Archive for June, 2008

Below are the weekly reports for the week ended Friday, June 27th prepared by Zenith Securities, FSDH, and Lead Capital.

Lead Capital and Zenith Securities also prepared stock recommendations for the current week.

A turnover of 5.21 billion shares worth N68.75 billion in 78,306 deals was recorded this week, in contrast to a total of 5.24 billion shares valued at N42.52 billion exchanged last week in 82,798 deals. Transactions during the week included a total of 133,500 units of Access Bank Plc N13.5 billion Redeemable Bond 2010 valued […]

Results for C&I Leasing, Royal Exchange Assurance, Tantalizers, Sovereign Trust Insurance, and Universal Insurance C&I LEASING PLC AUDITED ACCOUNTS FOR THE YEAR ENDED 31-01-2008 Results for 2008 are for the group while those of 2007 are for the company. 2008 2007 GROSS INCOME N2.658b N1.613b PBT N437.645m N164.737m TAX (N58.351m) (N47.256m) PAT N375.363m N341.887m PROPOSED […]

Attached is FSDH’s analysis of the Q1 results of Lafarge Cement WAPCO Nigeria and ZSL’s analysis of the Q1 results of Presco PLC. FSDH rates the company’s shares as a buy based on the fact that they expect a growth rate of 24%,a turnover of N47.82bn, EBITDA of N16.71bn, and a PAT of N11.95bn. They […]

Meristem Securities prepared a research report on the middle-tiered banks in Nigeria. Click here to read. Here is the summary/my take-away from the report: – AfriBank and IBTC have the highest proportion of non-performing loans (17.6% and 14%) repectively as against the perr average of 8.9%. – Skye Bank and FCMB have the best performing […]

Here is Express Discount’s stock market review for the week ended, June 20th.

Proshare prepared a table comparing the stock prices of the companies on the Nigerian Stock Exchange as of June 18th to their year high. It seems almost all the companies have seen a drop from their year highs to their current prices. About 30% of the companies have lost at least a third of their […]

Below is the of stocks recommended by Lead Capital and Zenith Securities. The interesting thing is the convergence of their picks. Both pick Oceanic and Skye Banks. In my own opinion, the best in the list are the insurance stocks. You can read their full recommendation and reasons for their picks in the attached documents. […]

Here is a quick summary of the review of the Q3 Results for Guiness Nigeria as prepared by FSDH . Turnover increased 11.5% to N49.5billion PBT increased 11% to N11.1b PAT increased 10.38% to N7.55b Dividend of N4.50 vs N6.80 last year. Marginal declines in the PBT and PAT margins as a result of the […]

1st Qtr Results for GT Bank: 2008 2007 change Turnover (m) 27,961 14,882 88% PBT (m) 12,298 5,094 141% Taxation (m) 3,935 1,630 141% PAT (m) 8,363 3,464 141%

Here is the result of the latest ranking of banks based on a report compiled by ELI Business Services Support Limited and reported by the Punch Newspapers. The banks were ranked on their asset base, shareholder funds and deposits. UBA and Oceanic Bank were the 2 top performing banks. Asset Base UBA N1,191bn Oceanic Bank […]

Meristem Securites prepared a good analysis on the current state of the NSE where the stock prices have been sliding continuously. Read below: State of the Nigerian Stock Market & Options for Investors The state of the Nigerian stock market brings to fore the strong reign of bearish mood and the general perception of a […]


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