₦airaland Forum

RabbiDoracle:
It was after that event that the legendary investor said : Beware of geeks bearing formula.

smart guys used formula to deceive him.

Those days if you see my excel sheets eh (paper profit everywhere)...Some times i even struggled to understand it.

hyness:
Back to ghost-mode. Goodnight Sir.

I dey always fear ghost o...

ihedioramma:
ONE LOVE .

You are back!!!

locodemy:
Nobody will tell you have a good stock.Just sell and the stock moves,come see blames.
I have been keeping Upl for a while now but it stays at 2.18.make I sell it now and the price move........na so so so blame i go receive.I dont mind selling a stock to jump into a better one if i see the opportinity.

#JustCurious....

Why are your trades a public affair ala Oando and above?

wanaj0:
Time for people to acquire JaPaul cheaply. How much is Milost going to pay us again for the shares? Time to hammer is here.

I pity shareholders of Diamond! JaPaul collected money from Diamond to pay back loan owed to GTB!

I pointed out here when the argument on sustainability of earnings of some banks was ongoing, that smart managers will continue to make money for their shareholders so always bet on them. Just like in NSE, there will always be latecomers to lucrative deals and they always carry the can when the smart early birds have finished chopping and have moved on.

Mcy56:
Pls house, regular updates on dividend qualification, closure and payment dates will be highly appreciated from our invaluable members who have easy access to the info.
Nagode

**Btw, where is oga intendy?

Easy....

Use any of links below. First one more official, second one more real time.

http://www.nse.com.ng/issuers/corporate-disclosures/corporate-actions

https://nairametrics.com/list-of-dividends-announced-so-far-in-2018/

Teeonly:
Please, does anybody know the retained earning for Wema Bank? Thank you in advance.

http://www.nse.com.ng/Financial_NewsDocs/21724_WEMA_BANK_PLC._FINANCIAL_STATEMENTS_APRIL_2018.pdf

Check using the link above.

phemmie06:
Who have seen NASCON results

Check NSE website or this thread...go back to mid March date.

Agbalowomeri:
Averaging down is bad trading strategy unless you are long term holder

.....except where the company is inherently bad and doomed for death.

currentprice:
cha! let me go eat before i read the post above me

Gbam!!!

wanaj0:
Not sure where you got that impression from. I only stated that during the forex crisis, Dangote was getting forex at subsidised rate from government. I also stated that I don't see him selling products in Naira. I am impressed by the refinery and petrochemical complex! He is bold and believe in Nigeria.

There is always the Good, the Bad and the Ugly. Fact is that the man thrives where there is monopoly and government support. He stays away from highly competitive sectors especially where the barrier of entry is low! He has failed in sectors where there is no government protection and is an all comers affair.

Those are TRUTHS.

BUY the TRUTH and SELL it not

That is true and that is his business strategy. It has also made him one of the wealthiest men in the World. What can be wrong with that? I dont see any and don't know why people have issues with that. Conventional wisdom says you should play to your strengths...it will be much more beneficial to you than trying to overcome your weaknesses.

Yayira:
not as terrible as YOU and ORACLE were expecting.



Oracle right now..

You no dey serious....

TLAX:
20k dps

http://www.nse.com.ng/Financial_NewsDocs/Corporate%20Action%20Information%20MAY%20BAKER4418.pdf

bisiki2:
@ Loco,

FCMB result is out.

What does it say? Highlights please...

currentprice:
http://www.nse.com.ng/Financial_NewsDocs/FinancialStatementFull_MAY%20%20BAKER_2018-04-03.pdf

20k dps

DOLLARTEX:
OK,you write with so much passion!if fidelity is down today,other banks time will come but not today.these results are not for real!

Actually, my HPR for Fidelity was thripple digits. I am just wondering how true this thing about using attractive audited but questionable figures forEurobond raise is. Its just bad for the market as a whole.

DOLLARTEX:
Do you have a unit of fidelity bank?

Used to. Will still own it in future....at the right time.

DOLLARTEX:
What an elder sees while sitting down.if you like climb mountain,for where!

If true, more CEOs and company statements need to be investigated by SEC if they are truly equipped for this. In any case, if you are an investor in a bank, I still believe that the volume of NPLs, provisions and loan impairment charges taken by many banks in the last couple of years are not real...be you tier 1 or tier 2. With the magnitude of the the drop in oil prices between 2014 and 2016 and its after effect on other sectors, especially in oil based economies, i find it difficult to believe that less than 5 banks ever recorded, or currently have double digit NPL ratios. Meanwhile that was the sector most of them rushed into between 2012 and 2016.

For me, the state of risk management in all the banks, coupled with herd mentality just does not support single digit NPLs we are currently seeing. Small small, the true state of the institutions will emerge...Tier 1 and 2 alike.

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

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.

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.

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.

Mpeace:
https://www.proshareng.com/news/CORPORATE%20RESULTS/LAWUNION-declares-N910.71m--PAT-in-2017-Audited-Results--SP-N0.73k-/39251
This is not a bad result, but for the fact that there us ni dividend.
Companies get liver these days o. Them go just release result forget say shareholders too go chop. They retain all profits, director earn bumper allowance while investors are left with paper gains for all their efforts.

Jejebaba:
As per Nairametrics, they declared 4 kobo as DPS.

Correct..

http://www.nse.com.ng/Financial_NewsDocs/21523_LAW_UNION_AND_ROCK_INS._PLC._CORPORATE_ACTIONS_MARCH_2018.pdf

veecovee:
I think this size of dividend is a kind of humiliation to the company ... Anyway who is their registrar pls

EDC Registrars

investman:
Results will be out any time from now

If so...fine. We are observing. Maybe its just a few of them caught in the delayed approval.

bestidafa:
I love this man.

Agbalowomeri:
14 years

RabbiDoracle:
Tier 2 results will be out today.

No way! The meeting where the ready ones were scheduled for final consideration and approval last wednesday ended up not approving them as it was busy inducting the new DG and MPC members. Next scheduled meeting is Apr-11...except a miracle happens and they decide to approve the accounts outside the meeting window.

Happy Easter Folks!!!

RabbiDoracle:
You go wait make their results show first.

More people will jaaaaaaaaaaa.

I know this for sure.

Jejebaba:
I learnt this from my Afripud bitter experience. I was waiting to collect dividend and didn't sell at 5 naira just because of 40k dividend and the price is now 4.06 lost 0.94k because of 36kobo.

When you wake up is your morning. You have learnt a critical lesson for the rest of the season and next year.

.....and the tier II banks AFS are stuck in CBN. Monitoring activated.