Fidelity bank notify nse of delay result

Chai!

Mcy56:


Fallacy of hasty generalization.
The Unity Bank news is not new now.
So far, the Primewaterview holding deal sailed through, hoping for a safe landing for Japaul.
My oga no vex o.

Why I go vex?

Was reading it on Bloomberg and thought to share and comment.

currentprice:
Fidelity bank notify nse of delay result

Chai!

April fool

currentprice:
Fidelity bank notify nse of delay result

Chai!

Audit delay Ko....

On top audited half year result? Ohok oooo

RabbiDoracle:


Why I go vex?

Was reading it on Bloomberg and thought to share and comment.

Na bad news you dey quick come share.

After you don use mouth spoil the deal.

RabbiDoracle:


April fool

Siddon there dey talk April fool

RabbiDoracle:

Why I go vex?
Was reading it on Bloomberg and thought to share and comment.

Oh, thanks.
Keep doing your good works.
The news is not new and Unity shares has been witnessing its after effect even before the holiday.

Agbalowomeri:
If there is nothing tangible being bought or sold, it's as pure as gambling to me; that's my own investment principle

You are indirectly calling pastor a gambler.
Pastor must hear this.

currentprice:
Fidelity bank notify nse of delay result

Chai!

I need that stock at 80 kobo.
If I can acquire 200 million units and join it with Oracle's 800 million units, we will form a mini board and take over the bank.

Godisfaithful:


http://www.nse.com.ng/Financial_NewsDocs/21601_FIDELITY_BANK_PLC_CORPORATE_ACTIONS_APRIL_2018.pdf

Ahh.. April 30th loun loun...

gabscity:


Ahh.. April 30th loun loun...

Chioma Ajunwa!!!

leo1234:


I need that stock at 80 kobo.
If I can acquire 200 million units and join it with Oracle's 800 million units, we will form a mini board and take over the bank.

no wonder it fell so fast.

I'm waiting for Fcmb and diamond to see where it will get to.

mendes911:


Na bad news you dey quick come share.

After you don use mouth spoil the deal.

My mouth small na. It is not as loud as Stephen own

Agbalowomeri:
Siddon there dey talk April fool

RabbiDoracle:


no wonder it fell so fast.

I'm waiting for Fcmb and diamond to see where it will get to.

RabbiDoracle:


I don't have Dangsugar.

I only gave projections I think the price will hit based on their results.

I timed that stock then but it didn't get to the margin of safety zone based on the result then. I thought it I had bought, I will be paying a premium but I was wrong. When that earth shaking result showed, it took off.

I'm still in the market ooo but with smaller units of stocks here and there.

History will repeat itself

RabbiDoracle:


no wonder it fell so fast.

I'm waiting for Fcmb and diamond to see where it will get to.

Cc: Mpace

RabbiDoracle:


even missionary rejected the dividend

He is a man of faith and vision.

I'm waiting for the period after election in 2019.

RabbiDoracle:


no wonder it fell so fast.

I'm waiting for Fcmb and diamond to see where it will get to.

This picture funny die...

#OfficiallyOutOfNSE #CapitalPreservationMode #WatchingMode #BeBackAroundFall #GoodLuckToThoseInTheMarket #AllTheBest #Pray4Nigeria

RabbiDoracle:


no wonder it fell so fast.

I'm waiting for Fcmb and diamond to see where it will get to.

TLAX:

EDC Registrars

what has their registrar got to do with their decision to pay dividend?

Godisfaithful:


http://www.nse.com.ng/Financial_NewsDocs/21601_FIDELITY_BANK_PLC_CORPORATE_ACTIONS_APRIL_2018.pdf

Lol these guys are still auditing. Others don do board meeting sef. Diamond and first bank has done board meeting to approve audited results.

Mpeace:
Lol these guys are still auditing. Others don do board meeting sef. Diamond and first bank has done board meeting to approve audited results.

Meaning is that there is disagreement between the Bank and the Auditors on classification of items and or provisions to be made. They will be having series of meetings to close the gap. Expect Full Year audited result to differ from estimate based on quarterly reports. Not a good story.

Those who have done board meeting must have submitted their results to the CBN for approval.

wanaj0:


Meaning is that there is disagreement between the Bank and the Auditors on classification of items and or provisions to be made. They will be having series of meetings to close the gap. Expect Full Year audited result to differ from estimate based on quarterly reports. Not a good story.

Those who have done board meeting must have submitted their results to the CBN for approval.

Chai fidelity don swindle boys
One guy has been shouting here since that the quarterly result was plastic, just to secure eurobond

Dangote Flour Mills Plc ( SELL, N 7.00 )
04 April 2018
FY17 earnings in line with estimates


Event: Dangote Flour Mills published FY17 results, reporting revenue and EPS growth of 32% y/y, compared with the preceding 12 month period (FY16 results were 15 months to December 2016). Stripping out the one-off income from the sale of the company’s noodles assets, earnings from the core business were flat. Full year 2017 revenue and net income were largely in line with SBGS estimates. The Board of Directors has recommended a final dividend payment of N0.20 per share for the first time since FY12, which implies a pay-out ratio of 7% and dividend yield of 1%. We had estimated a zero dividend pay-out for FY17 given the company’s retained earnings only returned to positive territory in 9M17.

