Culled—-Proshare July 20, 2016/FBNQuest Research Resumption of weak earnings in Q2 2016 Following Unilever Nigeria’s (Unilever) weaker-than-expected Q2 2016 numbers, we have cut our earnings estimates over the 2016-17E period by -48% on average. In addition, we have increased our risk-free rate assumption by 200bps to 14.5%. However, we have […]
Investors Bite
Nigerian Breweries Downgraded from Neutral to Underperform on weak Q2’16 Results
Culled—Proshare July 20, 2016/FBNQuest Research 15% cut to our EPS forecasts; moving rating to Underperform We downgrade our recommendation on Nigerian Breweries (NB) to Underperform from Neutral following its Q2 2016 results which came in weaker than expected. We have also cut our EPS forecasts by around 15% on average […]
CSCS Achieves 98.4% Dematerialisation Success Rate
19/7/2016/CSCS The Central Securities Clearing System (CSCS) Plc has disclosed that 98.4% of shares quoted on the Nigerian Stock Exchange are now available in an electronic format in CSCS depository leaving only 1.6% of share certificates still in physical certificate form. This disclosure was made recently by Mr. Joe Mekiliuwa, […]
