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NGX Questions and Answers with Ambrose Omordion March 19, 2022

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Ambrose Omordion

Investdata Trading Academy Live with Ambrose 18/03/2022


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Ambrose Omordion

Breaking: Access Bank 2021 Full-Year Profit Up 51%, Offers N0.70 Final Dividend


The board of Access Bank Plc, on Thursday presented its much-awaited audited financials for the full-year ended December 31, 2021, highlights of which included the robust N153.14bn, or 20%, and N54.21bn or 51.13% growth in gross earnings and net profit respectively, following which the directors have recommended a dividend of 70 kobo per share, up from the previous 55 kobo each.

A breakdown of the earnings by operating segments showed that corporate & investment banking contributed the lion’s share of N384.323bn, up from N289.972bn in 2020; followed by commercial banking with N281.313bn, as against N224.367bn; while N250.142bn came from retail banking, up from N191.904bn; and business banking, N56.105bn, compared to N58.473bn.

Details of the result showed that interest income on using effective interest rate rose from N425.666bn to N519.466bn; while interest income on financial assets amounted to N82.234bn, compared to N63.55bn in the corresponding period of 2020. Interest expense jumped to N300.242bn from N226.266bn; leaving a net interest income of N301.458bn, up from N262.95bn; just as net impairment charge on financial assets amounted to N83.212bn from N62.893bn; driven by the N38.93bn from commercial banking, compared to N20.245bn; and N29.589bn from corporate and investment segment, from N15.608bn. This resulted in net interest income after impairment charge of N218.245bn for the period, up from N200.056bn in the prior full-year.

Fee and commission income increased from N116.7bn to N159.184bn, helped by the N66.28bn from channels and other e-business income, up from N56.092bn; and credit related fees and commissions of N43.318bn from N32.535bn; while expense rose to N 40.588bn, as against the previous N23.126bn; as net fee and commission income amounted to N118.596bn, up from N93.573bn.

A further review of the numbers showed that the results could have been far better, but for the significant drop in net gains on financial instruments at fair value from N122.689bn in the 2020 full-year, to N44.8bn; but the effect of the drop was ameliorated by the equally significant growth in net foreign exchange gain of N101.101bn, compared to prior year’s N7.568bn loss. Other operating income increased to N63.412bn from N44.474bn; bargain purchase from acquisition stood at N2.484bn from nil in 2020; personnel expenses stood at N96.707bn from N73.173bn; while depreciation increased to N29.171bn from N27.615bn. Armotisation and impairment rose from N9.913bn to N12.974bn; and other operating expenses from N215.806bn to N232.287bn; resulting in profit before tax of N176.7bn, compared to the previous N125.922bn. With income tax dropping from N19.912bn to N16.484bn, the profit after tax was lifted by corporate and investment banking, which contributed 64.133bn, up from N48.669bn; ahead of the N54.446bn from commercial banking, an increase from N32.865bn; and N31.085bn by retail banking, up from N19.516bn; translating to Earnings Per Share of N4.58, compared to N3.01 in the same period of 2020, out of which total dividend payout for the year amounts to N1.00 each. Recall that the bank paid an interim dividend of 30 kobo at half -year, compared to 80 kobo in the 2020 full-year (including the 25 kobo interim dividend paid).


Herbert Wigwe, GMD, Access Bank
A breakdown of the numbers by geographic regions revealed that Access Bank’s Nigerian operations contributed the bulk across the board, accounting for N714.282bn of total revenue, and N106.483bn of PBT, up from N635.659bn and N90.195bn; followed by the rest of Africa with N182.794bn and N47.591bn, compared to previous year’s N89.016bn; and Europe, N57.174bn and N22.625bn, as against N49.309bn and N7.269bn respectively

On the balance sheet, total assets rose to N11.689tr from N8.651tr, boosted by customer loans and advances of N5.161tr, up from N3.218tr; while total liabilities improved from N7.928tr to N10.681tr, lifted as usual by the N6.954tr in customer deposits, which rose from N6.587tr; resulting in a significant leap in shareholders’ funds from N751.041bn to N1.05tr.

