UBA Capital released its 2014 half year results showing a Gross Earnings of N2.2billion compared to N1.8billion the year before. Pre-tax profits was N1.5billion compared to N1.2billion same period 2013. I don’t know much about this company and it looks like one I should take a closer look at in the coming days. The company’s share price has risen 146% in the last one year even though its growth has been pretty much flat this year. This results puts the stock in the spotlight.
Nigeria Breweries Plc released its 2014 half year results showing a 15.5% rise in Earnings per share to N3.16 compared to N2.73 same period last year. Revenue also rose 5% this period to N141.4billion. This is a strong half year result for the company and I expect it to have a positive impact on its valuation. The market off course places a high P.E ratio relative to its earnings growth of 3.8x (PEG ratio) but for a company that big and still able to grow market share amidst competition one can begin to at leaf understand. The share price might gain 5% this week.
This is another company that released its 2014 half year results last week. The once ailing bank posted a 266% increase in pre-tax profits this period of N1.7billion. In fact it posted a pre-tax profit of N1billion for the whole of 2013 (if you discount the income it earned from its associates). The stock gained 13% last week and I expect moving in the share price this week as well.
Oando announced plans to own 100% of its OML asset in the COP deal by effectively buying out the minority shareholders Medal Oil Plc. Despite this seemingly good move, the market wasn’t overtly pleased and hammered the share price falling from N28 to close at N25 by the end of the week. I am not sure how the market will react this week but be sure to expect some movement here.
I had expected the share price to finally cross N6 at the end of last week, however sell side pressure did push the price downwards to about thrice during the week before rebounding to N5.91 by Friday. It’s opening price on Monday July 21 will probably determines its trajectory by the end of the week. Not to forget its results too which I expect should be out this week.
Forte Oil, Unilever, GTB and Zenith are stocks to watch out for as well.