manie:
When did they get the first tranche, the 2nd tranche ought to be paid on or before March 2016.

First tranche was paid in the final quarter of 2014 final result. The second tranche was paid in 2nd quarter of 2015

angrybull:


First tranche was paid in the final quarter of 2014 final result. The second tranche was paid in 2nd quarter of 2015

I still prefer my afriprud to fmn.
Proceed from sale of asset cannot be sustained.

SMC:


Great analysis Emmanuel. Fabulous job. Might I add that when we add the dividends received of N1,418,430.00 (from 2000 till date) to the current value of the shareholding which would now stand at 214,500 shares (due to the 1 for 10 bonus announced for the 2014 financial year), the value for the shareholder becomes N2,512,380.00 (214,500 shares at today's price of N5.10 per share equals N1,093,950.00) which is over 25 times the initial sum of N100,000.00 invested in year 2000.

If the shareholder had ploughed back all the dividends received into buying more FBNH shares over the years, the value gained and wealth accumulated by the shareholder would be significantly more/higher. So though the price of the FBNH stock has yoyo-ed over the years, the shareholder has really lost nothing of his investment put in originally.

CAVEAT: This relates to investments made over the years and should not be deemed as a recommendation (or otherwise) by anyone.

i did not include the 1 for 10 bonus declared in 2014, because it is yet to be credited into our accounts. There nothing as good as dividend re-investment, that is how average people build multi million or billion naira portfolio.

angrybull:


First tranche was paid in the final quarter of 2014 final result. The second tranche was paid in 2nd quarter of 2015

Thanks.

http://www.nse.com.ng/Financial_NewsDocs/11318_FLOUR_MILLS_OF_NIG_Q2_SEPT_2015_FINANCIAL_STATEMENTS_OCTOBER_2015.pdf

Nice result but the company was supposed to report a huge loss if not for the N23.73 billion gain on sale of investment. If discounted, the supposed profit for the year will be N286.87 million (N0.286 billion) which, when compared to N4.37 billion reported in the previous year, is actually a huge drop in PAT. However, the introduction of N23.73 billion gain on disposal of investment in associate raised the PAT to N24 billion. This company has been reporting several losses and negative cash flow over the years which explains why it has been on steady decline since 2013.

In their year end 31 March 2015 result, they were supposed to report a loss of N5.82 billion as against N5.37 billion profit reported for the previous year but there was a recorded N14.29 billion gain on disposal of investment in associate (which I think was the first tranche of the payment as stated by @Angrybull). This was also an offset against a supposed loss which brought the profit of the company to N8.46 billion compared to N5.37 billion the previous year.

Will the company be able to sustain this PAT in the near future? Most unlikely. For those of us who have long term positions in FMN, let's not be frightened if there is a sharp decline in PAT in the near future. I know the money realised from the sale will be put back into the business and increase shareholders value but I don't expect a significant increase in bottom line for subsequent year end.


CAVEAT: I have a long term position in Flourmills

mercylicious:


I still prefer my afriprud to fmn.
Proceed from sale of asset cannot be sustained.

I agree with you, afripud is very nice. Fmn is undergoing massive restructuring. Funds from unicem divestment I think should be used to reduce some portion of their debt and also help to finance some of their expansion businesses which will definitely going to impact positively on both topline and bottom line in subsequent years. I have afripud but my investment in fmn is for long term.

http://nigeriaretailinvestors.com/index.php/forum/the-trading-room-home-of-technical-analysis/265-new-sell-alert. Just login and see our technical analyst release some new sell alert for the NSE. If you do not understand anything or want clarity , please post and ask your questions

Your Amuly

Ukwuamu

Yours ..


Linda ikeji leading opening new avenues and making oldies become serious.
Anyway, personally, I feel the money isnt from her blogging.

mercylicious:
Yours ..


Linda ikeji leading opening new avenues and making oldies become serious.
Anyway, personally, I feel the money isnt from her blogging.

https://www.nairaland.com/2532647/how-advertise-linda-ikejis-blog

Check out her supposed ad rates and check out her blog. A rough mental calculation will show that her blog can generate even far more that it currently does.

Greetings to all BNSITL.

As we enter into the New Month of November, the God of all righteousness shall enlarge our coast, give ear to our supplications, and answer all our prayer. He shall continue to watch our us and family, grant us every good desires of our heart, and lead us in his righteousness and paths. Mercy, grace, favor, and blessings shall see us through in this month. The enemy of our soul shall not have power over our existence and the good Lord shall arise in his power and destroy every tabernacle of stagnancy in our life, family, and country. We shall have every cause to be joyful in this Month of November. And the peace of the Lord shall abide with us forever. God bless you all. One Love!

