Culled—–Proshare August 11, 2016/FBNQuest Research 44% cut to our EPS forecasts; Neutral rating maintained In Q2 2016, Nestle Nigeria (Nestle) reported a loss before tax of –N7.8bn due to net fx losses of –N13.1bn. The latter resulted from revaluation of fx-denominated intercompany loans (c.US$120m) given the 30% slide of the […]
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Dividend warrant issuance to stop by June 2017
August 11, 2016/Punch Stanley Opara Come June 31, 2017, registrars operating in the country’s capital market will stop the issuance of dividend warrants to investors, the Securities and Exchange Commission has said. The directive, which will mandate registrars in the Nigerian capital market space to discontinue sending hard copy warrants […]
Dangote Sugar Refinery’s Rising costs Weigh on Growth Outlook
August 11, 2016/FBNQuest Research PT down 13% to N6.1 on the back of a higher discount rate Dangote Sugar Refinery’s (DSR) Q2 earnings beat our forecast by 24%. The drivers were better-than-expected sales and a positive surprise on the opex line. Sales were driven by growth in both pricing (25.1% […]