https://investdata.com.ng/breaking-access-bank-2021-full-year-profit-up-51-offers-n0-70-final-dividend/

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NGX QA with Ambrose Omordion as at 12th March, 2022

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I just posted NGX Questions and Answers with Ambrose Omordion as of 12th March 2022


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Ambrose Omordion

Expect Mixed Sentiment On Panic Selling, 2021 Audited Earnings Expectations

Update for March 3

The panic trading pattern continued on the Nigerian Exchange Thursday, with the benchmark NGX All-Share Index slipping further on a low traded volume and negative market breadth, thereby extending the negative outing for two consecutive sessions in the midst of high payouts and expectation of more 2021 financials.

There is palpable fear over the implications of the continued conflict between Ukraine and Russia at a time the global economy is trying to recover from the Covid 19 pandemic, while many central banks across the world are facing challenges on the monetary policy front, particularly inflation and interest rates. One major impact is the rallying oil prices, as another inflationary pressure source, especially here in Nigeria, in addition to the insecurity challenges facing Nigeria that has kept many farmers at home, sending the prices of food northward, made worse by the rising cost of transportation, and fuel scarcity.

The market is looking reddish, not smiling at all, as profit-taking and selloffs persist across major sectors, especially blue-chip stocks, despite the impressive numbers emanating from quoted companies. The low traded volume in the midst of negative breadth and mixed sentiment shows that many investors are still waiting to see the earnings and corporate actions of companies that are yet to release their numbers.

Despite the recent impressive scorecards and payouts from Zenith Bank, Lafarge Africa, NGX Group, and others, the market reacted negatively amidst profit-taking, seemingly ignoring the numbers or payout as players run for safety due to the ongoing geopolitical tension. This triggered the rise in the commodity market with Brent crude trading above $116 per barrel in the international market, pushing oil and energy stocks higher. However, oil prices rally is expected to support economic and market fundamentals, as crude oil prices hit new highs.

The trading patterns in the midst of corporate actions and the better-than-expected numbers call for caution, as the NGX index action pulled back, touching 47,313.53 basis points on low volume to trade above the 47,000 mark, ahead of more 2021 full-year audited results.

As we expect market volatility to continue in the midst of an earnings reporting season, this would offer opportunities for the ‘buy’ and ‘sell’ sides of the market, but it is more important than ever to get good clear, and concise information to help firm up your trading and investing plans as the market awaits more big names to release their corporate earnings and actions as a push for positive reversal.

With all these in mind, I want to personally invite you to join me live today at Investdata Trading Academy with Ambrose every trading day at noon to get the real live position of the market and direction of individual stocks on exchange. This is necessary to help you make investment decisions at any point. Here, we advise you either as investors and traders to allow their stop-loss and profit targets guide you, while removing every atom of emotion.

Technically, the NGX’s index action remains bullish in the face of buying interests and profit-taking in low, medium, and high cap stocks to signal a change in momentum and trend as index and indicators are mixed, looking in the same direction on a light traded volume. Investors need to watch this, as funds are entering the market as expected, while traders should take advantage of any pullback at this point to a position.

Trade metrics for the session revealed profit-taking and positioning, as the NGX index trades on top of the shortest moving averages and above the 20, 50, and 200-Day Moving Average, while other indicators are mixed as ADX slowed down to 62.27. The RSI closed above 50 but declined to 67.10 from 69.48, and Money Flow Index inched up to 69.32 points on the daily time frame. The continuation of this trend depends largely on the interplay of market forces and flow of funds, as the direction of the fixed income market yields remains unclear with TB rates declining further.

Thursday’s trading started on the downside and it was sustained for the rest of the day despite oscillating on selloffs and buying interests, a situation that pushed the NGX index to an intraday low of 47,202.60 basis points, from its highs of 47,404.02bps, and thereafter closed below its opening point at 47,296.07bps.

Market technicals were negative and mixed, as volume traded was lower than in the previous day in the midst of negative breadth and mixed selling sentiments as revealed by Investdata’s Sentiment Report showing a 46% ‘buy’ volume and 54% ‘sell’ positions. The total transaction volume index stood at 0.79 points, just as the energy behind the day’s performance remained relatively strong. Money Flow Index was up at 69.32 points, from the previous day’s 68.28 points, indicating funds entered the market slightly despite the down market.

