Mpeace, seems you hastily sold your skye o. It's still not giving up yet.
At least I don learn meaning of new word again from my boss today.

Mcy56:
Mpeace, seems you hastily sold your skye o. It's still not given up yet.
At least I don learn new word again from my boss today.

You want to start another fire ni? Allow First Aluminium fire to quench first. Kilode!

LOL.

UnionDac
- sellers already parked together

#justWatching

mendes911:
You want to start another fire ni? Allow First Aluminium fire to quench first. Kilode!
LOL.

Chai! No vex sir. Me and this my 'stocks' self.
LMAO

Index
- needs DangCem to test its 52 wk low at n200 and makes up its mind where next ! !

MonkeyHunter:


Comments made on First Aluminium

"Dead body must shake body and get lifted before e finally rest for ground level 20K"

"Can't remember the last time that company declared profit or pay dividend. They are an Aluminium company that is completely left behind!"

"She may just be waking up from sleep. That's the only thing that came to my mind when I saw her post. But still, people make money from dead companies, she might succeed."

"Na only maggot dead body go brew. That company is returning back to DUST."

The above comments are not justified and can't have been made by someone that looked at the financials.

1)The company is not dead.
2)It is not loss making.
3)It is not over priced.
4)20k (Market Cap of N420m) will be a gift to whoever buys it given the profitability (N210m) and shareholder's funds (over 5bn).

Am I advising people to buy? No.
Is the group result of more relevance to shareholders than company results? In my opinion, Yes
Has group profitability iimproved ver the the past four years? Yes from N29m to N209m
Are the profitability margins poor? Yes and that has been reflected in the price. The company is however making sales of over N9bn annually and if the margins improve the profitability shoots up.
Is this an attractive take over candidate? Yes

wanaj0:


A 'good' company BUT

1) Not paid dividend in years
2) Profitability dropped in its 'core business' (Company result)
3) Negative retained earnings will take 8 years to turn positive at current 'run rate'.
4) POOR margins

Candidate for take over? YES.

I can only recommend such companies for an Undertaker like Jimoh Ibrahim. Jimoh Ibrahim love such companies because they are good for asset stripping. He will help hasten their death.

wanaj0:


The more reason why I asked what is the attraction? Would like to understand the screening criteria that will make First Aluminium even appear on the list considering the opportunities on the NSE.

Anyway, discouragement is illegal. We all must become Barnabas (son of encouragement)

I think the matter should be put to bed now.
BOTH U and Sir MH were RIGHT !!
U AGREE that the company's Nos has gradually improved from where some folks had assumed them to be.
...and he (MH) AGREES that there's still some measure of RISK, hence the need to be CAUTIOUS.
I AGREE with both of u. Which was why I said I still have my reservation about the coy (given inherent risk), but will be open to keying in in future (given gradual improvement).
What Sir MH has simply done was to draw people's attention to the pros in the company, while u Sir Wanajo has highlighted the cons.
..It is now left for people to 'seive and weigh things properly' before deciding on where they wish to align with.

No point trying to prove who may have had or made a better judgement.
...we are here to all learn from each other, with a view to making better informed investment decisions.

Cheers.

Mcy56:
Mpeace, seems you hastily sold your skye o. It's still not giving up yet.
At least I don learn meaning of new word again from my boss today.

I never buy skye in the last 8years.Although I like buying carcass, skye does not fit into those classes.
Skye is on a class of its own. Skye is real junk. No result, no rating, no prospects. Sometimes I wonder what pple are buying when they buy skye shares.
They need a result to really have any valuation.
Atleast let them show us they have Auditors first.

Mpeace:
I never buy skye in the last 8years.Although I like buying carcass, skye does not fit into those classes.
Skye is on a class of its own. Skye is real junk. No result, no rating, no prospects. Sometimes I wonder what pple are buying when they buy skye shares. They need a result to really have any valuation. Atleast let them show us they have Auditors first.

So you were making jest of us in skye before ni? You were the one that called it a carcass, someone else might not see it as that.
Issorite! I'm done here today. See you in class tomorrow, God willing.

Abeg oh our TA guys @fxuser & co. I hope all these volume this week on Zenith is more of accumulation and not distribution.

Just asking for a friend!

Mcy56:

So you were making jest of us in skye before ni? You were the one that called it a carcass, someone else might not see it as that.
Issorite! I'm done here today. See you in class tomorrow.

Just don't let their result come out with u inside. Like someone once said here, ''enter the company see wetin them dey do before u buy''

Let me do small MH for the benefits of those that boarded UACN. Already done 11% from that low of N10.

