Browsing: NSE

FCMB Reaffirms Plans to Grow Retail Business, Reduce Concentration

ARDOVA: Analysts Recommend Buy on Expectation of Sales Recovery. In the first half of 2020, Ardova Plc revenue rose 5% year on year to ₦87.3 billion, which was 2% below Vetiva analysts estimate. Thus, analysts forecasted ₦29.26 price target, though net profit for financial year 2020 is projected to

SUNU Assurances Plc Profit Spikes 30% to ₦1.2 billion. SUNU Assurances Nigeria Plc. has announced a 30% increase in profit to N1.2 billion for the financial year 2019. The audited result shows that the company recorded N914 million profit in the 2018 financial year.

Wema Bank: Weak Earnings, Bleak Outlook Validate Concerns on Vulnerability – Meristem
Lender’s Suffered Regulatory-Induced Risk Straining Earnings
₦89.14 billion CRR Debit Against Lender, Earned Zero Interest
Equity Analysts Downgrade Stock to SELL
Topline Outlook Revised from Modest to Bearish Due

Analysts Maintain Buy Rating on Sterling Bank, Set Price Target to ₦1.43

Nestlé Nigeria Earnings Deflates as Cost Pressure Mount

Custodian Investment to Acquire Controlling Interest in UPDC. The Custodian Investment Plc has signed a binding agreement with UAC of Nigeria Plc to purchase 51% equity interest in UACN Property Development Company (UPDC) Plc.

Sterling Bank: Impressive Result Belied Rough Seas Ahead – CEO. Sterling Bank Chief Executive Abubakar Sulaiman has said lender’s first half 2020 performance has bellied rough seas ahead.

Total Nigeria Suffered 29% Revenues Drop Due to Lockdown. In the first half of 2020, Total Nigeria Plc earnings dropped off significantly due to outbreak of coronavirus which necessitated economic lockdown.

Analysts Maintain Positive Outlook as Dangote Sugar Boosts Profit. Analysts have maintained a a positive outlook for Dangote Sugar Refinery (DSR) Plc as company leverage on advantages from border closure.