₦airaland Forum

onegentleguy:
@ Rebakah, the figure of 453B u quoted as PAT for YE 2018 is incorrect !!
I have copies of MTN Nigeria results including that of Q1 2019.
When analysing their financial print, its important to focus and work solely with that of MTN Nigeria, as that is the only subset thats been listed.

For FY 2018, the group made a PAT of approx 145.7B... up by near 80% from the previous year(2017) guidance.
...with Attributable earnings(EPS) rising by approx same margin(79.7%) from just above N199 in 2017 to N365.87 in 2018.
Revenue also came good amidst a cut down across the groups cost line, safe for the core of the company's roaming cost and DNOP.
I have been impressed by the drop in cost related to VAS, finance cost and transmission cost.
From where am standing, there seems to be far more pros ahead of cons with their result.
Adjusting for risk @ zero growth, the expected listing price seems a juicy bargain, but then, this is Nigeria... and this is the NSE.
But then again, we are talking about MTN !!

Time will not permit me to give an in-depth analysis of their financial print.

Cheers.

#backtowork

You are well appreciated, thanks.

currentprice:
how 85.6? u mean 22.5

Thanks for the correction.

rebekah2011:
453b

Are you sure about this?
I am talking about net profit and not gross profit.
If PAT is 453b then eps will be 453/20 which gives us 85.6.

If that is true, mtn will be selling at a ridiculous low price at N90 as p.e will be close to 1 . impossible

stcool:
They have started with their estimates... Retail investors may not get this one until they have taken it to 180-200

https://businessday.ng/technology/article/updated-offers-fly-in-from-investors-ahead-of-mtns-listing/

MTN would be listing about 20.35 billion shares, at possibly an N80-90/share price range, according to the consensus analysts’ estimates.

That would value the stock at around 5 times Earnings Before Interest Tax, Depreciation and Amortisation (EBITDA). That’s almost half the frontier average, suggesting that at N90 per share, MTN will be undervalued compared to telecommunication companies in frontier markets.
Analysts at Cordros Capital believe the stock is worth NGN194 per share, implying a 116-143 percent upside on the proposed listing price.

On this basis, it is quite understandable that investors are falling over one another to get a hold on MTNN’s stock.

I cannot understand while all this analysts are so fixated on EBITDA.

What I want to know is PAT, eps and p.e.
With that I will be able to do my own assessment of the right value for mtn.

Does anyone here have an idea what is the PAT for mtn for the year 2018?

cc : Rebekah, ogg, wanaj0

wanaj0:
CI Leasing is planning to raise money

Oga wanaj0, welcome o.

mendes911:
This is one of the "apostles" of Sir ChiBuKing:

http://www.nse.com.ng/Financial_NewsDocs/25940_JULIUS_BERGER_NIG._PLC._FINANCIAL_STATEMENTS_APRIL_2019.pdf

EPS Q1 drop from N2.23 (2018) to N0.20 (2019).

Obene Kwa Kwa.... x4

Is like is only the banks that are making money o.
This one weak me...

aremso:
flat result!

It is not a flat result but a negative one.

rebekah2011:
Diamond provided impairment on loans of N155b

Thank you my brother, na you dey do oga wanajo job now.
I am still looking at the result, the thing is too tempting for me.

rebekah2011:
http://www.nse.com.ng/Financial_NewsDocs/25803_ACCESS_BANK_PLC._FINANCIAL_STATEMENTS_APRIL_2019.pdf

I no understand this result o, sey this one na magic?

rebekah2011:
Or maybe you bought from another stockbroking house different from your earlier holding in the stock

Nope, the same stockbroking house.

rebekah2011:
They will have your details. I sold all my Zenith in 2018 and bought this year again. I have finished spending the dividend sef.

They have not paid me o, they asked me to fill another form.

Yayira:
I sold all the zenith I bought last year.. so if I buy again I’ll need to fill another e-dividend form?
Smh nawah oo

That is the mistake I made with zenith, now I am starting all over.

Yayira:
Which companies are they working for ? So I’ll avoid the companies like plague or hustle for my dividend on nse..

after UPL tie my money down for close to a year na so their registrar dey tell me to come to their office whenever am in the country. I dash them the dividend still sell the stock at loss..

FCMB and NAHCO, those are the two companies I have with them for now.

