August 11, 2016/NSE The Nigerian Stock Exchange (NSE or “The Exchange”) has announced the revision of the listing and trading fees for securities listed and traded on its Fixed Income Market. The revised fee structure which is effective August 17, 2016, will be piloted for an initial six month period, […]
Updates
FX – Biggest Risk to Nestle’s Earnings Outlook
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 […]
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% […]
