ufotty2001:
11.92

.

Thx a lot. I will wait small, looks like d thing wan adjust for seat....

DANGSUGAR - First reaction to Q1 2016 results


April 22 (Lagos) - This morning, Dangote Sugar Refinery Plc ( DANGSUGAR ) published its Q1 2016 results which showed double-digit y/y growth for key line items on its P&L. While sales were up 45% y/y, PBT and PAT were both up 35% y/y and 41% y/y to N5.1bn and N3.3bn respectively.



According to management statements, top line growth was supported by both unit volume growth and pricing. Company increased prices by 22% y/y to N7,574 per 50kg bag to reflect higher production costs which were impacted by increased raw sugar import tariff (from 10% to 20%), higher freight expenses and increased LPFO use, which is 1.5x more expensive than gas.



Sugar sales were up 23% y/y from 211,793 metric tonne (MT). The combination of the topline growth and a -10% y/y decline in opex more than offset a -376bp y/y gross margin contraction and led to a PBT growth of 35% y/y. Sequentially, while sales were up 16% q/q, PBT and PAT both grew by 120% q/q and 52% q/q respectively.



Lower q/q growth on the PAT line was due to a tax payment of around N120m in Q4 2015 vs. –N1.8bn in Q1 2016. Compared with our estimates, sales, PBT and PAT were all in line.



On an annualised basis, DSR’s Q1 2016 sales and PBT are both tracking well ahead of consensus estimates of N108.2bn and N17.4bn respectively. On the back of these numbers we expect upward revisions to consensus 2016E estimates.



Production at Savannah Sugar Company, Dangote Sugar's first backward integration project, which was up 71% y/y from 8,441 tonnes vs. 4,930 in 2015 is one of the positives we draw from these set of numbers. Harvesting is expected to continue through Q2 2016.



Looking forward, DANGSUGAR revised backward integration development projects include a green field development of 46,000 hectares (ha) in Zaria KalaKala (Kebbi State), full rehabilitation of 23,000ha at Savannah along with the Guyuk annex of 6,000 ha planned for completion within the next three years. This is expected to raise sugar production from sugar cane to close to 700,000 MT a year.



We believe the improved security situation in northern Nigeria and enhanced distribution were the drivers behind the higher sugar volumes. DANGSUGAR is in a better position compared with most local manufacturers given that the firm still sources all its fx requirements from the CBN.



Year to date, DSR shares have shed -4.3%, outperforming the All Share Index which has shed -13.3%. Analysts at FBN Capital in Ikoyi expect the market to react positively to the results. At current levels, on our published estimates,



DANGSUGAR shares are trading on a 2016E P/E multiple of 5.8x for an EPS growth of around 2% in 2017E.



Analysts at FBN Capital in Ikoyi rate the DANGSUGAR stock Neutral.
reporting for easykobo.com on Friday, April 22 2016 from Lagos, Nigeria




Source - analysts at FBN Capital
http://www.easykobo.com/News.aspx?id=19394
THIS IS NOT A BUY RECOMMENDATION...

teeboy95:
Bagco has returned money for the shares a long time ago.
Also flour mills is not handling that any more. You have to go to Meristem with your query.
i collected my money from them, some months back.

cheers

Thanks

So what's the address of meristem?

Manonamission:


Your signature specimen is a prerequisite to processing e-dividend i.e the registrars must have a specimen of your signature on their system before your e-dividend forms will be processed. In other words, if you like carry all the e-dividend forms of all the registrars inside an envelope to your bank to be stamped, the registrars will not process your e-dividend application for this reason. This is sometimes the reason why people come back here to complain they haven't received any alert (especially if the bank did the upload for them via e-DMMS)

What should you do?
*Complete transfer forms at your broker's for the intended registrars (should be free of charge but allow up to 2 or 3 weeks)
OR
*Obtain a banker's confirmation (BC) of signature addressed to each registrar (costs between N1,000 and N3,000 per registrar but faster)

*Process e-dividend forms once the signature capture is confirmed.

Note: Registrars accept BC and e-dividend form together but will only process the e-div when the BC is confirmed.

This issue was discussed extensively on page 1500. I hope no one will bring this issue up again. We've got to move on to other issues.

thank u sir...

If you are in the Diamond, Skye and FBNH plane, please brace up for impact. Result expected this week.

Manonamission:
If you are in the Diamond, Skye and FBNH plane, please brace up for impact. Result expected this week.

Aye Aye captain...

Just hoping Diamond throws like N0.08k my way ...

I have acknowledged that FBNH is a gamble not an investment

NuttyChoky:


Aye Aye captain...

Just hoping Diamond throws like N0.80k my way ...

