August 11, 2016/FBNQuest Research Event: Zenith Bank reports Q2 2016 results Implications: Underlying results (PBT) tracking in line with full year guidance (N126bn) Positives: Significant fx-related OCI gains boosted PAT; underlying results healthy Negatives: Marked y/y increase in loan loss provisions Zenith Bank’s Q2 2016 results which were published this […]
Updates
NSE Revises Bond Listing,Trading Fees
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, […]
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 […]
