-11% reduction to our 2019-21E EPS estimates Total Nigeria’s (Total) Q4 2018 earnings of N295m were disappointing. Although sales were up 21% y/y, significantly higher cogs and operating expenses weighed on profitability. The operating environment was tough in 2018 as the landing cost of gasoline was higher than the pump price for most of the […]
Corporate Actions Corporate actions are decisions taken by companies’ boards of directors or management teams, that could have impacts on the firms themselves or shareholders. Examples of corporate actions include the release of quarterly and full year results, payment of dividends, closing of shareholders’ registers, announcing qualification dates and Annual General Meeting (AGM) dates. Corporate […]
11 Plc (Mobil Oil Nigeria Plc) 11 Plc (formerly known as Mobil Oil Nigeria) recently released its full year results for 2018. Revenue increased from N125 billion in 2017 to N164 billion in 2018, up 31%. While profit before tax was flat, profit after tax rose by 24% to N9.3 billion in 2018, up from […]
The Nigerian equities market closed marginally in negative territory amid sustained profit taking activity as investors continued to patronise fixed income assets. The decline in overall market performance was partly subdued by partial recovery in the share prices of Dangote Cement and Zenith Bank, amid technical marked down for dividend. The benchmark index posted losses […]
Lagos – The local bourse regained losses from earlier trading sessions to close slightly bearish, as sell-offs in market bellwethers outpaced last-minute bargain hunting activities. A total turnover of 1.198 billion shares worth N12.273 billion in 18,293 deals were traded last week by investors on the floor of the Exchange in contrast to a total […]
Corporate Actions Corporate actions are decisions taken by companies’ boards of directors or management teams, that could have impact on the firms themselves or shareholders. Examples of corporate actions include the payment of dividends, closing of shareholders’ registers, announcing qualification dates and Annual General Meeting (AGM) dates. Corporate Actions that took place last week CRe […]
Oil pumps are seen after sunset outside Vaudoy-en-Brie, near Paris, France. Picture: REUTERS/CHRISTIAN HARTMANN Lagos — Nigerian oil company Oando aims to raise fresh capital over the next two years and repay debt used to acquire Conoco Phillips’ Nigerian assets, its CEO Adewale Tinubu said . Oando has transformed itself in the past few years […]
The bears sustained hold on the equities sector of the Nigerian Stock Exchange (NSE) yesterday, as more blue-chip stocks depreciated in price, especially Wema Bank and Presco, causing the All-Share Index to decline further by 0.01 per cent. Specifically, the All-Share Index shed 3.46 absolute points, representing a dip of 0.01 per cent to close […]
nigeria stock exchange Forte Oil Thursday led gainers during the day, appreciating by N2.45 kobo to close at N27.40 kobo, Vitafoam Nigeria Plc followed with a gain of N0.28 kobo to close at N3.85 kobo, Oando Plc appreciated by N0.15 kobo to close at N4.95 kobo, Zenith Bank Plc increased by N0.10 kobo to close […]
Eighteen stocks, including six financial institutions-Unity Bank Plc, Fidelity Bank, First City Monument Bank Plc, United Bank for Africa Plc, Guaranty Trust Bank Plc and Wema Bank Plc dominated losers’ chart at yesterday’s trading on the Nigerian Stock Exchange (NSE). Other equities on the losers’ chart were Transcorp Plc, Cadbury Plc, May and Baker Plc, […]
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