In the week ended 23rd of march 2018, the market was consecutively down to a sixth straight losing sessions, with just an interval of a positive session, despite the inflows of improved reported earnings by many quoted companies. Just like we observed last week, portfolio reshuffling and repositioning is still at large in play as investors keep their calm for a more decent entry level of their favorite stocks.
Continental Reinsurance
Continental Reinsurance Plc released its full year results for the year ended 31st December 2017 on the 19th of March 2018. Its Consolidated Gross Premium for the Group grew by 32% from N22.4billion in 2016 to N29.6 billion IN 2017.
The major growth driver is the strong aggregated growth from its operations in Africa.
The company however reported a 20.81 percent decline in profit after tax for the full year ended December 31, 2017. According to the company’s financials made available to the Nigerian Stock Exchange (NSE), the profit after tax stood at N2.470 billion during the period under review as against N3.119 billion reported in 2016, representing a decrease of 20.81 per cent.
Its earning per share consequently dropped by same margin resting at 24kobo as against the previous 30kobo.
Currently, the insurance player has a multiple of 7.18 as its PE Ratio, while its earnings yield stands at 13.93%.
Cadbury
Cadbury Nigeria Plc, posted N33billion as turnover for the year ended 31st December 2018, which is a 10.34% year on year growth from the previous year’s turnover of N29.9billion.
The beverage company also reported a net profit of about N300m or $826,000 which is in contrast to loss of about N296million posted In the same period in 2016.
The positive performance was driven by a 10% growth in sales to N33bn ($90 million) from N29.9bn. The firm also benefited from cost savings initiatives, which saw selling & distribution costs as well as administrative costs decline by 7% and 23% respectively.
Cadbury has struggled over the last few years with a myriad of challenges including rising costs, driven by the devaluation of the naira in 2016 and the ensuing environmental inflation which drove up the cost of goods sold as well as operational costs. High net finance cost also added to the company’s challenges as it grew 312% to ₦361m ($994,000) in 2017.
The company’s shareholders earns 16kobo per unit of shares , contrary to the 16kobo loss realized the previous same period.
The PE ratio stands at 91.09x wit an earnings yield of 1.1%
Julius Berger
The Construction giant, Julius Berger Nigeria Plc reported a profit after tax of N2.57 billion for the period ended December 31, 2017 compared to a loss of N2.39 billion recorded a year earlier.
The company recorded a pretax profit of N3.73 billion compared to a loss of N1.49 billion posted in 2016 end.
Revenue of the construction giant inched up 2.08 percent to N141.89 billion from N138.99 billion declared in 2016 end.
The company has recommended paying a dividend of N1.00 per share to investors compared to zero dividend declared in 2016 end. The closure date is between June 4 and June 8, 2018, while annual general meeting (AGM) and payment dates has been scheduled for June 21 and June 22, 2018 respectively.
The company’s Earnings per share also stands at N1.95 as against the loss of N1.82 of last period.
PE Ratios is 13.29x with an earnings yield of 7.52%
Dangote Cement
Dangote Cement’s (DangCem) Q4 2017 results as published on the NSE website showed that PBT grew by a stellar 116% yea on year to N69.4billion, buoyed by a 17% year on year expansion in sales.
Its after-tax profit of about N204billionn was a 42.9% divergence from the profit after tax of N142.8billion that the company reported for q4 2016.
The shareholders’ earnings per share also moved 42% from N8.38 to N11.99.
The PE Ratio stands at 21.2x with 4.70% earnings yield.
The company has recommended the payment of N10.50 to its shareholders. The register will be closed from April 16 to 20, 2018, while qualification date is 13th of April 208.
Annual general meeting to be held on June 20, 2018, at Civic center Victoria Island.
Ecobank
Ecobank’s Reported Audited Full-year 2017 showed an improved turnover from N665billion to N763billion in the corresponding year. This represents about 14% year on year growth.
Its after tax figure rose 233% from a loss of about N52billion declared the previous same period, to settle at N69.9billion as at the end of the period under review.
Earnings per share stands at N3.81 away from the previous loss per share of N2.87.
Its PE Ratio as at when computed stood at 4.6x with an earnings yield 21.43%
Access
The Nigeria’s tier one lender, Access Bank Plc’s Gross earnings for the period ended December 31, 2017 increased from N381.32billion to N459.07 billion in the review period, showing an increase of 20.4%
Its post-tax profit declined 13.2% to N61.99 billion from N71.43 billion recorded a year ago.
Earnings per share consequently dropped also by 13% to N2.14 from the corresponding N2.47.
Access Bank has a PE Ratio of 5.27 with an earnings yield of 18.9%.
The management declared a final dividend of 40kobo to its shareholders.
Custodian
Custodian & Allied Plc listed on the financial services sector of the Nigerian Stock Exchange (NSE) said last Thursday its profit after tax (PAT) hit N7.32 billion compared to N5.33 billion recorded a year earlier.
Pretax profit grew 20.88 percent to N89.3 billion from N7.39 billion declared the same period of 2016.
Gross revenue of the company rose to N43.02 billion from N38.55 billion posted the corresponding period of 2016.
Its earnings per share stood at N1.24 away from 91kobo previously earned in the same period.
PE Ratio stands at 3.3x with an earnings yield of 30.34%.
The Company in a notice to the NSE and made available to the public has proposed to offer a dividend of 32 kobo per share to its shareholders for the period ended December 31, 2017.
Qualification and closure dates have been scheduled for April 11 and April 13-17, 2018 respectively.
Annual General Meeting AGM and payment of the 32 kobo per share dividend is scheduled for the same day April 24, 2018.
Chams
Nigeria’s leading identity management and transaction payments systems solution provider, Chams Plc on March 22, reported a loss of N1.26 billion in the audited year end December 31, 2017 compared to N1.52 billion recorded a year earlier.
Chams posted a pretax loss of N1.23 billion compared to a loss of N1.47 billion declared in the 2016 year end.
Revenue of the identity management and transaction payments systems solution provider grew 32 percent to N1.95 billion from N1.48 billion posted a year ago, Chams said in a filing with the Nigerian Stock Exchange (NSE).
UBA
Africa’s global lender, the United Bank for Africa Plc (UBA) last Friday announced that its pretax profit for the period ended December 31, 2017 climbed up 16.1% to N105.26 billion from N90.6.4 billion recorded a year ago.
Similarly, profit after tax (PAT) grew 8.8% to N78.59 billion from N72.26 billion declared the same period of 2016.
Gross earnings of the bank increased from N383.64 billion in 2016 end to N461.55 billion in the review period of 2017; representing an increase of 20.3 %.
Its PE Ratio stood at 5x with an earnings yield of 19.98% as at when computed.
The lender declared a final dividend of 65 kobo (20 kobo interim) which amounts to a total dividend of 85 kobo per share compared to 75 kobo paid in 2016.
The qualification and closure dates are April 9 and April 10 2018 respectively, while the Annual General Meeting (AGM) and proposed payment date has been scheduled for April 23, 2018.
