Access Bank Plc (Access) full-year 2018 earnings released this morning showed EPS expansion of 53.2% YoY to N3.28 following material decline in loan-loss provision (-57% YoY to N14.7 billion) and…
Read More
DANGCEM posted an impressive growth in EPS by 91% YoY to N22.9 (missing our estimate of N13.52) over 2018. The deviation from our estimate stemmed largely from the long-awaited tax…
Read More
In a bid to expand its clients' access to market information across Africa and beyond, ARM Securities have signed a partnership agreement with BMCE Capital on global research. ARM Securities'…
Read More
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…
Read More
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…
Read More
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…
Read More
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…
Read More
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),…
Read More
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…
Read More
The Nigerian equity market closed the week negative, with the NSE ASI shedding 2.51% WoW to close at 30,636.36 points. The bearish performance was driven by losses in the most…
Read More