the numbers did not turn in bad. It is flat but was good. At the current price, it should be good to acquire more at the prices between 16 and 20.

Mcy56:
Why has nobody mention what's in GTB's Q1?
Make I go check anyway.

http://www.nse.com.ng/Financial_NewsDocs/29719_WEMA_BANK_PLC._FINANCIAL_STATEMENTS_APRIL_2020.pdf
4k dividend

Did they include donations for COVID-19 pandemic?

Mcy56:
Why has nobody mention what's in GTB's Q1?
Make I go check anyway.

As copied from my broker:


FBNH: Earnings impress but regulatory concerns linger
FBN Holdings Plc reported a 60.0% YoY growth in EPS to N0.64 in its unaudited Q1’20 result. Earnings support largely stemmed from elevated trading gains. We also note improvement in cost to income ratio (65.1% vs Q1’19: 67.7%), cost of risk (1.9% vs Q1’19: 2.7%) and NPL ratio (9.2% vs Dec. 19: 9.9%). Key regulatory ratios such as CAR (15.3%) and liquidity ratios (30.1%) remain, however, concerning

Highlights:
Net interest margins (NIM) weakened by 1.4ppts to 6.3%. A 20 bps moderation in funding cost was not enough to ease NIM pressure. Overall, net interest income slipped by 15.9% YoY

Non-interest income soared 88.9% YoY. Key drivers of non-interest income growth are N21.8 billion in trading gains (vs N1.3 billion in Q1’19) and a two-fold increase in dividend income to N4 billion. Also supporting non-interest income was the 6.8% YoY growth in net fees and commission income, largely driven by increases in LC-related fees (+18.0% YoY) and E-Banking fees (+9.7% YoY).

Operating expenses climbed 7.9% YoY. However, we note the improvement in efficiency as cost-to-income ratio moderated 2.6 ppts to 65.1% during the quarter. Cost of risk also slid lower to 1.9% from 2.7% in Q1’19, reflecting the 30.0% YoY fall in provision for loan losses.

Gross loans to customers rose 10.2% to N2.1 trillion. Asset quality, however, improved from 9.9% in December 2019 to 9.2% in March 2020.

All in, ROE improved to 15.3% versus 11.8% in Q1’19. On regulatory compliance, concerns abound as both CAR and liquidity ratio slipped towards border-line limits at 15.3% and 30.1% respectively.

rebekah2011:
http://www.nse.com.ng/Financial_NewsDocs/29716_NIGERIAN_BREWERIES_PLC._FINANCIAL_STATEMENTS_APRIL_2020.pdf

EPS 69K

A Very poor result . Nigerians can drink better....

Nem PLC inching up
As qualification date gets closer

Wema Bank to Pay 30% of FY19 Profit as Dividend
https://businesspost.ng/economy/wema-bank-to-pay-30-of-fy19-profit-as-dividend/

Nigerian Breweries Net Profit Drops 31.3% in Q1’20
https://businesspost.ng/economy/nigerian-breweries-net-profit-drops-31-3-in-q120/

Who are the markers of indomie, I want to believe they will be raking in a lot of profits this period as lots of people will be relying on it for their stable food.

aremso:



Do u invest in Alcohol making companies ?

No sir !! I don't drink, so I shouldn't promote or part take in the dividend of their growth in any way

ojesymsym:
Who are the markers of indomie, I want to believe they will be raking in a lot of profits this period as lots of people will be relying on it for their stable food.

Dufil Prima Foods.

ojesymsym:
Who are the markers of indomie, I want to believe they will be raking in a lot of profits this period as lots of people will be relying on it for their stable food.

Dufil prima subsidiary of tolaram group... they’re not listed on NSE but I think they’re listed on NASd otc but liquidity is very low there.

ojesymsym:
Who are the markers of indomie, I want to believe they will be raking in a lot of profits this period as lots of people will be relying on it for their stable food.

And also destroying their health.

