November 22, 2016/Reuters Nigeria’s Union Bank plans to seek shareholder approval next month to raise 50 billion naira ($158.7 million) through a share sale to existing investors, the bank said on Tuesday. In a notice to shareholders, the lender also said it will seek approval to increase its authorised share […]
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Dangote Sugar Refinery Q3 2016 Results Review – Rising Costs Impeding Growth
Culled—Proshare November 22, 2016/FBNQuest Research Price target cut by 13% to N5.3; 2016/17E EPS ests. cut by 9% Dangote Sugar Refinery’s (DSR) Q3 2016 earnings declined -11% y/y and were behind our estimate by 23%. Although sales grew impressively both on a y/y and q/q basis, higher production and operating […]
Nigerian Breweries is Maintaining Underperform Rating on Weak Q3 2016 Results
Culled—Proshare November 22, 2016/FBNQuest Research PT unchanged despite 7% average cut to our EPS forecasts Following Nigerian Breweries’ (NB) Q3 2016 results which surprised negatively, we have cut our EPS forecasts by around 7% on average over the 2017-18E period. Despite the cuts to our EPS forecasts, our price target […]