I have acknowledged that FBNH is a gamble not an investment

Diamond 80k ,,,pls just hoping they throws you all their currentprice of 1.40k

currentprice:


Diamond 80k ,,,pls just hoping they throws you all their currentprice of 1.40k

Na error oh!

I meant N0.08K

NuttyChoky:


Aye Aye captain...

Just hoping Diamond throws like N0.08k my way ...

I have acknowledged that FBNH is a gamble not an investment

.

NuttyChoky, even if you kidnap their CEO and demand for 0.08K, I doubt they will negotiate with you....

nathoneal:

Thanks
So what's the address of meristem?

307, Herbert Macaulay Street, Yaba, Lagos, Lagos.
Around casino

am expecting skyebank dividend to be 0.10k @ 0.95k current price than diamond bank that is already overvalue to give 0.10k @ 1.45k

serious offloading from skye bank ... sign of bad results

ufotty2001:
am expecting skyebank dividend to be 0.10k @ 0.95k current price than diamond bank that is already overvalue to give 0.10k @ 1.45k

that's a lot of expectation.

ufotty2001:
serious offloading from skye bank ... sign of bad results

Guy, no be you talk say you are expecting 10kobo dividend from skye bank.how then do you see sign of bad result?..............confused: confused::

ufotty2001:
serious offloading from skye bank ... sign of bad results

Guy, no be you talk say you are expecting 10kobo dividend from skye bank.how then do you see sign of bad result?..............confused: confused::

guys please what is really going on with morgan capital.. call them, their phone number not going through.. i have sent mail not replying... what next will i do! i need to start processing for the signature specimen!.. i getting tired of them

Why not do the BC instead

ufotty2001:
guys please what is really going on with morgan capital.. call them, their phone number not going through.. i have sent mail not replying... what next will i do! i need to start processing for the signature specimen!.. i getting tired of them

fatjo:
Why not do the BC instead

please what is BC?

ufotty2001:
please what is BC?

Before Christ

http://nse.com.ng/Financial_NewsDocs/13389_INTERLINKE_TECH_Q3_MARCH_2016_FINANCIAL_STATEMENTS_APRIL_2016.pdf

http://nse.com.ng/Financial_NewsDocs/13392_NASCON_ALLIED_Q1_MARCH_2016_FINANCIAL_STATEMENTS_APRIL_2016.pdf

Banker's Confirmation has become Before Christ! Jesus of Daura and Otueke!

ufotty2001:
guys please what is really going on with morgan capital.. call them, their phone number not going through.. i have sent mail not replying... what next will i do! i need to start processing for the signature specimen!.. i getting tired of them

Sir,you may open a Current Account with any reputable deposit money bank in order to cash your dividend cheques or start using Meristem Stockbrokers(they are very efficient in processing Transfer Form) to buy shares you intend to collect dividends/bonus;Meristem is an excellent stockbroking firm for current or prospective dividend investors .

ufotty2001:
am expecting skyebank dividend to be 0.10k @ 0.95k current price than diamond bank that is already overvalue to give 0.10k @ 1.45k

Just bear in mind that Skye has been frustrated trying to raise money for long, therefore dividend, though possible, is by no means sure.

I wanna learn about this stock exchange thing.
Watching wolf of wall street kind of motivated me tho

http://www.insureyourautos.com.ng/2016/08/top-misconceptions-people-have-about.html

locodemy:


Before Christ

locodemy:


Before Christ

http://www.businessinsider.com/offshore-drilling-company-got-90-discount-on-rig-2016-4

If you want a perfect encapsulation of just how bad it is for the energy industry, we've got a story for you.

Ocean Rig, an offshore oil-drilling company, just got an incredible "going out of business" deal on a deep-ocean drillship.

According to maritime-industry blog gCaptain, Ocean Rig got a sixth-generation drillship that was worth up to an estimated $700 million in 2011 for just $65 million.

So Ocean Rig just got a 90.7% discount on a massive piece of equipment.

As gCaptain noted, Ocean Rig bought four of a similar type of rig from builder Samsung Heavy Industries in 2008 for $800 million each. The price for a barrel of crude at the time was as high as $140 — crude is now just above $40.

This isn't necessarily surprising. In an age when energy companies are becoming increasingly cost-conscious, offshore drilling is one of the most expensive types of drilling.

The seller of the rig, Brazilian firm Schahin Group, also tells a part of the energy industry story. The company is one of an ever increasing group of oil firms to go into bankruptcy and have to liquidate assets to survive.

So pretty much the read here is that the sale is a great deal for Ocean Rig, and another terrible sign for the industry.


OANDO/COP deal comes to mind. "Well Like i have been saying since last year, The Era of oil is dead and buried those that has ears let them hear"

*ThE OcToPuS*