The maker is DUFIL, you can buy the shares on NASD

DeRuggedProf:


A Very poor result . Nigerians can drink better....

We really do not understand what's going on in the breweries. Nigerians are still drinking. When people are depressed or celebrating they drink more. Bars, clubs, hotels and lounges everywhere. Still all of them post poor results.

May be Ogas here have a clue to the happenings in that industry.

gabscity:


We really do not understand what's going on in the breweries. Nigerians are still drinking. When people are depressed or celebrating they drink more. Bars, clubs, hotels and lounges everywhere. Still all of them post poor results.

May be Ogas here have a clue to the happenings in that industry.

Apparently competition is not unconnected with these developments.

Broker's Analysis - For Info purpose, not any sort of advice :

UNILEVER NIGERIA PLC Q1 2020
THE TOUGH GET GOING FOR A U-CURVE RECOVERY

Unilever Nigeria Plc published its Q1 2020 earnings report for the period ended 31st, March 2020, indicating a revenue of N13.329 billion vs N19.236 billion in the corresponding period of 2019. We noted sales slowdown by 40.72% across the Home and Personal Care segment, while export surged by 71.65% despite the persistent boarder closure by the Federal Government of Nigeria.
Furthermore, cost of sales (COS) dipped significantly to print N9.90 billion against N15.37 billion recorded in Q1 2019. As a result, gross profit settled weaker marginally at N3.426 billion vs N3.869 billion recorded in the corresponding period of 2019. Thereby, gross margins closed the period at 25.7%, 27.72% stronger when juxtaposed with 20.11% recorded Q1 2019. Moving on, operating profit further plunged by 65.63% as Unilever aggressively embarked on market visibility, increasing branding and marketing expense by 108.96%, likewise overhead cost soaring by 100.04%.
Considering the low interest environment, finance income settled lower by 38.31% while finance cost plummeted by 99.35%, consequently recording a profit before tax of N948 million, representing 53.23% decline from N2.027 billion recorded in Q1 2019. Tax credit of N165.96 million cushioned profit for the period to N1.114 billion, representing 26.71% decline when compared to N1.520 billion profit recorded in Q1 2019.
The report indicates the continued struggle for Unilever to increase sales in light of increased competition compounded by a tougher operating environment. Our 12m target price for shares of Unilever using a blended model is N22.95, therefore, we recommend a BUY at current price levels.

FBNH Q1 2020
Earnings Propped by Growth in Non Interest Income

First Bank Nigeria Holding (FBNH) recently released its unaudited financial results for Q1, ended 31st, March 2020 to the Nigerian Stock Exchange, which indicated a strong performance in earnings amidst the lower yielding interest environment. The bank recorded a gross earnings of NGN 159.68 Billion in Q1, 2020 from NGN 139.43 Billion in Q1, 2019, representing an increase of 14.52% q/q in earnings for the period. The increase in topline revenue year-on year (y/y) was supported by the advancement in non-interest income by 88.93%.

Net interest income was down by 15.92% to NGN 60.25 billion, mainly resulting from a 4.22% reduction in interest income, which was due to the declining interest environment. Interest Income dropped by 4.22% to NGN 104.90 billion from NGN 109.53 billion in the corresponding quarter of 2019. The decline in interest income was as a result of 76.71% and 11.00% drop in interest income received from banks and investment securities to NGN 2.49 billion and NGN38.48 billion respectively in Q1 2020. Although, the bank’s loan book expanded by 12.69% to NGN 2.93 trillion. Also, interest expense advanced by 17.91% from NGN 37.86 billion in Q1 2019 to NGN 44.65 billion in the period under review, majorly driven by growth in interest paid to banks on deposit from NGN 7.19 billion in Q1 2019 to NGN 17.90 billion, representing an enhancement of 149.35% in the period of 2020. However, interest paid to customers on deposit dropped by 2.69% from NGN 27.38 billion to NGN 26.64 billion in Q1 2020.

