Culled—Proshare July 29, 2016/FBNQuest Research Event: Mobil Oil Nigeria (Mobil) reports Q2 2016 results Implications: Upward revision to consensus 2016 estimates expected Positives: Q2 sales of N27.6bn up 80% y/y; PBT up 87% y/y to N3.8bn Negatives: No obvious negatives Late yesterday, Mobil reported Q2 2016 results which showed impressive growth […]
Updates
Profit Warning: Caverton Offshore Says Q2’16 Profit to be Lower Due to Naira Devaluation
July 29, 2016/NSE Caverton Offshore Support Group Plc the leading provider of marine, aviation and logistics services to local and international oil and gas companies in Nigeria expects to report materially lower earnings for the period ending 30th June 2016 largely due to the unavoidable impact of the recent Naira […]
New FX Market in Need of Additional Supply
Culled—-Proshare July 29, 2016/FBNQuest Research The liberalisation of the exchange-rate regime on 20 June remains work in progress. The new unified rate opened at N280 per US dollar and was broadly stable until 16 July, when the CBN started to reduce its daily supply to the market. Because it is […]