4Q sales weakened significantly across product lines: In what seems to be a trend mirrored across the sector, Dangote Flour reported a 29% q/q decline in revenue, despite a 4% q/q price increase according to our channel checks. Flour and pasta sales in the quarter declined by 30% and 31% respectively, with revenue split maintained at 84%:14%. For FY17, flour sales increased by 32% y/y primarily as a result of price increase, while pasta recorded more moderate sales growth of 6% y/y. This hint of volume pressure reinforces our view that revenue growth will be in the single digit in FY18E.

4Q EPS decline despite improved operating efficiency and lower finance costs: We highlight the significant improvement in operating efficiency seen in 4Q17, with gross margin expanding 300bps on lower production costs. Operating expense as a percentage of sales also trended to a historic low of 4%, from 9% in 3Q. In addition, earnings received a boost from lower finance costs as net debt improved to N15.4bn from N21.9bn in FY16. Nevertheless, EPS declined by 37% q/q in the quarter as earlier recognised haulage recovery gains of N1.8bn were reversed, and the effective tax rate increased to 51%, vs. an average of 35% in 9M17.

Catalysts: We see faster than modelled volume growth for flour as a key catalyst for earnings. In our view, a sustained improvement in operating efficiency would be supportive of margin accretion and earnings growth for Dangote Flour in FY18E.
Valuation: We maintain our SELL recommendation with a TP of N7 for Dangote Flour Mills. On our numbers, Dangote Flour is trading on a FY18E P/E multiple of 7.3x compared to Nigerian agro-allied peer average of 9.2x.

****Not to be taken as endorsing or criticising the stock.

UAC Of Nigeria PLC ( SBUY, N 25.00 )
04 April 2018
Weak performance in 4Q17


Event: UAC of Nigeria’s (UACN) FY17 results showed revenue growth of 5% y/y and an EPS decline of 74% y/y. Net income tracked behind SBGS and Bloomberg consensus estimates by 54% and 47% respectively. The variance was largely on the operating expense and interest expense lines. The Board of Directors has recommended a dividend payment of N0.65 per share (FY16: N1.00), implying a pay-out ratio of 141% and dividend yield of 4%.

Revenue weakness in 4Q17 led by food and logistics: 4Q revenue was flat q/q and declined by 24% y/y. The performance of the food and agro-allied segment was particularly weak, declining 7% q/q for the third consecutive quarter. We flag this as a risk to our FY18E estimates, which is premised on our view that revenue growth will be driven by this segment. Logistics also declined by 17% q/q in the quarter on reduced client volumes. On the other hand, revenue from paints increased by 42% q/q mainly on volume growth (4Q being traditional peak sales season). Revenue from the real estate business also recovered from a very low base in 3Q, increasing over seven-fold to N857 million in 4Q. For FY17, the food and agro-allied segment contributed 80% to total sales, up from 76% in FY16. However, contribution to PBT declined to 44% in FY17 from 52% in FY16 as a result of higher input and finance costs.

EPS decline on margin contraction and higher finance charges: Despite gross margin expanding by 900bps in 4Q17, likely the result of restocked inventory at lower prices, 4Q17 EBIT margin contracted 300bps to 7% as operating expenses/sales increased to 17% from 14% in 3Q17. Consequently, the FY17 EBIT margin contracted to 8% versus the 10% we were expecting. FY17 net finance costs of N4.3bn, was up 212%, and higher than the N3.7bn we were expecting. We expect that the various rights issues concluded over the last year should improve the group’s working capital position and lead to lower finance charges in FY18E. This guides our expectation of EPS growth in FY18E after including the additional shares issued post-rights.

Risks: Noting that earnings were impacted negatively by higher finance costs, we continue to highlight the risk from UACN’s significant debt position, 95% of which is short term, high interest obligations.
Valuation: We maintain our SBUY recommendation and target price of N25. On our numbers, UACN is trading on an FY18E P/E of 9x, compared to Nigerian food and agro-allied peer average of 14.1x. A conference call on UACN’s results has been scheduled for April 5, 2018 at 3pm Lagos time.

***For Reading and information pleasure only. Not an investment advisory.

currentprice:
Fidelity bank notify nse of delay result

Chai!

I talk am before say any bank wey no release result by March 31 may not be able to release before April 11. Lets keep observing.

dvaliant:


what has their registrar got to do with their decision to pay dividend?

What has your post got to do with response to a question in the post you quoted

mendes911:

Na bad news you dey quick come share.
After you don use mouth spoil the deal.

Don't call my oga promoter of bad news.

MSCI MOVEMENT WEEK ENDED 3 APRIL 2018/MARKET COMMENT

The fund kept a clean slate for 3 April 2018.

This is no surprise due to the major event expected by the end of today. This week is likely to be for the market makers to have a field day.

Caution: This information is for educational purpose only. Data used are assumed to be correct. You may need to verify the data from other independent sources if in doubt. For any clarification you can always send me a mail via this forum.