RabbiDoracle:
You don't need to bother yourself. Go to their site, download the form and fill it. Ensure you put your BVN number. This is enough to verify who you are. That is what SEC wants them to do now. So long as there is BVN supplied by the person filling the form, it is left for the registrar to confirm it themselves.

I have done that already, they said my form would not be processed without banker's confirmation or transferred form.
I did the same for other registrars but they are the only one asking me for this document.

Mcy56:
Chai! Good to read that you are becoming accommodating las las.
I sincerely tot you reported me before, which led to my ban cos you hate to read 'luv' comments and I also dread 'curses', so I don't want you to report me again. Apologies if my assumption was wrong. I and my luff may eventually become your online church member one day you know, if you continue to show love, the greatest of all commandments. Not in any way saying you should compromise your biliv. Lol.
#Shalom

Cardinal stone registrar gets wahala too much.
After my bank uploaded my e- dividend form, they were still asking for bankers confirmation or transferred form. And to make matter worse, they will not accept a scanned copy of those documents.
I think they are just trying to frustrate people in processing their dividend so they can continue to sit on the money.

rebekah2011:
Where is the result of the rights issue of Mutual benefit Insurance? SEC and NSE, they keep falling someones hands.

So mutual benefit did a right issue that is not yet listed??

rebekah2011:
We cannot float our currency to please them. I would rather suggest that we even limit importation from them. No big cars like Rolls Royce, Limo, in fact, any car above 15m should not be imported into this country again. Then we can focus on building local capacity in many areas.

Free floating is not to please anybody, I see it as part of the reform that is necessary to move our economy forward

RabbiDoracle:
You don't seem to understand how free float works. Do you?

İf you free float, it is supply and demand forces that will drive the currency prices. CBN will have no control over it. This will be worst than devaluation. Currency speculators will finish us. Any intervention by CBN will be seen as capital controls.

Any slight event in Nigeria like rescheduling elections or killings by BH will send the Naira to 1,000 or more. And this will cause the severest form of inflation especially if your economy is import dependent.

The best we can do in Nigeria is to develop our local industries and depend less on foreign goods. Made in Nigerian goods should be replaced with foreign goods.

Like someone mentioned, develop infrastructure so that it will attract FDİ. İmprove security greatly. Security is messy in Nigeria. Assets can't be protected where there is no security.

This is what we have been saying all this year that floating will kill us.
I don't subscribe to that argument, Egypt did it recently and they seem to have gotten over the initial shock.
PMB was making the same argument against devaluation when he came in. He was forced to change gear when oil price was going down and reserve at a low and critical level.

One day, when oil enters a very long bearish mode and we exhaust our reserve nobody will tell us before we let go of our support for the currency..

courage89:
They made similar arguments 3-4 years ago, Nigeria needs to devalue its currency to attract FDI. We need to devalue to make export cheaper. Loads of bull...What happened to the FDI after we devalue our currency? What kind of FDI did we attract, portfolio or brick and mortar investments? What happened to the FDI after these investors made their returns? Has our cheaper currency helped us to export more industrial goods?

Let's not kid ourselves, devaluation of naira at this point is not in the best interest of our economy. It will create high inflation, high interest rate, loss of manufacturing abilities, loss of jobs and other problems.

To the proponents of currency devaluation, what's the objective this time? To attract short term portfolio, long term portfolio, brick & mortar investments? Devalued naira will only attract short term portfolio investment, which is detrimental to our economy. We're all living witness to the economic effect, cycle and runaround based on what happened to our stock market in the past 4 years.

Our objective should be how to attract long term portfolio, brick and mortar investments. The best way to do this right now is to address factors that lowers cost of doing business in Nigeria. Power, transportation, ease of doing business policies, security, currency stability and others. Our conversation should revolve around these subjects and not currency devaluation. By fixing these problems, we fix our economic problems and others at the same time.

I can't understand why we always crucify the international community when they talk about our currency valuation.
From my own understanding, what they are advising us to do is to float our currency which is different from devaluation.

We can continue to deceive ourselves claiming that what they ask us to do is for their benefits.
A time is coming when we will not have enough money to subsidies our currency again, then we will know who is right or wrong all along.....

locodemy:
pls tell me other stocks you have that have performed better than these three since the beginning of this year......


secondly,I like having only one fundamtally sound portfolio.If Transcorp and fcmb will answer my calls,I am ready to make my portfolio 100% zenith knowing fully well that if it doesn't shit it will vomit.

