₦airaland Forum

austinkenneth:
This AIICO is on steroids. I wish I had bought more at sub 70 kobo. N1.2 seems like a reality afterall

But their quarter 1 result is not good, so what is driving it?

RabbiDoracle:
USD index is breaking down very fast. Dollar will weaken globally. People will not want to hold USD as a store of value for the time being.

Let's see if it can get to 74.

Baba, will this affect the Naira positively? I have some Dollar payments I need to make. Trying to see if I should wait a bit before making the payment.

Biafran4life:
How funny could this sound.You are quick to crucify a pastor and don't want religious linnks because he said something wrong about Catholics.I came from a strong Catholic home but presently I don't worship at Catholic for personal reason.The same goes for members of my family..I am a winners member aka LFC, sisters chosen, brothers redeem.
On the other hand you looked the other way when someone else was making a joke of Christianity and christ.Let me remind you it was agreed on this thread he could share his links instead of posting in full

We are now asking for re-negotiation of that agreement. We are here for investment purpose and nothing else. All religious discussions should be directed to the appropriate section abeg.

seyisanya:
Shoo, haba. Shey nah u go tell person wetin hin go do wiv hin portfolio?

She has done it already na, so I didn't tell her what to do. It's just an advice so she wouldn't go through what I went through

Justcul:
In February, some people bought GTB at 28.0 and were celebrating, and someone bought at 20+ you are asking why.. GTB is in a class of its own. At the present price, its a bargain

In few months from now you probably will be bidding for GTB at 29+ and no offers.. life.... life...

I am in GTB bro. Bought at N32.

Enyinne:
Today I made my first sell as a newbie . Sold my zenith that I got on bottom price for 14.50 and I moved over to Gtb thereby increasing my stake more on it .
Thanks for all the advice I hv received here so far . God bless u all

Nice. But you shouldn't have.

Expose on Larfage from ARM below. I wish I have spare cash.

Earlier this week, Lafarge Africa Plc (WAPCO) released its FY 19 result which showed growth in PAT by 91% YoY to N15 billion. At the crux of the company’s performance during the year was the plunge in finance cost (-51% YoY), as expensive debts were taken off the company’s books following the sale of LSAH and the maturity of the first tranche of its bond. Further on the positive, we noted a decline in the admin cost (-29% YoY) thanks to improved terms on the technical fee agreement with the parent company, which drove the fees down by 39% YoY.

However, we found the company’s Q4 19 performance disappointing. The quarter’s performance was littered with low sales (despite an increase in promotional activities), increased promotional expenses, depressed margins and a higher tax charge. As a result, the company suffered an operating and after-tax loss of N569 million and N5 billion in the quarter, respectively. Away from the income statement, we noted the improvement in Lafarge’s cash flow in FY 19, with CFO and FCF growing 2.9x and 30x from FY 19 to N80 billion and N57 billion, respectively. WAPCO declared dividend of N1 which translates to a yield of 8% on current pricing.

Going forward, we have revised our expectation on earnings lower, especially for 2020. Our major adjustment was the revenue line, in light of the economic shut down that followed the COVID-19 outbreak. It is worth stating that while this is bound to affect the topline of all the cement players at this time and it is more so for Lafarge, given its concentrated markets and factory in the west which have particularly been hit by the economic shutdown. Thus, we forecast decline in volumes by 6% YoY to 4.6MT with a capacity utilization rate of 45% (vs 48% last year). Bulk of the decline is expected to occur over the first half. On the other hand, we see little room for any maneuvering in prices this year, especially after the rebates and promotional activities in Q4 19 failed to yield an increase in market share (unlike DANGCEM). Overall, we expect revenue will be drop by 8% YoY to N196 billion in 2020.

Overall, we project drop in PBT by 29% YoY to N13 billion. Lafarge is expected to enjoy the last year of the pioneer tax benefits on its Mfamosing line in 2020. This will keep effective tax rate down at 15% (vs statutory 30%). Thus, we estimate a decline in PAT by 30% to N11 billion, translating to an EPS of N0.73 (2019: N0.96). Asides the adjustments to our earnings estimates, we reduced the risk-free rate in our valuation lower to 12% from 15% and increased our risk premium to 6.5% (previously 6%). Based on the foregoing, we have revised our FVE on WAPCO lower to N19.41 from N23.59, which still translates to a BUY rating based on current market pricing. This translates to 86% upside from current pricing of N12.65 which has dropped 17% YtD. The upsides to our estimates would lie in: (1) getting approval for a 2-year extension on the pioneer tax credit from NIPC beyond 2020 and (2) should the planned capex on the Ashaka power plants and de-bottle necking. WAPCO’s forward P/E prints at 17x, a premium to Bloomberg MEA peer average of 13.2x.

