Net […]
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Union Bank N50 Billion Rights Issue Closes October 30, 2017
October 30, 2017/Cordros Research UBN) Rights Issue, opened on 20 Sept, 2017, will close today, 30 October 2017. Use of Proceeds: 80% of proceeds to be used as working capital 12% of proceeds to be invested in technology, innovation and digitalization 8% of proceeds to be invested in customer touch […]
Cordros Weekly Stock Recommendation October 30, 2017
October 30, 2017/Cordros Research CADBURY NIGERIA PLC (CADBURY) – SELL ▪ The shares of CADBURY appreciated 0.48% last week to N10.55. CADBURY trades at a significant forward PE above its 5-year historical average of 24.9x. ▪ CADBURY published Q3-17 result last week, showing revenue growth of 9.3% y/y and PAT […]