For you to successfully invest and trade in this volatile market, order for Investdata’s video on Buy & Sell Technical Analysis Toolbox to navigate the volatile market profitably, enhance trading decisions and boost your bottom line. Also, to up your game in stock trading and investing, understanding the key to trading price and index action will go a long way to make the difference in your trading results, check out the video materials below.

Index and Mkt Cap Movement

The key performance index NGXASI at the close of the day’s trading, lost 64.72 basis points at 47,202.60bps, after opening at 47,360.79bps, representing a 0.14% drop, just as market capitalization fell by N35bn, closing at N25.49tr, from the opening value of N25.53tr, also representing a 0.14% value loss.

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To become a member, send ‘YES’ or ‘STOCKS’ to the phone numbers below. Take advantage of this service to buy right and sell right at the current oscillating market in the midst of earnings season, portfolio reshuffling, and repositioning as we await an economic reform policy that can stimulate and re-track the economy to the path of growth and development.

Meanwhile, Thursday’s downturn was driven by selloffs in CAP. NASCON, Guinness, Lafarge Africa, NGX Group, GTCO, Access Bank, Zenith Bank, Ucap, Ardova, UACN, ETI, Dangote Sugar and Learn Africa, among others. This impacted mildly on Year-To-Date gain, as it reduced to 10.72%. Market capitalization growth stood at N2.79tr YTD, representing a 14.55% rise over the opening level for the year.

Bearish Sector Indices

All the sectorial performance indexes were down, led by the NGX Insurance after losing 1.42%, followed by Consumer Goods, Banking, Energy, and industrial goods with 0.69%, 0.56%, 0.14%, and 0.03% respectively.

Market breadth was negative as losers outnumbered gainers in the ratio of 34:12, while transactions in volume and value terms were mixed, after investors exchanged 243.42m shares worth N6.87bn, compared to the previous day’s 279.95m units valued at N4.16bn. Volume was boosted by trades in Transcorp, MTNN, NGXGROUP, FBNH and UPDC.

ABC Transport and LASACO were the best-performing stocks for the day, gaining 9.39% and 7.62% respectively, closing at N0.35 and N1.15 per share on market sentiment and forces. On the flip side, RT Briscoe and International CAP lost 10% each, closing at N0.63 and N17.55 per share, on profit taking and selloffs.

Market Outlook

We expect the mixed sentiment to continue on panic selling, investors’ reactions to corporate action and earnings in expectation of more release of 2021 audited financials with dividend announcement to boost positive vibes during this earnings season and rallying oil prices as it trades at $116. Also, the market continues to interpret the positive economic data in relationship with oil price and other factors, in the midst of profit-taking and portfolio rebalancing. This will result in market players targeting fundamentally sound and dividend-paying stocks in the hope of dividend announcements, as inflation rate moderates at 15.60% and Q4 GDP up at 3.98%, while the International Monetary Fund is calling for hike in interest rate and further devaluation of the Naira.

Q2 Master Class Theme

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Sub-Topics

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B. Great & Tested Strategies For Trading In Unstable Market
C. Technical Tools As Timing Edge To Manage Volatility Risk & Identify Buy Opportunities

Take way from this master class:

1. The volatile start to the year in financial markets is set to continue for this year and beyond 2023 election.
2. Economic recovery, high inflation, a post-pandemic repricing of equity, global trend and the Ukraine-Russia war have the potential to disrupt markets
3. How to navigate through this pre-election year environment and its challenges, as market volatility and sector rotation should present good opportunities for discerning traders and investors.
4. Simple valuation process for stock picking that combines fundamental and technical analyses for your watchlist and stock picks.
5, How to use stop loss and other technical tools for effective risk management and capital protection.
6, Fundamentals news and earnings powers that support strong group and sectors for defense in an uncertain environment.
7. Hot stocks to deliver 2-time inflation rate returns and gains in 91 days

Don’t miss this ultimate source of knowledge about the market, if you desire financial independence through profitable trading, investing and wealth building in this 2022 and beyond.

