https://www.financialwatchngr.com/2018/04/30/cbn-threatens-bank-ceos-with-sack-over-delayed-accounts/
Are they reading our comments here. Someone here, guess, Wanajo advocated that bank md and chairman be sacked for delayed bank results.
Great step in nice direction by CBN.

onegentleguy:


Yes I must admit u were right about the talk on sustainability Sir.
...looking thru their YE 2017 result again, I now understand why.

However, I'll urge u to pls go thru the entirety of this Q1 2018 result, particularly the statement of Cash Flow and the Notes.
...on their CF, take a good look at the proceeds from investing & that from financing activities. ...as well as the cash position for the period under review.
On the Note to shareholders, refer to note 4 on cost of sales, note 6 distribution & admin expense, note 11 property and plant equipment, note 13 investment in subsidiaries. ...Infact everything in the NOTE.

This result is still all-touching and by far, an above average performance from DF.
...and quite frankly, even if I have to discount what I know, DF is still currently trading at a juicy discount from Fair Price.
My Verdict: based on this Q1 result, DF still screams a BUY from my end.

...and given the few privileged info we know (the REVELATION), I still maintain my initial stand that the future is here.
For with DF and DS, we are still very much with Mr TIME.

Disclosure: both DF and DS constitute a part of my investment portfolio.
Note however that this should not be seen as an investment advise. ...DD still advised as always pls.

Regards.

Thanks.

If you remember, the discussion was not about whether DF is a good investment BUT that whether 2017 performance in terms of profit and revenue growth can be sustained. And I explained that because of the competition in that sector it will be IMPOSSIBLE for DF to sustain that double digit growth year on year.

When analysing a stock, you need to also consider the sector in which it operates. The competition in that sector (including no name brands) is huge.

valacious:
https://www.financialwatchngr.com/2018/04/30/cbn-threatens-bank-ceos-with-sack-over-delayed-accounts/
Are they reading our comments here. Someone here, guess, Wanajo advocated that bank md and chairman be sacked for delayed bank results.
Great step in nice direction by CBN.

No be me ooo

By the way, which bank is this:

One Systematically Important Bank (SIB) with offshore subsidiaries in three countries has failed to publish its financial statement for the past three years. Its last published financial statement was for the third quarter ended September 30, 2015.

The shareholders better call for an EGM!

onegentleguy:


Gbam !!
...U my dear must be a very sharp fellow.
especially for noticing the parts in bold !!
That was why I asked Sir Wanajo to run thru the entirety of the Statement of Cash Flow and the NOTES to shareholders.
On 5 and 6, imagine after reducing facility borrowing by a whooping approx 18Billion and spending over 6Billion in investing activities, they still maintained a very healthy cash position and an above average increment in retained earnings.
...honestly, I do not know how else one can possibly describe a very competent management if not this way.

On the last part of ur statement in bold, u are also very correct. ...for the 'REVELATIONS' will all come to pass.
Soon, doubters will indeed be made to BELIEVE in the ability of Mr TIME.
...it's only a matter of time.
On DF and DS, we remain unshakable !!

Why do I need cashflow statement to determine whether there is increase in revenue and profit?

Again, the discussion was not about the competency of the management or otherwise. Discussion was about sustainability of the GROWTH in revenue and profit based on the FY2017 result.

valacious:
https://www.financialwatchngr.com/2018/04/30/cbn-threatens-bank-ceos-with-sack-over-delayed-accounts/
Are they reading our comments here. Someone here, guess, Wanajo advocated that bank md and chairman be sacked for delayed bank results.
Great step in nice direction by CBN.

The duration granted is even unreasonably too wide.
Six (6) months look more like it.
Can these same guys accept not to collect any of their entitlements for up to six months in a stretch?

Krisuba:


Bro wat happen in 2014? Good or bad?

Not so good IMO. Plenty small gains, nothing major after the beginning of the year. I already smell that happening.

wanaj0:


No be me ooo

By the way, which bank is this:



The shareholders better call for an EGM!

Skye Bank is the only SIB yet to release results.

RabbiDoracle:


Skye Bank is the only SIB yet to release results.

Since 2015 Na wa ooo

RabbiDoracle:


Skye Bank is the only SIB yet to release results.

