Culled—Proshare November 10, 2016/DMO The Central Bank of Nigeria on the authority of The Debt Management Office on behalf of the Federal Government Of Nigeria Offers for Subscription by Auction and is authorized to receive applications for N35,000,000,000 – 14.50% FGN JUL 2021 (5-Year Re-opening)* N25,000,000,000 – 12.50% FGN JAN […]
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Unilever Nigeria Plc – Finance Costs Surprised Negatively
Culled—Proshare November 9, 2016/FBNQuest Research Modest cut to estimates; PT unchanged Unilever Nigeria’s Q3 2016 sales were stronger than we expected. However, PBT was weak and fell c.88% short of our estimate because of a negative surprise in net finance charges. As such, we have cut our earnings (pre-tax profit) […]
Unilever Nigeria Plc: Expensive! SELL!
November 8, 2016/Cordros Research Despite significant revenue and EBIT growth in Q3, UNILEVER recorded y/y and q/q PBT contractions, and would have posted a loss after tax, save for a tax credit (N449.8 million). The company’s production costs have risen quite significantly over the last two quarters, denying earnings the […]
