Culled—Proshare September 5, 2017/FBNQuest Research Event: Guinness Nigeria reports Q4 2017 (end-Jun) results Implications: Upward revisions to consensus forecasts expected Positives: Sales up 11% y/y, PBT and PAT recovered to N5.1bn and N4.5bn from pre-tax and after-tax losses in Q4 2016 respectively Negatives: Gross margin contracted […]
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Fidelity Bank – Still Worth Holding, On FY Dividend Expectations
Culled—Proshare September 5, 2017/FBNQuest Research Ytd rally limits upside potential Similar to our results review after Fidelity Bank’s Q1 2017 results, we have increased our PBT forecasts over the 2017-18E period modestly, despite the bank’s Q2 2017 results coming in well ahead of expectations. Focusing on 2017 specifically, the modest […]
Unilever NigeriaN58.8Billion Rights Issue Close September 8, 2017
September 5, 2017/Cordros Capital Unilever Nigeria Plc’s (UNILEVER) Rights Issue, opened on 31 July, 2017, will close on Friday, 08 September 2017. The Rights Issue is being undertaken to enable UNILEVER repay its various outstanding loan obligations and to support working capital. Details of the Rights: Being Issued – […]