It has 3 offshore subsidiaries

apiakason:
House does anyone know when lasaco registrar closes their books for the 0.4k dividend

LASACO looks like a 419 company to me. 2016 FYE dividend not yet paid. Even the so call N0.04 dividend declared for 2017 is not accounted in any corporate actions for 2017 I have seen so far. "Na only you waka come" company.

wanaj0:


Since 2015 Na wa ooo

It was around that time.

In 2016, CBN sacked the Skye Bank board.

See how time flies.

I vividly remembered "sai Baba" song. Now it is almost 4 years.

I think years pass so fast. Maybe Earth is rotating very fast.

onegentleguy:


Gbam !!
...U my dear must be a very sharp fellow.
especially for noticing the parts in bold !!
That was why I asked Sir Wanajo to run thru the entirety of the Statement of Cash Flow and the NOTES to shareholders.
On 5 and 6, imagine after reducing facility borrowing by a whooping approx 18Billion and spending over 6Billion in investing activities, they still maintained a very healthy cash position and an above average increment in retained earnings.
...honestly, I do not know how else one can possibly describe a very competent management if not this way.

On the last part of ur statement in bold, u are also very correct. ...for the 'REVELATIONS' will all come to pass.
Soon, doubters will indeed be made to BELIEVE in the ability of Mr TIME.
...it's only a matter of time.
On DF and DS, we remain unshakable !!

I actually do not like the slow down of DF quarter on quarter.
There was a slow down in Q4 2017, and yet another slow down Q1 2018.

Though Noodle division is no more and did not contribute to Revenue in Q1 2018, Flour division is slowing down.
Some metrics:
Net finance cost, Q1 2018 (N250m), Q1 2017 (N445m);
Gross Margin, Q1 2018 (17.5%), Q1 2017 (23.7%);
Dist. & Admin cost to Revenue, Q1 2018 (9.3%), Q1 2017 (9.6%);
Net Margin, Q1 2018 (6%), Q1 2017 (8.9%).

Going by this Q1 2018 performance, I am projecting a Full year EPS of N1.80 for DF.
Using a PE of 10, which is more like the average PE of the Consumer sector (Food product) of the NSE.
I am looking at a fair value for DF to be N18, an upside of 28%.
A BUY rating.

Please trade cautiously, Election is around the corner.

It has 3 offshore subsidiaries[/quote]

Good one Oga Rabbi, guessing which Bank it could be was a good one. Well done Sir.

CBN is the shareholder of this Bank

wanaj0:


No be me ooo

By the way, which bank is this:



The shareholders better call for an EGM!

[Thanks for the insight
quote author=jamace post=67148331] LASACO looks like a 419 company to me. 2016 FYE dividend not yet paid. Even the so call N0.04 dividend declared for 2017 is not accounted in any corporate actions for 2017 I have seen so far. "Na only you waka come" company. [/quote]

swilo:


You may make more money mastering ur dj skills than entering stock market.

With the dj thingy I dont think anyone will take u seriously.

Well, being a DJ doesn't stop you from engaging in business does it ?

let see where cileasing push price to this week

DF on early offer...

rationalmind:
DF on early offer...

yes, tritri in panic selling

currentprice:

yes, tritri in panic selling

Peter's KM7 loading

currentprice:
let see where cileasing push price to this week

Why are you pushing the price up this week?

currentprice:
let see where cileasing push price to this week

currentprice:


yes, tritri in panic selling

currentprice:
let see where cileasing push price to this week

Oga CP has succeeded in pushing the price to 1.52 and full bid.

Jejebaba:


Oga CP has succeeded in pushing the price to 1.52 and full bid.

That is to say that NSE obeys listens some voices in NSEMPA.

currentprice:
let see where cileasing push price to this week

onegentleguy:

...and CAVERTON shall follow.

FY 2017 and Q1 2018 Investors and Analysts Presentation


http://www.c-ileasing.com/wp-content/uploads/2016/10/CI-Leasing-Plc-FY-2017-and-Q1-2018-Investors-and-Analysts-Presentation.pdf

onegentleguy:



...and CAVERTON shall follow.

Sir, u mean we will soon Skye up the Caverton Airline ?