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Time: 9.am – 4pm

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Discerning investors and traders know that highly volatile markets create exceptional opportunities, while novice and amateur traders can often have a different response to volatility, which leads to FEAR.

Fear is the root cause of so many costly trading behaviors…hesitation to pull the trigger, incorrect position sizing, chasing trend and, market wave as a result of lack of trading plan and objective. If you want to be on the list of successful investors and traders in Q1 2022, send STOCK to 08028164085, 08179547605 now.

Meanwhile, the home study packs on Comprehensive Stock Market trading course video, Stock Market Analysis Beyond Fundamental & Technical Analysis, 2022 Actionable Trading Plan and Opportunities in Q1, INVEST 2022 Traders & Investors Summit materials and 10 Golden Stocks for 2022, Strategies and How to invest profitably in this Changing Market Dynamics/ Recession, Mastering Earnings Season For Profitable Investing and Trading in any market situation/ cycles, Life Beyond COVID 19 Investment Opportunities In The Stock Market are now available. To obtain your pack send ‘Yes’ or ‘Stock’ to 08028164085, 08179547605 now.

Ambrose Omordion

CRO|Investdata Consulting Ltd
info@investdata.com.ng
ambrose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08179547605
https://investdata.com.ng/expect-mixed-sentiment-on-panic-selling-2021-audited-earnings-expectations/

Investdata Trading Academy Live with Ambrose 28/02/2022

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I just posted INVESTDATA TRADING ACADEMY LIVE WITH AMBROSE AS AT 28/02/2022


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Ambrose Omordion

https://www.youtube.com/watch?v=izDb8O7q6Is

Hello Investors and Traders,

I just posted GLOBAL OIL MARKET SENSEX TUMBLES OVER 900 POINTS AS CRUDE OIL PRICES SURGE 5%

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Ambrose Omordion

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https://www.youtube.com/watch?v=yV9AH86nz1s

Expect Bullish Sentiment, On More Audited Reports, Dividend News, Positive Momentum


Market Update for the Week Ended Feb. 18 and Outlook for Feb. 21-25

Volatility continued on the nation’s equity market in the past week on corporate earnings and dividend announcement expectation resulting in a rollercoaster start with all this vacillation, offering opportunities for buyers and sellers. It is more important now than ever to understand the market dynamics and get good clear and concise information to help you firm up your trading and investing plans.

In this season of corporate actions or dividend declaration, below are investing tips to guide you as income investors and earnings traders. Dividend investing is one of the most powerful strategies for superior returns, depending on your objective or goals. This strategy is beyond looking at dividend yields, but focuses on earnings power, dividend growth, payout ratio, retained earnings and shares outstanding.

Company dividend is fundamental news that tells a story, and can at the same time influence share prices positively, or negatively. It tells a company that is generating more cash flow than it needs to retain for its operations, besides telling the healthy status of the company and the management’s capacity.

At the first Monetary Policy Committee (MPC) meeting of the year that ended on January 25, committee members expressed concerns over the impact of insecurity in farming communities, especially, in food basket states which has resulted in supply shortfalls. However, they were of the opinion that prices would trend downwards given the CBN’s ongoing interventions in the agriculture sector. On growth forecast, the CBN’s in-house estimate suggests a further rebound in economic growth, largely hinged on continued stability in oil price, progress in COVID-19 vaccinations, and support from both monetary and fiscal authorities.

With the gradual easing of base period effect on the inflation, there are the pass-through effects on hike in power costs and the current energy crisis that may likely exert upward pressure on headline inflation going forward. The only near-term curb to upward pressure, we believe, comes from the ongoing harvest season, but unfortunately, it has peaked and currently giving way for a new planting season. The government must double its efforts at necessarily curbing insecurity around the country, particularly, in the farming communities, thereby ensuring that farmers and their produce remain safe, and food supply is both boosted and uninterrupted. Putting the above factors together, we expect a higher headline inflation reading for February 2022.

