November 10, 2016/AMCON The Chairman of Senate Committee on Banking, Insurance and other Financial Institutions, Senator Rafiu Ibrahim yesterday in Uyo hinted that the time would soon run out on recalcitrant obligors of Asset Management Corporation of Nigeria (AMCON), given the renewed commitment of the Senate to build strategic collaborations […]
Updates
Cement Company of Northern Nigeria Plc – Weak Topline, Cost Pressure Derail Q3’16 Earnings
Culled—Proshare November 10, 2016/Vetiva Research CCNN’s 9M’16 PAT was down 56% y/y to N0.7 billion (Vetiva estimate: N1.0 billion) following a disappointing Q3. Despite q/q increase in cement prices (46% price hike only took effect from September), revenue over the 3-month period declined 5% q/q to N2.7 billion and suggests […]
FBN Holding Plc. Earnings Update -Huge Impairment charges, TP cut down to N3.21, downgraded to Hold
Culled—Proshare November 10, 2016/CardinalStone Research FBN Holding Plc. (Revised TP: N3.21, Rating: Hold) held its conference call on the 26th of October, 2016. Please see below the group’s 9M’16 performance update and key highlights from the call. NPLs – still a big concern FBNH impairment charges have been rising rapidly […]
