August 12, 2016/Cordros Research FLOURMILL’s Q1-16/17 numbers outperformed consensus, with EBIT and PBT respectively growing by 56.9% y/y and 394.3% y/y. Key drivers were the significant growth in gross profit and decline in finance charges. Given the strong start to the year, albeit acknowledging underlying downside risks, we have revised […]
Investors Bite
Zenith Bank Plc Earnings Miss as Loan Loss Expense Pressures PAT
Culled—-Proshare August 12, 2016/Vetiva Research Strong Q2 top line up 16% q/q, 10% ahead of Vetiva estimate Loan loss doubles, up to N14.2 billion Devaluation supports credit growth, up 15% ytd Board of Directors declare N0.25 interim dividend PAT bows to higher provision and tax ZENITHBANK’s H1’16 results showed weaker […]
Sukuk Bond Issuance Shifted Till 2017
10/8/2016/The Will The Securities and Exchange Commission has declared that the sovereign Sukuk bond initially scheduled for third quarter of 2016 would now be issued in the first quarter of 2017. Mr Mounir Gwarzo, SEC Director-General, made this known on Wednesday at the commission’s Capital Market Committee second quarter media […]