The Pharmaceutical Manufacturers Group of the Manufacturers Association of Nigeria (PMGMAN) on Monday said four Nigerian drug manufacturers had met the World Health Organisation (WHO)’s requirements for good manufacturing practice.
Mr. Okey Akpa, the Chairman of the association, disclosed this at the opening ceremony of a three-day Nigeria Pharma Manufacturers Expo 2015 in Lagos.
Theme of the exhibition is: ‘The Nigerian Pharmaceutical Manufacturing Industry and International Competitiveness.’
Akpa listed the manufacturers as Swiss Pharma Nigeria Limited, CHI Pharmaceutical Limited, Evans Medical Plc and May & Baker Nigeria Limited.
According to him, many pharmaceutical manufacturers have also complied with the requirements of International Standards Organisation.
“Nigerian pharmaceutical manufacturers have also developed manufactured and registered products for the UN Commission and life-Saving Commodities for Women’s and children’s Health,” Akpa said
He said that many international pharmaceutical companies were not interested in research and development investments for conditions such as sickle cell anaemia and malaria which were peculiar to African continent. “Nigeria is currently the biggest pharmaceutical manufacturing country in West Africa. It accounts for more than 65 per cent of the local manufacture of medicines relevant to the people and diseases of our nation and region. They are anti-malaria medicines, anti-retroviral medicines for HIV/AIDS, herbal medicines and medicines for sickle cell diseases and many others,” he stated.
Akpa said that many manufacturers in the country had also processed the Expression of Interest (EOI) with the WHO for pre-qualification of products.
“Manufacturers processing WHO prequalification have invested over 50 million dollars in the last five years,” he said.
Akpa urged the Federal Government to give the drug manufacturers some incentives such as tax holidays to support the extra investment for quality upgrades and new factories.
He also appealed to the government, pharmaceutical innovators, international suppliers and partners to sustain the gains made so far by the pharmaceutical industry.
The News Agency of Nigeria (NAN) reports that over 130 exhibitors and about 2,500 participants are featuring in the exhibition. (NAN)
SourceNews Express
Posted 08/09/2015 09:05:26 AM

AkinadeDare:
The Pharmaceutical Manufacturers Group of the Manufacturers Association of Nigeria (PMGMAN) on Monday said four Nigerian drug manufacturers had met the World Health Organisation (WHO)’s requirements for good manufacturing practice.
Mr. Okey Akpa, the Chairman of the association, disclosed this at the opening ceremony of a three-day Nigeria Pharma Manufacturers Expo 2015 in Lagos.
Theme of the exhibition is: ‘The Nigerian Pharmaceutical Manufacturing Industry and International Competitiveness.’
Akpa listed the manufacturers as Swiss Pharma Nigeria Limited, CHI Pharmaceutical Limited, Evans Medical Plc and May & Baker Nigeria Limited.
According to him, many pharmaceutical manufacturers have also complied with the requirements of International Standards Organisation.
“Nigerian pharmaceutical manufacturers have also developed manufactured and registered products for the UN Commission and life-Saving Commodities for Women’s and children’s Health,” Akpa said
He said that many international pharmaceutical companies were not interested in research and development investments for conditions such as sickle cell anaemia and malaria which were peculiar to African continent. “Nigeria is currently the biggest pharmaceutical manufacturing country in West Africa. It accounts for more than 65 per cent of the local manufacture of medicines relevant to the people and diseases of our nation and region. They are anti-malaria medicines, anti-retroviral medicines for HIV/AIDS, herbal medicines and medicines for sickle cell diseases and many others,” he stated.
Akpa said that many manufacturers in the country had also processed the Expression of Interest (EOI) with the WHO for pre-qualification of products.
“Manufacturers processing WHO prequalification have invested over 50 million dollars in the last five years,” he said.
Akpa urged the Federal Government to give the drug manufacturers some incentives such as tax holidays to support the extra investment for quality upgrades and new factories.
He also appealed to the government, pharmaceutical innovators, international suppliers and partners to sustain the gains made so far by the pharmaceutical industry.
The News Agency of Nigeria (NAN) reports that over 130 exhibitors and about 2,500 participants are featuring in the exhibition. (NAN)
SourceNews Express
Posted 08/09/2015 09:05:26 AM

. Does this mean Evansmed will stand the test of time? when it still meets WHO's requirements recently, and having known its dominance before in the industry. Your opinion on this, since 2014 result has nt been released................

mercylicious:


I still prefer my afriprud to fmn.
Proceed from sale of asset cannot be sustained.

Personally, I'll rather be in United Capital now than APR... There's more price movement potential in it than APR (at year end) considering the fact that they have given an interim already... Except if they give a bonus issue, which they comfortably can do considering the low outstanding share number...

Anyway, both are great buys at present prices...

NB: This is not a buy or sell recommendation...

This might be a rumor...dont quote me!

Know Your Ministers & Their Portfolios........

