Nigerian Breweries Plc FY 2018 – Bleak outlook as fresh pressure points kick in
Bleak outlook as fresh pressure points kick in Following its FY 18 result, management of Nigerian Breweries Plc (NB) hosted an analyst call where it provided insight into the strategic outlook of the firm over 2019. Despite paucity of insights into the numbers, the key take-away was management’s guidance to raise product prices this year. […]
Zenith Bank Plc FY 2018 – Positive earnings growth in the near term
Positive earnings growth in the near term Following the release of its FY 18 results, we had engagement with management to seek clarity on grey areas in the result and guidance for the year ahead. Management guided to 7.5% loan growth over 2019 with a lot of focus on Agriculture and manufacturing given government incentives […]
#ILoveMyFamily: I Want To Leave Banking For Carpentry.
It was Saturday and I had been in my workshop putting together a new small bookshelf since after breakfast. I checked the time, it was mid-afternoon and my wife would be done with lunch. The plan was to take a nap right after lunch and head to a football viewing center after. I prefer watching […]
Post-Election: Where are Fixed Income yields headed?
Following the successful re-election of President Muhammadu Buhari into office this week, it appears that the macroeconomic landscape for the rest of the year seems unchanged from 2018 with the obvious deviation being the prospect for a lower crude oil price this year, in our view. To buttress, our forecast for average crude oil prices […]
ARM Research – Stock Recommendation for the Week , February 25
ARM Research | Weekly Call The equity market closed the previous week negative, as the NSE ASI moderated by 0.61% WoW to 32,515.52 points with market capitalization shedding ~ N74 billion, and a YTD return of 3.45%. The bearish sentiment was driven by losses across few sectors – Brewers (-3.76%), Cement (-0.80%), and Personal care […]
Initial View – Zenith Bank Plc FY 2018 – Lower impairment, harbinger of 2018 earnings
Lower impairment, harbinger of 2018 earnings • Zenith Bank Plc (Zenith) released its audited FY 18 result yesterday with EPS expanding 11% YoY to N6.16 (below our estimate of N6.72), largely on the back of strong declines in interest expense (-33% YoY to N144 billion) – which masked the 7% YoY decline in interest income […]
#ILoveMyFamilySeries: At Last, Help Found Us
Our new home is way more comfortable than the former one. It is more spacious, the kitchen tastefully furnished and finally, I have a workspace for my favorite hobby – Carpentry. The kids love the space in the house and the driveway. As they are on mid-term holidays, they spend most of the day playing […]
Valentine’s Day: Five Magical Shades of Love
Valentine’s Day is a great day for appreciating your loved ones. It almost always feels like the day should not end and this is the essence of love. However way you decide to spend this special day, we have five wands that will make it extra magical: FIND THEIR NEEDS AND FILL IT In one […]
Five budget friendly ways to show love this valentine
Love is a beautiful thing! But it can also be expensive, especially at a season like Valentine. While it is OK to splurge on the person you love, sometimes you are unable to. Your wallet and your heart just refuse to cooperate. We feel your predicament and agree that you and your bae still deserve […]
The Pentad – Urban Retail Price Tracker | Market Research
Prices take an inch back Our Urban Retail Price Tracker – the PURP index – recorded a modest pace of price increase of 0.42% MoM to 111.3 pts in January (vs 0.45% MoM in December). Price pressure remained more evident in the commodities and consumer basket, with the increase in the latter driven largely […]
