₦airaland Forum

DeRuggedProf:
Janet sinks with pride!
Searching for a black cat in the darkness takes more than moving around with a bucket of white paint.
No healthy adult moves around with his mother carrying pampers for him....
Run and hit is ALWAYS better than Hit and run....

Who released this flood of money I am seeing advancing like locusts, Choi.
JAPAUL, thy bride approaches, but thy pregnancy shall result in a stillbirth...

Baba break down your parables abeg. I'm in Japaul bus and would like to know what you are talking about.

DrAwo:
For those in the Vitafoam bus, enjoy your loot...

The company seems to be enjoying a breakout year. The question you need to ask yourself is "why is vitafoam flying and how sustainable is it?"

Q1 saw EPS double year on year. Q2 also did the same. A closer look at the numbers however show reduced revenue in both quarters so the company didn't make more sales but is making higher profits...

Cost of sales declined significantly in both q1 and Q2 2020 as compared with 2019. Looking as the notes to the financial statements show that their raw materials were bought cheaper year on year.

A Google search shows polyurethane (derived from crude oil) as a major raw material in foam production. So you see where this is going - the massive drop crude oil price was a big blessing for vitafoam...

Expect a good q3 too as crude oil prices are still down year on year but don't expect the party to continue forever. Oil prices are rebounding.

Dont be the one holding the empty cup when the music stops....

Nice one boss. More grease your elbow

abuhusna1:
Rotfl. You just make me dey laugbalo e like mad man.

Easy o before they mistake you for mad man

PETERiCHY:
The info is for NEWBIES to hold tight so they don't EJACULATE QUICKLY because MOST EQUITIES will REPRICE with circa 50% profits due to NAIRA DEVALUATION.

WE have been THERE before.
We are about to witness a REPLICA of what HAPPENED in MAY/JUNE 2016.

BARGAIN HUNTERS TAKE NOTE!

You are in tune. I was just pulling your leg.

PETERiCHY:
For those ovulating on the MARKET UPWARD TREND bear in mind last March USD sold for N365.00k while now it selling for N462.00k

That's 25% increase on USD and one will need 33.3% to BREAK EVEN on the recent NAIRA DEVALUATION.

Inessence if you have n'ot made atleast 40% profit on your PORTFOLIO to BREAKEVEN on the NAIRA DEVALUATION and you are jumping up then know that you are iya Basira

EXCEPT you brought in your FUND at the rate of N462.00k per USD

BARGAIN HUNTERS TAKE NOTE!

Chairman. You no just like our happiness.

stcool:
Bank name?

Private chat? But I don't think you can get more than 4% with that amount though

stcool:
Good day all, please I need info for a friend.

A friend wants an investment that can guarantee 10% - 15% per annum.

He is an Igbo businessman and used to invest in treasury bills hence he is looking for another investment opportunity.

He does not want to do fixed deposit due to low rates, No stock market.

*Initial investment N20M

Anyone knows any good investment/assets management company that can deliver. Preferably an investment house may be bank/ insurance subsidiary etc that can pay a return of 10 - 15 % per annum.


Thanks
cc: Oracle, Pa Emma, CoolCash, Loco, etc.

Kindly help.

I can introduce you to the bank I work in where you can negotiate the rate for FD.

[quote author=leparj post=89992158][/quote]You mistook him. NASD is like NSE with some shares traded there that are not traded on NSE. He said he owns four of those shares traded on NASD.

[quote author=onegentleguy post=89979433]Thanks to everyone for the warm welcome and love.
...I heart u all !!

This is wishing us a blissful week ahead. ...and of course a corona-free and healthy life to our families and everyone we hold dear !!

Regards[/quote

Welcome back boss.

Dupeodus:
The AIICO q1 result is a continuation of aiico's management practice of depressing the financials to keep the stock price low so they could finish whatever they need to do. The current need is for the MD that was appointed lat year and had no shares before to accummulated shares and is currently doing it at relatively low price. Look at that q1 results again. The last line is a finance cost of slightly over =N=1 billion naira. This is a company that is flushed with cash and government securities. The only liability in their book is the IFC loan of $7 million. I will even grant that included in that finance cost is maybe =N=350 million in the depreciation of the naira and you add that to the normal quarterly cost of about =N=50 million related to the loan. That is still =N=400 million, a good 600 million less than what was charged. But you know what, let's even leave it as the first quarter charge, unless naira completely goes to the gutter, it will not recur in subsequent quarters. That gives you an idea of what the year will look like. This is is addition to an unexplained charge of =N=975 million that AIICO continues to charge every quarter to add to the 'other contract liability' line. By the end of the first quarter, about =N=6 billion has been accummulated on that liability line that AIICO has never explained to whom or what product they owe the money to. Every quarter, it's a charge to the P&L with a credit to that liability. I have checked the financials of other insurance companies and they don't have anything similar. Lastly, you have to consider that the Leapfrog investors bought at =N=1.20. they are no fools if you research into them. They must know what they are buying into.

That's quite revealing. But you have been saying this since 2018. Are they not done with the manipulation? Why then would someone invest in a company that manipulates their books?

austinkenneth:
Exactly the reason I didn't buy more. But there is a 1 for 5 bonus coming.

I know about the bonus but a combination of outstanding shares dilution and declining profit don't look attractive to me.

dharpzee:
Na their 1 for 5 bonus dividend o, I wonder when their qualification date go be sef.

Some bonus be like Christmas chicken o. They fatten them up to be killed later.

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.