GT, Zenith, Stanbic IBTC, Others Raise Investors Hopes, on Improved Earnings

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As expected, the week ended 20th of April, 2018 ushered in a handful of first quarter reports from quoted companies on the floor of the Nigerian stocks exchange, coupled with a few of the outstanding full-year audited reports. One noteworthy thing is such that the reports came in alluring, raising fresh optimism of a strong market upbeat as improved earnings were recorded across board.
Though it’s a management account not subjected to external scrutiny yet it to a large extent a glimpse of what to expect at the year round off.

GT BANK
Guaranty Trust Bank in a report released to the market on Wednesday last week said that its gross income for the first quarter ended march 31, 2018 was down marginal 4% to about N108.97billion when compared with the previous N104.13billion reported income of same period 2017.
However, an adequate check on the organization’s impairment loss which brought provision for impairment charges lower at about N1.6 billion as against N3.4biliion of 2017, moderated the topline loss and consequently brought about a marginal 7 percent improvement on its post-tax profit from N41,4 billion to N44.6 billion in the corresponding period.
Earnings per share in same proportion climbed from N1.47kobo to N1.58 also in the corresponding period.
Its PE Ratio at the current price of N44.85 stands at 20.39x while its earnings yield is 3.52%.

ZENITH BANK
As observed, Zenith and Guaranty Trust bank have about the same behavioral pattern in terms of their capital market operations. Zenith in the same week as its counterpart came out with its first quarter 2018 scorecard showing a 14.5% improvement on its previous N147.7billion gross income of 2017, to arrive at N169.2billion this year under review.
It reported profit after tax also grew 25.5% from N37.4billion to about N47billion in the review period of
2018.
The earnings per share also grew from N1.19k to N1.50k which represents another 25.5% year on year growth.
Thus, the company has a PE Ratio of 18x with a 5.5% earnings yield at the current price of N27.

Stanbic IBTC

Stanbic Ibtc reported turnover for period ended 31 March 2018 climbed 22% from about N47billion of 2017 to N57.4billion.
Its post-tax profit was also up a fantastic 43% from N16billion to N23billion in the corresponding period.
Consequently, the group has a fantastic N2.30 earnings per share which 43.5 up against the previous N1.60 of 2017.
The company’s PE Ratio stood at 21.3x at a price of N49 with 4.68% earnings yield.

UCAP
United capital Plc last Wednesday April 18, 2018, published its 2018 q1 unaudited financial reports for the period ended March 31, 2018.
The financial report showed a 4.26 percent marginal rise in topline figure of N2.1 billion recorded in the same period last year, to about N2.2 billion recorded in first quarter 2018.
Its profit after tax also grew 7 percent from previous N1.1 billion to N1.2 billion of the current period under review.
The earnings per share also rose by 5% from 20kobo to 21kobo in the corresponding year.
The current period’s PE Ratio is at 15.48x and the earnings yield at 6.46%.

AFRIPRUD
African Prudential Plc, a foremost quoted company on the floor of the Nigeria stock exchange also announced its first quarter ended 31st march 2018 results with a significant growth of about 49 percent, from N641.5 million to N957.8 million in the corresponding review period.
The profit after tax recorded this year was also higher at 22 percent when comparing the N377.6 of last year same period with the current N460.8 million.
The earnings per share consequently rose from 19kobo to 23 kobo, signifying a year on year growth of 21 percent.
PE Ratio for the company stood at 18.26 as at when computed, with earnings yield of 5.48%

Transcorp Hotels PLC
The prestigious hotelier posted N3.8billion gross earnings for its recently reported first quarter 2018 scorecard. The figure was a 27.7 percent improvement on the previous N2.9billion of 2017.
Its profit after tax also grew from N388.4 million to N593.6 million in the corresponding period.
Earnings per share grew 60 percent from 5kobo to 8kobo, also in the corresponding period.
Its PE Ratio for the period stood at 93x with an earnings yield of 1.07%.

UNILEVER
Unilever Nigeria reported its Q1 2018 results which showed that sales grew by 16 percent year on year to N25.8billion from previous reported figure of N22.1billion.
Profit after tax for the period under review grew faster at 80 percent from N1.6 billion to about N2.8 billion in the corresponding year.
Earnings per share as at the end the quarter under review stood at 50kobo, also 80 percent growth away from the previous 28 kobo.

STERLING BANK
The one customer bank reported an improved turnover in its result for the year ended 31st December 2017. It said its turnover grew 11.32 percent from N99 billion to N110billion in the corresponding period.
Its profit after tax grew 65 percent from N5billion to N8 billion in the corresponding period, leaving its earnings per share to about 30kobo from the previous 18 kobo.
The company has 5.47 as its PR Ratio, with an earnings yield of 18.27%

Other results released within last week are: The Initiate Plc audited reports, AFROMEDIA, IEI and SMART PRODUCTS.

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