Agric and Natural Resources Audu Ogbeh (Benue)

Agric and Natural Resources (State): Geoffrey Onyema (Enugu)

Attorney General, James Ocholi (Kogi)

Aviation Sen Hadi Sirika (Katsina)*

Defence Abdulrahman Dambazau(Kano)

Defence (State) Dan Ali (Zamfara)

Education . Isaac Adewole (Osun)*

FCT (State) Solomon Dalong (Plateau)

Federal Capital Territory Abubakar Bawa Bwari (Niger)

Finance Okechukwu Enelamah (Abia)*

Finance (State) Kemi Adeosun (Ogun)*

Foreign Affairs . Kayode Fayemi- (Ekiti)

Foreign Affairs (State) Adamu Adamu (Bauchi)*

Health Osagie Ehanire (Edo)*

Information, Communication Technology: Lai Mohammed (Kwara)*

Interior : Cladius Omoleye Daramola (Ondo)*

Labour & Productivity:Prof Anthony Onwuka (Imo)

Mines and Steel Development Abubakar Malami (Kebbi)*

National Planning Amina Mohammed (Gombe)*

Niger Delta Affairs Rotimi Amaechi*

Niger Delta Affairs (State) Pastor Usani Uguru (Cross River)*

Petroleum Ibe Kachikwu (Delta)

Police Affairs : Dr. Chris Ngige (Anambra)

Power : Babatunde Fashola (Lagos)*

Sports & Youth Development Heineken Lokpobiri (Bayelsa)

Trade and Investment Udo Udo Udoma (Akwa Ibom)

Trade and Investment (State) Zainab Ahmed (Kaduna)

Women Affairs Hajia Khadija Bukar Ibrahim (Yobe)

Works & Transport: Ogbonaya Onu- (Ebonyi)

Works (State) Barr. Adebayo Shittu (Oyo)?

Stakeholders and experts in Nigeria’s petroleum industry has called on Mr. Wale Tinubu, Oando Plc boss, to throw in the towel instead of boring his publics with tales of how the giant oil company posted a staggering loss of N189 billion right under his watch. The loss which was announced last week has raised speculations about Tinubu’s capacity to steer the ship of the oil corporation to prosperous heights especially in this period that oil prices are having a free fall. Since the disclosure of the monumental loss, rather than do the needful, Tinubu is said to have appeared on national television trying to explain the reasons for the loss. But the subtle image laundering aimed at currying the favour of his company’s shareholders and other stakeholders has however, generated virulent criticisms across the nation’s oil and financial sectors. Pundits are of the opinion that the Oando boss should have simply towed the honourable path by tendering his resignation letter instead of coming on TV to offer frantic explanation of the company’s loss while seeking the public’s indulgence for his apparent incompetence at his job. “The fact that the bulk of the lost money was attributed to administrative expenses is a enough reason for him to go. It’s shameful and insensitive of the Oando boss to hold tenaciously to his position while junketing across the globe on private jet and as a member of President Muhammadu Buhari’s entourage while he bungles his brief as Oando boss,” one of the company’s shareholder who refused his name in print told Daily Independent. “Tinubu should just go in the spirit of change; he has ran the company aground.”

Oil failed to sustain a rally above $50 a barrel in October amid signs a global glut will be prolonged as rising U.S. stockpiles keep supplies more than 100 million barrels above the five-year seasonal average.

The Organization of Petroleum Exporting Countries continues to pump crude at a faster pace than the limit the group has set for itself, with production near the highest level since 2008.

http://www.bloomberg.com/news/articles/2015-11-02/oil-slides-as-china-factory-gauge-signals-continued-contraction

If you bought gsk share you should have your snail mail in your box by now. Some of us prefer to receive our div in cheque

Chibuking81:
Stakeholders and experts in Nigeria’s petroleum
industry has called on Mr. Wale Tinubu, Oando
Plc boss, to throw in the towel instead of boring
his publics with tales of how the giant oil
company posted a staggering loss of N189
billion right under his watch.
The loss which was announced last week has
raised speculations about Tinubu’s capacity to
steer the ship of the oil corporation to
prosperous heights especially in this period that
oil prices are having a free fall.
Since the disclosure of the monumental loss,
rather than do the needful, Tinubu is said to
have appeared on national television trying to
explain the reasons for the loss. But the subtle
image laundering aimed at currying the favour
of his company’s shareholders and other
stakeholders has however, generated virulent
criticisms across the nation’s oil and financial
sectors.
Pundits are of the opinion that the Oando boss
should have simply towed the honourable path
by tendering his resignation letter instead of
coming on TV to offer frantic explanation of the
company’s loss while seeking the public’s
indulgence for his apparent incompetence at his
job.
“The fact that the bulk of the lost money was
attributed to administrative expenses is a
enough reason for him to go. It’s shameful and
insensitive of the Oando boss to hold
tenaciously to his position while junketing
across the globe on private jet and as a
member of President Muhammadu Buhari’s
entourage while he bungles his brief as Oando
boss,” one of the company’s shareholder who
refused his name in print told Daily Independent.
“Tinubu should just go in the spirit of change;
he has ran the company aground.”

