Culled—Proshare March 30, 2017/FBNQuest Research 9% reduction to our price target Cadbury Nigeria’s (Cadbury) Q4 2016 results rounded off a challenging 2016. Despite strong topline growth during the quarter, which was around 40% ahead of our estimate, and a recovery from losses in prior quarters (–N477m and –N1.1bn in Q2 […]

Culled—Proshare March 30, 2017/FBNQuest Research Increase to earnings estimates and price target Unilever Nigeria’s Q4 2016 results were better than we expected due to positive surprises on the sales and operating expenses lines. As such, we have increased our earnings estimates for the 2017-18E period significantly. On the back of […]

March 30, 2017/InvestmentOne Research Sterling Bank released its Q4 2016 results earlier today. Please find key highlights of the Q4 2016 results below: ·         Net interest income of N14.5bn, down -8.9% q/q; up +54.4% y/y ·         Loss before tax of –N71m ·         Loss after tax of –N374m Please click to […]