August 30, 2016/InvestmentOne Research Maintaining sell rating on Nigerian Breweries Plc NB’s Q2 2016 results showed moderation in sales and a spike in net finance cost which weighed on bottom-line performance. Relative to our estimate, sales was down by over -4% y/y while PBT declined by -29% y/y, due largely […]
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PZ Cussons Nigeria Maintains Underperform Rating; Sombre Outlook for 2017
Culled—Proshare August 30, 2016/FBNQuest Research Earnings and price target revised downwards PZ Cussons Nigeria’s (PZ) reported another set of weak results in Q4 2016 (end-May). Although sales and PBT were in line with our estimates, we expect the adverse impact of the weak macroeconomic environment on the company to persist […]
SEC Alerts Public on Activities of “MMM Federal Republic of Nigeria” Online Investment Scheme
August 30, 2016/SEC The attention of the Securities and Exchange Commission, Nigeria (“SEC”) has been drawn to the activities of an online investment scheme tagged ‘MMM Federal Republic of Nigeria (nigeria.mmm.net). The platform has embarked on an aggressive online media campaign to lure the investing public to participate in what […]
