Culled—Proshare August 10, 2017/FBNQuest Research Material increases to our EPS f’csts and PT; maintaining OP rating Flour Mills of Nigeria’s (FMN) Q1 2018 (end-Jun) and Q4 2017(end-Mar) results came in ahead of our forecasts. In Q1 2018, the key driver behind the positive earnings surprise was solid topline growth of […]
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Dangote Sugar Refinery Q2 2017 Results Review – Higher Pricing Key Driver for Earnings Growth
Culled—Proshare August 10, 2017/FBNQuest Research 2017/18E EPS ests. up by 85%; price target up by 120% to N15.6 Dangote Sugar Refinery’s (DSR) Q2 2017 earnings of N12.3bn surprised positively, coming in well ahead of our N5.5bn forecast and consensus’ full year projections. The primary driver was the variance on the […]
Zenith Bank Reports Q2 2017 Results – Loan Loss Impairments and OPEX Spiked
Culled—Proshare August 10, 2017/FBNQuest Research Event: Zenith Bank reports Q2 2017 results Implications: Upward revisions to consensus full year PBT forecasts likely Positives: PBT up 120% y/y, driven mainly by a 389% y/y growth in non-interest income Negatives: Funding income was flat y/y; loan loss impairments and opex spiked This afternoon […]
