Earnings Update- Flour Mills of Nigeria PLC

Flour Mills of Nigeria PLC  (FLOURMILL)  Q2-2020 financials shows an impressive growth in gross earnings by 31.15% from N270.76bn in Q2-2019 to N355.11  billion in the current period. Topline performance was specifically  boosted by a 45.87% and 29.47% increase in income from Agro Allied and Sugar operating segment respectively. Revenue from Agro Allied business advanced from N49.40 […]

Earnings Update-MTN

MTN Revenue Driven By Surge in Data Revenue MTNN Q3-2020 financials shows impressive growth in gross earnings by 14.38% from N856.55 billion in Q3-2019 to N979.76 billion in the current period. The growth in revenue was majorly supported by a surge of 48.90 % in data revenue and a 4.67% increase in voice revenue. MTNN Data revenue […]

Earnings Update-Stanbic IBTC Holdings

Gross Earnings Improves Despite Weak Macroeconomic Environment Stanbic IBTC Holdings PLC (STANBIC) released the Q3- 2020 financial result showing a 4.1%YoY increase in gross earnings to N183.29 from the N176.16 recorded in 2019. This represent a modest topline growth as the effect of the COVID-19 pandemic ease on the business activities following the gradual opening of the […]

economy, Nigerian economy, market report, market update

Weekly Market Update

The Nigerian Bourse close faith as investors await third quarter earnings. The All Share Index (ASI) closed at 28,659.45 while market capitalization lost N598.23  to close at N14.98 trillion Performance across sectors  was mixed as 3 sectors under coverage closed positive. insurance, consumer goods and oil and gas indices advanced  by 1.09%, 0.88% and 0.54% […]

economy, Nigerian economy, market report, market update

Weekly Market Update

Nigerian bourse sustained uptrend amid declining volumes and value of transaction last week. The ASI advanced by 0.80% to close at 28,659.45. Similarly, Market Capitalization gained N127.6bn closing at ₦14.98tn while YtD return improved to 6.8% Market breadth, a measure of Investors’ sentiment declined from 4.0x to 1.8x as 35 stocks advanced while  20 stocks declined last […]

Performance Review of the Economic Recovery and Growth Plan

Performance Review of the Economic Recovery and Growth Plan The Economic Recovery and Growth Plan (ERGP) is a medium term planned for 2017 to 2020 developed to restore Nigeria’s economic growth while leveraging the resilience and ingenuity of the Nigerian citizens. This plan was a reaction to the negative growth recorded by the country in […]

economy, Nigerian economy, market report, market update

WEEKLY MARKET UPDATE

Commodities The commodities under our radar closed in a mixed territory last week with the energy commodities recording weekly decline due to the fear of the second wave of COVID-19. The metal commodities such as Gold, Silver and Copper however gained WoW. Brent declined significantly by -8.44% to close the week at $38.73/barrel while WTI […]

Implications of Nigeria’s Consumption Expenditure Pattern

Implications of Nigeria’s Consumption Expenditure Pattern The latest consumption expenditure data from the NBS shows that Nigerians spent N40.21 trillion on food and non-food items in 2019, of which expenditure on food consumption outside of home was highest (11.43% of total consumption expenditure) followed by expenses on transport (6.44% of total consumption expenditure) and consumption […]

economy, Nigerian economy, market report, market update

Weekly Market Update

Commodities The commodities under our radar closed in a positive territory (safe Gold) last week with Brent gaining the highest as demand for oil keeps building up due to gradual easing of lock-downs by countries. Brent grew by 7.71% to close the week at $37.84/barrel while WTI spiked by 5.24% to close at $35.32/barrel. Gold […]