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Meristem’s Market Sentiments for the week ended May 30th: Market Declines by 2.71% Despite a 4 Day Trading Week The stock market continued in its bearish mood all through the 4-day trading week. On the aggregate, The NSE All Share Index (ASI) dipped by 2.71% to close the week at 58,929.02 points while the total [...]
Bearish trend depletes investor’s confidence. The looming market downturn couldn’t be reversed as the bears again held sway for the week under review. The NSE all share index slipped by 189 basis points while total market capitalization plunged by 182%. The disparity in the index and market capitalization was as a result of the listing [...]
Results for Nigerian Breweries, Tripple Gee, Intercontinental WAPIC, and JaPaul. TRIPPLE GEE & COMPANY PLC AUDITED RESULT FOR THE YEAR ENDED 31ST MARCH 2008 2008 2007 TURNOVER N775.414m N631.354m PBT N128.800m N65.765m TAX (N27.402m) (N13.684m) PAT N101.398m N52.081m PROPOSED DIVDEND 15KOBO PROPOSED DIVIDEND 1 FOR 2 CLOSURE DATE 3RD TO 7TH JULY 2008 PAYMENT DATE [...]
Find attached a report analyzing UAC Properties Q1 results. Here are some highlights: Turnover grew 52% to N1.64b. 33% improvement in PBT margin as PBT grew 81% to N545.7m. PAT grew 81% to 371m. Reduction in the Total Cost as a percentage of turnover. FSDH predicts that the company should surpass last year’s bottomline by [...]
The Nigerian Stock Exchange (NSE) recently issued directives stating that "any company seeking to be listed by introduction on the NSE shall make 10% of its outstanding shares available on the day of listing for market making". This was to prevent the undue price appreciation and manipulation. They also directed that "the quantum of shares [...]
Results for Ikeja Hotel, Nigerian Ropes, Mutual Benefits Assurance, Vitafoam, Total and Staco Insurance: IKEJA HOTEL PLC UNAUDITED 1ST QUARTER RESULT FOR THE PERIOD ENDED 31-03-2008 2007 2008 TURNOVER N1.558b N1.320b PBT N380.0m N272.146m TAX (N121.611m) (N87.087m) PAT N258.424m N185.059m NIGERIAN ROPES PLC YEAR ENDED DECEMBER 31, 2006 2006 2005 TURNOVER N450.707m N417.564m PBT N37.074m [...]
Lead Capital just prepared a wonderful report on the Cement Industry in Nigeria. They provide an analysis of the industry explaining the challenges and opportunities within the industry. They author also provides recommendation on some of the stocks. Here are some highlights: There is the problem of demand vs supply inequality. Supply has not been [...]
Financial Nigeria is reporting that the CBN may adopt a new supervision model for banks in Nigeria. Here is the report: The Central Bank of Nigeria (CBN) may have begun moves to develop a home grown supervisory model that takes into account international requirements and standards in banking supervision. Indications to this effect emerged from [...]
Tribune newspapers is reporting that Oando has concluded plans to raise N30billion for expansion. Here is an excerpt of the report: IN pursuit of its expansion and growth drive, Oando Plc said it had concluded plans to raise $250 million (about N30 billion) from both local and international markets. Mr. Adewale Tinubu, Group Chief Executive [...]
Ecobank released its results for the first quarter. The company declared a profit after tax of N7.5 billion for the year ended December 31st, 2007 representing 109% growth over 2006. The highlights are: Gross earnings grew by 90 per cent to N33 billion from N17 billion recorded in the preceding year. The bank’s profit before [...]
Find attached the weekly stock market reports prepared by NSE Pro, Lead Capital, and Zenith Securities.
Find below FSDH’s analysis of the Q1 results for Mobil PLC.
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