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Diamond Bank Plc – Earnings Sink on Higher Loan Loss Expense

Culled—Proshare November 1, 2016/FBNQuest Research •         PAT down 78% y/y – behind Vetiva and Consensus estimates •         Loss posted in Q3’16 standalone •         Worrisome signs ahead, Earnings revised lower •         TP revised to N3.17 (Previous: N4.29) PAT sinks amidst weak top line growth DIAMONDBNK released 9M’16 results showing weaker quarterly […]

Flour Mills of Nigeria Reports Q2’17 Results; Sales Grows by 43% YoY

Culled—Proshare October 31, 2016/FBNQuest Research Event: Flour Mills of Nigeria (FMN) reports Q2 2017 (end-Sep) results Implications: Marked upward revisions to consensus 2017 underlying PBT forecast likely Positives: Sales grew by 43% y/y. FMN reported PBT of N2.9bn vs underlying pretax loss of –N810m in Q2 2016 Negatives: FMN’s reported […]