Culled—Proshare August 1, 2016/FBNQuest Research Event: Flour Mills of Nigeria (FMN) reports Q1 2017 (end-Jun) results Implications: Marked upward revisions to consensus 2017 PBT forecast likely Positives: PBT grew markedly by 394% y/y to N5.9bn mainly driven by a 45% y/y growth in sales. Negatives: No obvious negatives Late last […]
Updates
Fidelity Bank Plc Reports Q2 2016 Results; Shares Rated Underperform
Culled—Proshare August 1, 2016/FBNQuest Research Event: Fidelity Bank reports Q2 2016 results Implications: Negative reaction by the market likely Positives: Limited Negatives: Loan loss provisions grew markedly and surprised negatively, leading to PBT falling -54% y/y Fidelity Bank’s Q2 2016 results which were last week Friday showed that while PAT […]
Forte Oil Reports -11.8% Decline in H1 2016 in Profit
By InvestAdvocate Lagos (INVESTADVOCATE)-Oil marketer, Forte Oil Plc on Monday said profit after tax (PAT) for the half-year (H1) period ended June 30, 2016 declined 11.8 percent to N2.23 billion from N2.53 billion recorded a year ago. Pretax profit of the oil marketing company climbed up 30.9 percent to N4.26 […]
