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Sunday, July 5, 2020

Nestle Nigeria Plc 2019FY: Q4 Earnings Weighed by Higher Effective Tax

Event: NESTLE published Q4-19 and 2019FY results yesterday, which showed that the company’s EPS declined by 10.6% y/y in Q4. The y/y EPS decline was weighed by higher finance costs and effective tax rate, both of which offset the strong operational performance. On the...

UBA FY-19 First Glance: Strong FY-19 Performance Recorded

UBA PLC recently released its audited FY-19 numbers, which showed that the bank recorded a 14.6% y/y EPS growth to NGN2.52 for the fiscal year. The momentum which was witnessed through most of the year tailed off a bit in Q4, however, that wasn’t...

Dangote Cement Plc 2019FY-Price War: Unwarranted Pandemonium

Relative to 2019, when we were impulsive on cement prices, we struggle to any material upside for selling prices going forward. Management reiterated its commitment towards keeping prices stable while maintaining market share despite the aggressive competitive landscape especially in Nigeria; we have a...

GTBank 2019FY First Glance: Industry-Best Efficiency Supports Performance

GUARANTY recently released its audited FY-19 numbers, which were in line with the performances posted right through the quarters of the year. EPS settled 6.4% higher year-on-year at NGN6.96/s. The performance was supported by moderate growth in both interest and non-interest income, alongside industry-best...

MANSARD Notifies Of Board Changes; Approves New Executive Directors Subject to Regulatory Approval

AXA Mansard Insurance Plc. (the Company) wishes to notify The Nigerian Stock Exchange (The Exchange), esteemed shareholders, stakeholders and the public of the resignation of Mr. Tosin Runsewe as Executive Director effective January 31, 2020 to pursue his other ambitions outside the group....

STANBIC IBTC Holdings Notifies Of Board Meeting; To Discuss 2019 AFS and Proposed Dividend

In accordance with the provisions of Section 1.2 of the Rules of The Nigerian Stock Exchange (The NSE) relating to Board Meetings and General Meetings of Issuers, we would like to notify The NSE and our Shareholders, that a meeting of the Board of...

Discovering Opportunities in Financing of Nigeria’s Infrastructure Deficit – Toyin Sanni

by Bukola Akinyele With Nigeria's need to invest in infrastructure to unlock the economy and create more jobs, the prospects for increasing financing through alternative sources came to the fore at a recent Islamic Finance forum in Lagos. The forum explored how to deepen...

Moody’s Affirms Interswitch’s Ratings; Outlook Remains Stable

Moody's Investors Service ("Moody's") has today affirmed the B2 Corporate Family Rating (CFR) of Interswitch Limited (Interswitch). Moody has also affirmed the (P)B2 senior unsecured programme ratings of Interswitch Africa One Plc, a special purpose vehicle owned by Interswitch. The outlooks remain stable. The action...

Fitch Affirms Stanbic IBTC Bank at ‘AAA(nga)’

Fitch Ratings has affirmed the National Long-Term Ratings of Stanbic IBTC Bank PLC (SIBTC) and its non-operating holding company, Stanbic IBTC Holding Company PLC (SIBTCH), at 'AAA(nga)' and National Short-Term Ratings at 'F1+(nga)'. A full list of rating actions is at the end of...

Fitch Affirms Union Bank of Nigeria Plc at ‘B-‘; Outlook Stable

itch Ratings has affirmed Union Bank of Nigeria PLC's (Union) Long-Term Issuer Default Rating (IDR) at 'B-'. The Outlook is Stable. Key Rating Drivers IDRs, Viability Rating And National Ratings The IDRs of Union are driven by its standalone creditworthiness, as expressed by its Viability...
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