As expected, the National Bureau of Statistics (NBS), during the week published Nigeria’s GDP report for the 2021Q4 at 3.98%, confirming the sustained growth tempo of the economy for the fifth consecutive quarter since the last recession. The growth was driven by the non-oil sector as earlier indicated by the better-than-expected corporate earnings released so far, in addition to the rising price of crude oil in the international market, and the prevailing but relatively low interest rate regime. A further GDP growth or expansion in 2022 would give the true state of the nation’s economy, if the effect of the negative base year or quarter is over.

During the week, the share prices of United Capital, Flour Mills, Academy Press, Fidelity Bank, RT Briscoe, and Learn Africa, among others hit new 52-week high.

To navigate the New Year profitably, order for Investdata’s video on Technical Toolbox for Buy & Sell Decision Home Study Pack to enhance trading results and boost your bottom line. Also, to up your game in equity trading and investing, understanding the key to trading price and index actions will go a long way to make the difference in your trading results. Checkout the video materials below.

Movement Of NGXASI

The NGX’s index action had a mixed performance, side-trending, while at the same time resisting further decline, after recording three sessions of down market and two days of up, thereby extending its negative outings for two successive weeks on profit taking by traders.

Trading opened the week on a negative note, losing 0.21%, an extension of the previous Friday’s selloffs which persisted until Tuesday when the index fell 0.09%. The trend was short-lived at the midweek when the market gained 0.12% on rekindled buying interests in medium cap and blue-chips stocks, which was halted, following the 0.01% slide on Thursday, due to selloffs in Seplat, MTNN, Zenith Bank and others, but rebounded on Friday with the index gaining 0.10%, which brought the week’s total loss to 0.13%, against the previous week’s negative position of 0.16%.

In all, the NGX All-Share index shed 61.82 basis points, closing the week at 47,140.48bps, after touching an intra-week low of 47,011.74 points, from its high of 47,232.47bps. Recall that the week started with the index at 47,202.30bps. During the week also, market capitalisation fell by N49.28bn, closing at N25.41tr, compared to the previous week’s N25.44tr, which also represented a 0.12% depreciation in value.

The week’s gainers’ chart as usual, was dominated by low and medium cap stocks, owing to the continued demand for dividend paying stocks, as players took advantage of the pullbacks in the better-than-expected numbers hitting the market. There were also the impacts of sectorial fundamental news and positive economic data, ahead of the January inflation data.

We note that the NGX Index and price actions reveal mixed sentiments, a situation that reflected in major sectoral indexes that closed mixed, despite the losses recorded by MTN Nigeria, Airtel Africa, Seplat, BUA Foods and other that pulled the index down.

Market breadth for the week remained positive on a high traded volume as a result of position and profit taking, with the onset of corporate actions, leaving investors pleasantly surprised, even as the released numbers have so far given insights into what is expected in terms of dividend. This is likely to support the recovery in the short to long-run, while investors increase their positions in the hope of higher dividend payouts and yields, as revealed by numbers and payout announced by directors of United Capital, just as fixed income market returns remain negative, despite the recently announced improvement in inflation rate.

During the week, advancers outnumbered decliners in the ratio of 43:38, on mixed sentiments, as revealed by the investor vibes report showing a 58% buy volume and 42% sell position. Money Flow Index inched up at 67.60bps from the previous week’s 75.30 points, an indication that funds left the market.

The NGX’s mixed sentiment persisted in the period under review, as index action on a weekly time frame remained strong and bullish, while momentum indicators were positive and mixed, irrespective of the improved traded volume, even as the NGXASI still trades above the 47,000 points. The candlestick formation, at the end of the week, revealed indecision as the market resists decline at a time the release of more 2021 audited financials continue to give direction. The candlestick pattern indicates a possible reversal or continuation of trend, depending on market forces in the new week. Meanwhile, market recovery is still strong. Also, all eyes are on fixed income market yields and oil prices to further support market fundamentals and attract liquidity to the equity space. The NGX at this point is creating new buying opportunities for dividend income investors.

