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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.
In: weekly report
30 Jun 2008A 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 [...]
In: company results
27 Jun 2008Results 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 FINAL DIVIDEND 6KOBO
CLOSURE DATE TO BE ADVISED LATER
PAYMENT DATE TO BE ADVISED LATER
NOTE: AGM THURSDAY, 28TH DAY OF AUGUST [...]
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 are also [...]
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 loan rates of [...]
In: News
26 Jun 2008Here is Express Discount’s stock market review for the week ended, June 20th.
In: News
26 Jun 2008Proshare 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 values. The [...]
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.
Lead Capital:
GlaxoSmithKline
Oceanic bank
UBA
Dangote [...]
In: company results
26 Jun 2008Here 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 increase in the Cost of [...]
In: company results
25 Jun 20081st 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%
In: Market Analysis
24 Jun 2008Here 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
N1.038bn
Zenith Bank
N972bn
First
[...]
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 falling market. [...]
This blog is dedicated to informing users on the latest business and economic news news from the CBN and Nigerian Stock Exchange. Happy reading!