Culled—Proshare March 22, 2017/ Implications: Downward revision to consensus likely Positives: Sales up 28.2% y/y and 16.8% q/q Negatives: PBT down -81.8% y/y Cadbury Nigeria reported Q4 2016 results this afternoon. Although the company grew sales by 28.2% y/y to N8.7bn, its PBT of N279m was -81.8% lower y/y. We […]
Updates
Access Bank Plc – Management to Continue Exploiting Opportunities in FX Derivatives
Culled—Proshare March 22, 2017/CardinalStone Research Access Bank of Nigeria Plc held its earnings conference call to explain its FY’16 results. We retain our target price (TP) to N8.32 and maintain our BUY rating on the counter. Kindly see below the key points from the conference call. Management explains exposure to […]
Oil Markets Recoil As Inventory Builds More Than Feared
Culled—Proshare March 22, 2017 By Julianne Geiger OilPrice.Com The American Petroleum Institute (API) reported a build of 4.529 million barrels in United States crude oil inventories against expert predictions that domestic supplies would see only a 2-million-barrel build. Oil prices had already fallen earlier on Tuesday in anticipation of a […]