These yeye stocks are good at throwing careless returns. Good luck to those in.



Cc: CurrentPrice.

#If only fear had let me....

Mpeace:
Just don't let their result come out with u inside. Like someone once said here, ''enter the company see wetin them dey do before u buy''

*peeps inside the class before leaving*

Issorite! Skye was sold for 50k few days ago, today it closed at N74k, somebody somewhere made some cash already and waiting for another round. Enjoy the rest of today and don't forget to write and read today's note, will sit beside you on exam day.

stcool:
Abeg oh our TA guys @fxuser & co. I hope all these volume this week on Zenith is more of accumulation and not distribution.

Just asking for a friend!

umm . .

Mcy56:

*peeps inside the class before leaving*

Issorite! Skye was sold for 50k few days ago, today it closed at N74k, somebody somewhere made some cash already and waiting for another round. Enjoy the rest of today and don't forget to write and read today's note, will sit beside you on exam day.

Me wey never pay school fees.

fxuser:


umm . .

Oga, umm... is not TA oh!

Is Pa Ewumi still in this forum? Been a while he posted anything

stcool:


Oga, umm... is not TA oh!

im waiting for others to help us first . .

mendes911:


Let me do small MH for the benefits of those that boarded UACN. Already done 11% from that low of N10.

These yeye stocks are good at throwing careless returns. Good luck to those in.



Cc: CurrentPrice.

#If only fear had let me....

... good to overlook noise here sometimes and follow your heart

.

*Daily Market Summary September 20, 2018.*


The Nigerian Stock Exchange closed on a positive note as the All Share Index closed at 32,480.89 basis points, down 0.33%.

Year to date, the index is down 15.07%


*Top Gainers and Losers.*


*Gainers*

Wapco Plc was the best performing stock in today’s trading session. The stock closed at N22.75, up 9.90%.

First Aluminium closed at N0.34, up 9.68%.

UAC of Nigeria Plc rounds up the top three gainers, closing at N11.10, up 8.82%.

*Losers*

Prestige Assurance was the worst performing stock in today’s session. The stock closed at N0.56, down 9.68%.

Unity Bank closed at N0.88, down 9.28%.

Honeywell Flour Mills closed at N1.36, down 6.21%.

*Top trades by volume*

NEM Insurance Plc was the most traded stock by volume as 39.1 million shares valued at N121 million were traded in 16 deals.

36 million First Aluminum shares valued at N11 million were traded in 28 deals.

20.7 million Zenith Bank shares valued at N428 million were traded in 203 deals.


Visit Nairametrics.com for more news.

JoyNgofaa1:
The chance to become the next Miss Vogue Nigeria is here. Forms are now available.

Click on the link to find out more.


https:///2NMCc3M

Not here take to Romance section

Zenith Bank's Earnings Will Remain Broadly Stable, Upgrade Remote—S&P
https://www.businesspost.ng/2018/09/20/zenith-banks-earnings-will-remain-broadly-stable-upgrade-remote-sp/

S&P Sees “Very High Levels of Corruption” in Nigeria, Affirms Ratings
https://www.businesspost.ng/2018/09/20/sp-sees-very-high-levels-of-corruption-in-nigeria-affirms-ratings/

Hello house, it is my birthday today.

dipoolowoo:
Zenith Bank's Earnings Will Remain Broadly Stable, Upgrade Remote—S&P
https://www.businesspost.ng/2018/09/20/zenith-banks-earnings-will-remain-broadly-stable-upgrade-remote-sp/

S&P Sees “Very High Levels of Corruption” in Nigeria, Affirms Ratings
https://www.businesspost.ng/2018/09/20/sp-sees-very-high-levels-of-corruption-in-nigeria-affirms-ratings/

Hello house, it is my birthday today.

Happy birthday

#LLNP

dipoolowoo:
Zenith Bank's Earnings Will Remain Broadly Stable, Upgrade Remote—S&P
https://www.businesspost.ng/2018/09/20/zenith-banks-earnings-will-remain-broadly-stable-upgrade-remote-sp/

S&P Sees “Very High Levels of Corruption” in Nigeria, Affirms Ratings
https://www.businesspost.ng/2018/09/20/sp-sees-very-high-levels-of-corruption-in-nigeria-affirms-ratings/

Hello house, it is my birthday today.