I will not be surprise to hear that Ucheson is the new CEO of Oando company, because by now his company suppose own 80% share in Oando. ucheson congratulation.

PETERiCHY:
Oil failed to sustain a rally above $50 a barrel in October amid signs a global glut will be prolonged as rising U.S. stockpiles keep supplies more than 100 million barrels above the five-year seasonal average.

The Organization of Petroleum Exporting Countries continues to pump crude at a faster pace than the limit the group has set for itself, with production near the highest level since 2008.r
http://www.bloomberg.com/news/articles/2015-11-02/oil-slides-as-china-factory-gauge-signals-continued-contraction

@ Peterpoor, you seem to forget that some countries do not have oil and yet have done very well for their economy. Even Nigeria was once an example.Just as I believe our leaders got it wrong the moment they abandoned all other avenues. Let oil sell as low as 1 dollar per barrel, Nigeria can be great if we have committed leaders and followers. Of course not someone like you, either as a leader or a follower. No wonder you have thrown all hope for your motherland into the dustbin as evident in your persistent call for naira devaluation. I don't think and I have never heard or seen an American, Briton or someone from a developed country regardless of his status, rich or poor, young or old, illiterate or educated, think, imagine in his mind or canvass and clamour for devaluation of his countries currency. The reverse is the case here and that's what is worrisome to me. Ask yourself how many times we have been told to devalue as a way out and yet they still come back and sell the same story.

I hope some people got into Oando on Friday as called

Agbalowomeri:
I hope some people got into Oando on Friday as called

Oando opening on bid at 5.99. Monkey hunting season.

Raider76:


Oando opening on bid at 5.99. Monkey hunting season.

Fact is not many bought below 9; less than 10 million units

Chibuking81:
I will not be surprise to hear that Ucheson is the new CEO of Oando company, because by now his company suppose own 80% share in Oando. ucheson congratulation.

Who is Ucheson

OBAGADAFFI:


Who is Ucheson

One cl....n on this thread

See bids na! We humans funny sha

see as people bidding OandO they rejected last week with over 50 million offer

human really funny

currentprice:
see as people bidding OandO they rejected last week with over 50 million offer

human really funny

its the currentprice that is attractive

AkinadeDare:
. Does this mean Evansmed will stand the test of time? when it still meets WHO's requirements recently, and having known its dominance before in the industry. Your opinion on this, since 2014 result has nt been released................

It remains to be seen how these companies will exploit the opportunity presented to them on account of the WHO certification. All I know is that they need fresh capital to maximize gains from the WHO certification. Most of them are in dire need of fresh capital due to their heavy debt profile.

Watching M&B and Evans, the listed ones that are readily available. The news is actually stale and the market didn't respond when it broke.

currentprice:
see as people bidding OandO they rejected last week with over 50 million offer

human really funny

hehe...make i quickly throw in my bid too..

we are still making more money this year..

sophy17:


@ Peterpoor, you seem to forget that some countries do not have oil and yet have done very well for their economy. Even Nigeria was once an example.Just as I believe our leaders got it wrong the moment they abandoned all other avenues. Let oil sell as low as 1 dollar per barrel, Nigeria can be great if we have committed leaders and followers. Of course not someone like you, either as a leader or a follower. No wonder you have thrown all hope for your motherland into the dustbin as evident in your persistent call for naira devaluation. I don't think and I have never heard or seen an American, Briton or someone from a developed country regardless of his status, rich or poor, young or old, illiterate or educated, think, imagine in his mind or canvass and clamour for devaluation of his countries currency. The reverse is the case here and that's what is worrisome to me. Ask yourself how many times we have been told to devalue as a way out and yet they still come back and sell the same story.

Countries actually devalue their currency if it confers some advantages over currencies of competing economies. For example, by devaluing your currency, it spurs investment and can be used to jump-start a hailing economy. The Chinese government devalued the Yen some months back making it much cheaper that the Dollar. There were fears that a currency war might ensue but thankfully, it was not to be.

Bear in mind, that I do not think devaluation in itself is the solution in Nigeria case. Hence my support for the stance of the FG. It would be the last thing we do after plugging loopholes and drainages in our economy rather than allow currency speculators like Peterichy exploit the situation for their selfish gains.

At Peterichy; I know say, you no dey quick vex. So make you no vex o. I dobale.

passwelle:

its the currentprice that is attractive

But Oando closed at N6.01 last week Friday (with how many units on offer sef?) . Now it's on bid at N5.99?