Intendy:
Stock with new 52 week lows

Ardova #11.25k

Chai! My money is gone in this one. Na to dey scroll past this one anytime I see am for my portfolio.

veecovee:
BREAKING NEWS: POPE FRANCIS DROP HIS TITLE AS "VICAR OF CHRIST"

https://www.nairaland.com/3560501/holineness-righteousness-revival-messages-bible/28#88166708

What is the effect on Covid-19?

seyisanya:
. Wetin Tony do you ooo?

Baba delayed our dividend

I have limited funds and I am thorn between buying Firstbank and Wapco. If to say I no get UBA shares I for say e no go better for Tony.

freeman67:
Good morning to all the Ogas/madams here,

Please help a brother out. I am finding it difficult to process my e-devidend mandate for Datamax Registrars. They no longer have annex office in Abuja where I work. I was in GT branch where they used to be and was given a phone no to contact them.

I called the number and their representative told me that I can only do that through my broker. I contacted my broker and they told me that I am supposed to do that on my own either through my bank or directly with the registrar and that if I want them to do it on my behalf I would be charged for it. The charge though I haven't asked for but would say it will not be a problem if it is not much.

However, what seem to be a problem is a form sent to me as signature specimen form. It has transfer of shares clearly written on it and that is not my intention. I called the CCare rep attention to it and she is still insisting that it is a signature specimen form.

I would have tried it through my bank again but I don't want to waste more time and passports. The ones I tried with them for GTL and cornerstone did work out well, I only got acknowledgement text from NIBSS, birthday text and festivities greetings from the concerned registrars. Glaxosmith is still owing me some tasere dividend even after my efforts with GTL through my bank..

I leave in Niger State right now and work in Abuja. Is there an easy way I can do this?
Did anyone fill this with his or her broker here?

Normally for every stock you want to do e-dividend for, you must fill two forms: the share transfer form and e-mandate form. The share transfer form is from your stockbroker and is usually hand-delivered to them while the e-mandate is from the registrar and can be delivered through your bank, stockbroker or directly to the registrars.

The share transfer form looks like it is from ARM and they charge about N300 for each.

However, they sent a mail recently for investors to update their form in order to comply with SEC's efforts at reducing unclaimed dividend. I think by that mail they want to automate the e-mandate process and stop all these signing of forms for every stock you purchase. I assume you got the mail so you can call them to clarify that before signing the share transfer form so as not to waste efforts.

Rumour has it that Firstbank is about to merge with Heritage and Polaris bank

https://www.independent.ng/firstbank-set-to-merge-with-heritage-bank-polaris-bank/

emmanuelewumi:
Are you trying to say without this the share price would have fallen or risen?

It would have been a free fall since the staff are not allowed to sell until after two years.

Chibuking81:
Stock of 38 kobo EPs selling above #2 is an error, where stock of #1 and 80 kobo EPs are selling below #2.

They are trying to find their position.

Yeah. Their management uses a portion of their staff salary to consistently buy their shares and it is compulsory for all staff. I believe that is what have been supporting their price all these while.

Mcy56:
Public Notice!!
Please, I still needed a willing and interested person to invest in my biz for growth.
Kindly mention me for detailed discussion (don't quote pls). Or send me PM preferably.
Only serious person please and don't ask for a proposal tenable for a world Bank contract, it's a small biz I'm trying to grow and just needed small amount to expand it.
This is a genuine request necessitated by timing.

**NB: I didn't say 'give', I said 'invest'. If you decide to give too, it will be highly appreciated.
** If you dont invest it will still grow by God's grace.
For those ignoring my PM, una weldone too. God dey. I no mention name o.
Those that liked this post, may God bless you richly IJN. Thks for your encouragement.

What is the minimum capital required?

TLAX:
Try their website

I have checked. Found nothing.