Oga Oracle has become my mentor in this business.He doesn't joke with fidelity Bank.Only God knows how many units he has in that bank..........

You want me to mention all my stocks

I will only mention one that has performed more than the 3 since the beginning of the year, JB.
Of course this is not the best time to buy JB but there are other good stocks that are at the year low and waiting for investors to pick them

locodemy:
pls house,I still want to know what the chart is saying about fcmb, Transcorp and , zenith.

TA is all I need now b4 I invest the money I got today for averaging down.

our people use to say No need to see ghost again after you passed through the forest.Hope some one understands where I am going...,..

I actually think you need more than 3 stocks in your portfolio.

In picking stocks, I always think it is necessary to have some that don't easily follow market daily fluctuations.

I can't see any of your mentioned stocks doing a solo performance on the NSE.


Coincidentally I have all the 3 stocks, but the 3 of them put together are about 22% of my portfolio as at today.

Mcy56:
No, it doesnt. To me it only means that people are showing interest and seeing bargains.
If increased volume persists, dumping will reduce and reversal may be seen.............thats how I normally see it anyway.

In TA, increased volume and drops in price are not a good sign.

GonFreecss1:
I understand.


I have been wary about increased subscription in fixed income, excess liquidity and falling fixed income yields. Yet NSE is still going down, that is a big red flag. I might be wrong though, but we shall see.

Companies have paid 20%+ dividend yields before, so it can definitely happen again.

When did companies pay 20%+ dividend yield on NSE, good companies o??

mendes911:
Those that bought at 66k can rejoice till eternity shaaa. They already have 50% profit that no one other can take away from them (unless they collect the N1 and reinvest in another yeye stock).

ah ah yes.

mendes911:
When many of us are at N3.00 junction calling their name, won't they answer? Are you sure DBN shareholders hasn't been credited with their Access Bank shares.

Month of April. Month of Goodies!

Those who got the N 1 largesse from access should not rejoice yet until they sell their shares in access.

Chibuking81:
It mightbe uninformed investors who have been caged for long time, and have been on their stockbroker neck to sell when ever there is an opportunity to bail out, who will later regret when they find out. And by now they have not heard of their wonderful performance, but as long as this their result stand, with 8 kobo EPs and 3 kobo dividend, they are the best so far.
For instance.
1. Zenith at #22 with dividend of #2.50, and 100 unit of Chams at 20 kobo = #20 naira, 3 kobo dividend x 1000 = #3
2. Zenith EPs of #6.15, while Chams 8 kobo x 100 = #8

For me as caverton bus is filled up, Chams bus suppose to be the next available bus.

This is definitely your first time of buying chams.
Those that have been trapped in the company (charms)for more than 10 years will not be impressed or excited.
Nothing bad in living in a dream land.

Yayira:
0.40 kobo ? Smh from 1.25k last year ?
And they made profit oo.. why are all these companies being stingy this year

Not being stingy my sister.
They are giving out almost all their earnings as dividend.
What affect them is the impact of dilution.
The increase in OS was just too much for current earning. I dont expect anyone who is current with happening in the company to stiil be holding the stock after their recent merger.

mendes911:
Access that I will buy for N3.00 by November. Tritri and his "friends" loaded up last week at N7. Serious enjoyment.

I am also waiting for a pull back but I don't think N3.00 is realisable.

phemmie06:
http://www.nse.com.ng/Financial_NewsDocs/25348_JULIUS_BERGER_NIG._PLC._FINANCIAL_STATEMENTS_MARCH_2019.pdf

Good one from JB

tritritri:
The best way is to go dere office and fill all required form with ur ID.

PLOT 89A, AJOSE-ADEOGUN STREET, VICTORIA ISLAND EXTENSION, LAGOS
http://veritasregistrars.com
ENQUIRY@VERITASREGISTRARS.COM
+234 1-2784167
+234 1-2784168

You can call them before going to knw what needed..


You can email dem but i don't advice. face to face and less dan a mth or 2 u will get ur dividend.

Veritas doesn't pick call, your best bet is to send an e-mail.
If you are in Lagos you can go to their office, for those of us who are not in Lagos, it is a long story.

mendes911:
When you and other big boys didn't appreciate Zenith Bank, I wonder what you guys want again.

#RunsAway.

Ah, ah, Mr market is the oga patapata , we cannot argue with him