Mixed Sectoral Indices

Sectorial performance index for the week were mixed, as the NGX Oil/Gas, Banking and Industrial goods closed 3.45%, 0.74% and 0.32% lower respectively, while the NGX Consumer Goods led the advancers after gaining 2.35%, followed by Insurance with 1.05%.

Transactions in volume and value terms were down as players traded 1.71bn shares worth N30.76bn, compared to previous week’s 1.33bn units valued at N22.70bn. This volume was driven by Financial Services, Consumer Goods and Conglomerates stocks, particularly Access Bank, GTCO, Fidelity Bank, Transcorp and Chams.

RT Briscoe and Learn Africa were the best performing stocks for the week, gaining 53.85% and 46.67% respectively, closing at N0.60 and N2.20 per share respectively on market sentiment and improving earnings. On the flip side, CWG and Berger Paints lost 9.76% and 9.58% respectively, at N1.11 and N7.55 per share, purely on selloffs and profit-taking.

Outlook for the week

We expect positive and bullish sentiment in the new week, as more dividend announcement and audited earnings reports hit the market, in the midst of the positive momentum and profit booking, as investors and traders react to numbers and expected dividend declaration. We note that income investors continue buying into dividend-paying stocks, ahead of February early filers like Zenith Bank, Africa Prudential, Nestle, Access Bank, Dangote Cement.

On the strength of the impressive numbers seen so far and the expected payout ratio, funds are likely to flow towards the better investment yields or returns. We note also that funds and portfolio managers continue to take position on the strength of the Q4 numbers released, ahead of the 2021 audited financials. For now, many stocks remain within their buy ranges to attract funds into the equity space.

Also, investors will continue tracking yields movement in the fixed income market. Last week’s high volume suggests that institutional investors are gradually returning to the market. It is important also that oil price continues to rally in the international market, trading above $91 per barrel; corporate actions, as well as the 2021 audited numbers that are around the corner.

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https://investdata.com.ng/expect-bullish-sentiment-on-more-audited-reports-dividend-news-positive-momentum/

One of Nigeria's biggest and oldest construction companies is diversifying into cashew processing; here's how that is going

What is driving Julius Berger's bid for cashew nuts?

The company disclosed in a regulatory filing with the Nigerian Exchange Group (where its shares are listed) that it had seen an opportunity in agro-processing and was determined to take advantage. Interestingly, this opportunity has always been there. And it is a huge one by the way.

Checks by Business Insider Africa show that cashew nuts have always been among Nigeria's topmost exported agric produces. Information made available by the National Bureau of Statistics (NBS) shows that in Q2 2021, Nigeria's agric exports surged to the highest level ever on record, even as the country generated N165.27 billion ($396.8 million). Out of this amount, cashew nuts contributed N42.94 billion ($101.2 million). It was the second most exported agro-food item, second only to cocoa beans.

Third Mainland Bridge, which is Nigeria's longest bridge and the second longest bridge in Africa, was constructed by Julius Berger
Third Mainland Bridge, which is Nigeria's longest bridge and the second longest bridge in Africa, was constructed by Julius Berger
Diversification is necessary for corporate growth


Indeed, the growth potentials inherent in cashew nuts are huge. Julius Berger knows this all-too-well, little wonder it decided to make cashew nut processing the cornerstone of its agro-processing venture. Armed with its technical expertise and innovation, the company is definitely poised for a windfall.

"Julius Berger is pleased with and indeed excited about its progress with this initiative. Julius Berger reiterates that our diversification direction would support the continued success of the Julius Berger Group in the future and align with the strategic objectives of the Government to stimulate value creation in Nigeria," the company said in a statement.

Do note that diversification is a viable corporate strategy. According to Management Study Guide, companies pursue diversification efforts when they are trying to expand and generate more revenue. And this can simply be achieved through the launch of new products in the markets where they already operate.

Besides Julius Berger, another Nigerian company that recently diversified [successfully] is 7Up Bottling Company which started manufacturing a hand sanitizer brand (2Sure) in the middle of the pandemic. The 2Sure brand has quickly grown to become a market mover.

https://africa.businessinsider.com/local/markets/julius-berger-has-diversified-into-cashew-processing/s7bvzn0