Happy birthday sir..

dipoolowoo:
Zenith Bank's Earnings Will Remain Broadly Stable, Upgrade Remote—S&P
https://www.businesspost.ng/2018/09/20/zenith-banks-earnings-will-remain-broadly-stable-upgrade-remote-sp/

S&P Sees “Very High Levels of Corruption” in Nigeria, Affirms Ratings
https://www.businesspost.ng/2018/09/20/sp-sees-very-high-levels-of-corruption-in-nigeria-affirms-ratings/

Hello house, it is my birthday today.

Happy birthday...WULLNP

Happy bday to you.


Now on top d matter


To all those magas pushing first alum and Skye bank here today ...god will punish u.


Maybe u go con some young ppl here who don’t know your scam yet but v c u clear.


Bone ur useless metrics or the poo that you are serving here saying it’s calculatons while all the by doing is trying to sell a shithouse


Finally to whose who are considering buying based on these recommendations by self professed oracles and experts.....”at the end na shell holder u go b” that pop will smell from adekunle to banana

dipoolowoo:
Zenith Bank's Earnings Will Remain Broadly Stable, Upgrade Remote—S&P
https://www.businesspost.ng/2018/09/20/zenith-banks-earnings-will-remain-broadly-stable-upgrade-remote-sp/

S&P Sees “Very High Levels of Corruption” in Nigeria, Affirms Ratings
https://www.businesspost.ng/2018/09/20/sp-sees-very-high-levels-of-corruption-in-nigeria-affirms-ratings/

Hello house, it is my birthday today.

Awww Happy Birthday Mr Dipoolowo.
Thanks for always keeping us updated with market info

Happy B.day @dipoolowoo, wishing u many more years!

.

deepsuk:
Happy bday to you.


Now on top d matter


To all those magas pushing first alum and Skye bank here today ...god will punish u.


Maybe u go con some young ppl here who don’t know your scam yet but v c u clear.


Bone ur useless metrics or the poo that you are serving here saying it’s calculatons while all the by doing is trying to sell a shithouse


Finally to whose who are considering buying based on these recommendations by self professed oracles and experts.....”at the end na shell holder u go b” that pop will smell from adekunle to banana

Dear Deepsuk,

While repeatedly calling on God to punish people, please note the following as written in the scriptures

1)Thou shall not call the name of thy Lord in vain.
2)The foundation of the lord stands sure bearing this seal God knows those that are his so let everyone that calls the name of the Lord depart from iniquity
3)You can't serve both God and Mammon.
4) Shall we continue in sin and pray that grace should abound, God forbid.

You might want to retrace from the current path on which you are on or else it might be satan that will end up punishing you


Now at no point did I request that anybody should buy the stock. I only requested that the financials should be consulted before making a decision. I however might have erred in calling out other peoples recommendations as having been made without consulting the financials.

I have further consulted the financials and noted the following.

The main issue with First Aluminium is surprisingly not the negative retained but the capital structure. First Aluminium largely uses expensive debt in its operations and had debt of about N2.5 to N3bn as at year end 2017 at an effective rate of 24%. It paid interest of about N750m and tax of N350m during the year to give a profit of N209m. It's EBIT (Earnings before Interest and Tax) was therefore N1.3bn. If it had additional equity of N3bn it would have declared profit of almost N1bn as it would have avoided the interest payment. It therefore needs a capital raise through a rights or public issue to help ensure it works for the shareholders instead of the banks. Mgt tend to be interested in the share price of their companies when they need to raise capital and if possible help to give the share price a boost to what they think is a fair valuation for the company

It is also interesting to note that it obtained a 2.5b BOI this year as shown in the 2nd quarter 2018 results which should help reduce the interest expense as these loans are typically at single digits as opposed to the current cost of funds which is at 24%.

The business is a stable franchise with N10b in turnover annually which is approximately 800m monthly or 40m in sales every working day at 20 working days in a month.

I once again apologies to Wanajo and others for calling their recommendation out as I believe people should be free to give their recommendations on this forum wthout any fear of backlash.

@MonkeyHunter, you dont have to disturb yourself much about that woman's ranting. You should know 'her' better than that by now.
Your posts were not directed at them neither did you say that anyone should buy the stock. You did not mention Skye at all either.
Maybe I shouldn't have mentioned it here in the first place self.
Please, you did what was right as far as I'm concerned.
I love the fact that the Pros and Cons (as rightly put by onegentleguy) of the Company's current financial status were discussed by both you and Sir Wanaj0 and, it was really an eye opener that could be related to other stock in that category as well.
Thanks for taking time out to carry out more research into the company and more importantly, shared with some of us here. Nagode.