Please where can one access financials of unlisted banks like Keystone? Any clue?

pluto09:
Some useful information there.....
Look at the facts stated there and form your own opinion, you don't have to follow their recommendation......

Thank bro. I normally do. but I needed secondary eyes from Nsempa gurus

Below is an expose on UACN with FVE placed at N8.96. Any secondary opinion please before I make a decision?

UAC Nigeria released its unaudited result for FY 2019 wherein it reported a profit from continuing operations of N6.1 billion (EPS: N2.14)- coming from its re-stated FY 18 PAT of N5.5 billion (EPS: N1.91). Relative to our estimate, revenue and profit deviated by 0.3% and 1.1% respectively. However, incorporating the loss from discontinued operations takes the earnings position to a loss of N9.3 billion. On its continuing operations, the outturn stemmed from one-off sale of its investment property which helped shoulder the OPEX pressure.

For us, the result further confirm our concerns on increasing OPEX (See our previous report: Old things have passed away…) which is yet to translate into improved sales. For context, operating expense increased by 23% YoY, while sales only increased by 11% YoY over FY 19. While the management has communicated its drive for operational efficiency as its key strategy this year, we are less optimistic of its success this year.
Elevated OPEX trump margin gains. While we have seen a lot of re-structing in UACN which started since last year and partly explains the jump in operating expense – both admin and S& expenses. We believe a 71% YoY (45% QoQ) jump in OPEX to N4.8 billion is unjustified when compared to a 3% YoY growth in sales to N23.4 billion over Q4 19. Though we saw gross margin improve by 311bps YoY to 22.3%, increased operating expense left EBIT lower by 36.5% to N1.15 billion. and EBIT margin compressed by 200bps to 4.9%.

Lower finance income further pressure earnings. Overall, PAT declined by 42.9% YoY to N1.41 billion over Q4 19 with related EPS at N0.49. The bottom line was further pressured by the lower finance income – mirroring the lower cash balance – which offset the gains from lower effective tax rate (-214bps to 9.3%). While we await release of the audited numbers, our last-communicated FVE prints at N8.96 which translates to a SELL recommendation relative to the current market price. UAC trades at a P/E of 4.6x which is a discount to its Bloomberg MENA peer average of 16x.

Abeg I have small shares in First bank. With this flat result should I sell or hold on for a while?

DeRuggedProf:
Hope it is not MILOST......
Cuz MILOST will make you lose your MILO MONEY.......

lol. you don turn rapper now?

No it's not Milost. I think it's VFD group or thereabout.

Toluway:
I never suggested it ma. I only expressed a surprise that it also joined others in the bullish movement, thereby allowing me to jaaa! But who are those who invested over 2bn in the stock !?

There was a news some months ago that a foreign investor wants to pump in money in Abbey Mortgage bank. I followed them for a while but lost interest later. Maybe they have finally invested?

Mcy56:
So, Morgan changed my CCNN to BUACement after putting a call thru to them.
Surprisingly, the average unit cost was also changed to 41 naira
I thought it should still read 17.30 that I bought CCNN. ..................I was expecting it to show over 100% profit nah.

That's an anomaly. Sold mine at 167% profit. Maybe you should contact them.

https://www.proshareng.com/news/STOCK%20&%20ANALYST%20UPDATES/NSE-Delists-A.G.-Leventis-Nigeria-Plc-From-Its-Daily-Official-List/48753

Ag Leventis seems to have been delisted from NSE.

Please who knows when they are going to make payment and the procedures for it?

TraDeRR:
Some brokers have updated their clients portfolio while some like mine is telling me first thing on Monday morning..

Hope they have done yours now?

Mcy56:
Maybe Morgan is waiting for individuals to beg them to change it again.

And I was considering them as an option.

emmanuelewumi:
It was changed to BUA Cement today, people will sell on Monday morning.

You are correct. Just checked mine and it is reflecting now at 1:1

aremso:
Sorry Sir, am not in the bus so i wouldn't know much.

Alright thanks.

aremso:
U cant sell wait for the exchange units of BUACEM

Pls explain further. How long?

Pls who knows when AG Leventis is paying?

ukay2:
PFA now know that NSE is where to be this year 2020.


Since NTB and FGN Bonds rates are drastically down and ridiculous

I'm sure it is not the PFAs. They can only invest a certain percentage of their AUM in equities as regulated by PENCOM.