In the period under review, Non interest revenue advanced by 88.93% from NGN 26.32 billion in Q1 2019 to NGN 49.73 billion in Q1 2020. The rise in non interest revenue was propped up by the growth in fees and commissions (6.82%), Net gains on investment securities (747.52%), financial instrument (2816.94%) and dividend income (102.93%). Furthermore, operating expenses spiked by 7.88% to NGN 71.60 billion from NGN 66.37 billion in Q1 2019 driven by increase in personnel expense (4.43%), depreciation cost (24.83%) and other operating expense (7.91%). Profit before tax (PBT) stood at NGN 28.68 billion indicating an increase of 61.45% from NGN 17.76 billion recorded in Q1 2019, supported by the drop in impairment charges and increased operating margin. Profit after tax (PAT) in Q1 2020 stood higher by 59.33% to NGN 23.14 billion from NGN 14.52 billion at the end of the corresponding period of 2019.

Net Loans and advances expanded by 12.69% to NGN 2.93 trillion from N2.60 trillion in FY 2019. Loan to Deposit ratio stood at 53.56% when compared with FY 2019 which settled at 53.27%. Total deposits also expanded by 12.09% from NGN 4.88 trillion in FY 2019 to NGN 5.47 trillion at the end of Q1 2020. Our blended target price is N13.06. We recommend a BUY at current market price, as the stock trade’s at a discount to our intrinsic value.

gtb!let's go!

Naa football field

naturalflow:
gtb!let's go!

*Now trending on Nairametrics.com*




Vultures in flight: Should Nigeria consider suspension of sovereign debt payments like Argentina?
https://nairametrics.com/2020/04/23/vultures-in-flight-should-nigeria-consider-suspension-of-sovereign-debt-payments-like-argentina/



COVID-19 LOCKDOWN: BUA Group supports Noella Foundation, FoodClique on emergency food supply
https://nairametrics.com/2020/04/23/covid-19-lockdown-bua-group-supports-noella-foundation-foodclique-on-emergency-food-supply/



5 practical things small businesses can do during this pandemic lockdown
https://nairametrics.com/2020/04/23/5-practical-things-small-businesses-can-do-during-this-pandemic-lockdown/



NIGERIA OIL: Darker days ahead as Brent falls below production cost
https://nairametrics.com/2020/04/23/nigeria-oil-darker-days-ahead-as-brent-falls-below-production-cost/



NCDC confirms 91 new cases of COVID-19
https://nairametrics.com/2020/04/23/ncdc-confirms-91-new-cases-of-covid-19/



Naira crashes further at the parallel market due to dollar scarcity, lowest since 2017
https://nairametrics.com/2020/04/22/naira-crashes-further-at-the-parallel-market-due-to-dollar-scarcity-lowest-since-2017/



WAPCO, Zenith charge bulls at the Nigerian stock market, investors gain N73.37 billion
https://nairametrics.com/2020/04/22/wapco-zenith-charge-bulls-at-the-nigerian-stock-market-investors-gain-73-37-billion/




*Brought to you by Wealth.ng*

sellydion:
Naa football field

lol

Morning everyone,

Except for the Day traders on this board i want to advice value investors to avoid checking the markets every minute and seconds to avoid High blood pressure. Things are irrational these days and constant shocks to the financial markets will continue for a while.

Checking once a day to confirm your trade is probably fine but these per seconds Heeeee and Haaaaa as the market swing daily is unhealthy in my opinion.

Like Emmanuelewumi would advise if you know what you bought and why you bought it,You can sleep easy.

sellydion:
Naa football field

Tvegas:
Morning everyone,

Except for the Day traders on this board i want to advice value investors to avoid checking the markets every minute and seconds to avoid High blood pressure. Things are irrational these days and constant shocks to the financial markets will continue for a while.

Checking once a day to confirm your trade is probably fine but these per seconds Heeeee and Haaaaa as the market swing daily is unhealthy in my opinion.

Like Emmanuelewumi would advise if you know what you bought and why you bought it,You can sleep easy.

Good advice. Value can easily be wiped out though. These are times one can't predict. Prices can stay and even lower for couple of years. How long can you wait?

PharmAlfred:


Good advice. Value can easily be wiped out though. These are times one can't predict. Prices can stay and even lower for couple of years. How long can you wait?

Not everyone is a seller, once the business growing and consistently churning out profits.

If you own a business, will you allow the weekly fluctuations in the valuation of your business to determine if you will continue running the business, even though the business provides for your needs and creates a positive cash flow.

https://www.marketwatch.com/story/china-stockpiles-crude-as-prices-collapse-2020-04-22

BEIJING — China, the world’s biggest energy consumer, is taking advantage of a plunge in global oil prices due to the coronavirus outbreak to build up its stockpiles of crude.

Imports rose 4.5% in March over a year earlier even as the world’s second-largest economy shut down to fight the virus and demand collapsed. For the first quarter of the year imports were up 5%.

The price collapse is battering state-owned oil producers but is a boon to Chinese drivers, chemical producers and factories. It gives Beijing a chance to add to a strategic petroleum reserve that is meant to insulate the country against possible supply disruptions

Tvegas:
Morning everyone,

Except for the Day traders on this board i want to advice value investors to avoid checking the markets every minute and seconds to avoid High blood pressure. Things are irrational these days and constant shocks to the financial markets will continue for a while.

Checking once a day to confirm your trade is probably fine but these per seconds Heeeee and Haaaaa as the market swing daily is unhealthy in my opinion.

Like Emmanuelewumi would advise if you know what you bought and why you bought it,You can sleep easy.

Just curious, do we have any full time /day trader here? No 9-5 job, just stocks and other investments?

PharmAlfred:


Good advice. Value can easily be wiped out though. These are times one can't predict. Prices can stay and even lower for couple of years. How long can you wait?

My brother in 2009 my friend bought heavy units of UBA at N60 with the hope of selling at N80 same stock selling for N5 now. My friend is still alive today, he has picked his lessons and moved on.

Lesson1: Dont joke with fundamentals
Lesson 2: Never ever buy a good company that is overpriced .
Lesson 3: Keep your cash if you cant find value in the market,You must not always buy.

Irrespective of how scary things may look or get at the moment, there is nothing new in this market. Its a cycle,it will have winners and losers. Just make enough preparation to be on the winning side. I have been in meetings where current happenings as regards Oil crash have been discussed 18 months ago. Some have started preparations long ago.

Future results will also show investors that some companies have done scenario analysis and have prepared for this phase.

Nigeria will survive the current events, if there is anything special about this country Its that resilient spirit. The only problem is that even when we survive, we may still never learn our lessons to reduce oil dependency, restructure and curb corruption.

1kinggy:


Just curious, do we have any full time /day trader here? No 9-5 job, just stocks and other investments?

That is a dangerous thing to do. Except if the person trades with a given amount of fund, when he makes more than the given amount the excess funds will be diversified into risk free assets that gives steady income eg real estate, money market, bonds etc

OakPearl:


I have invested based on my due diligence and therefore made my call. The same recovery plan the management shared when it was sub N5 is what I have seen being implemented until till date.
I have no reason to believe what I am yet to see in the financials of the company.

Some comments about UACN are based on short term time frame (and should UACN dip to N3, most who talked down on it will quietly buy, chop, and clean mouth).
I am buying assets not 10, 10%.
My decision is purely based on a long term horizon (for instance, how many % dividend yield is owning UPDC-REIT for free who paid a total 58kobo final & interim dividend?)
Everyone is free to believe and decide what they are happy with. No be by force say everybody must buy UACN. Spend your money as you like.

I now perfectly understand your perspective. Thanks for taking the time to respond. I appreciate.