NSE lifts suspension on Conoil's shares, v

CONOIL consolidates success despite industry worries 

CONOIL’s topline expansion surged further in Q3:2019; 9M:2019 revenue printed at NGN112.72 billion.
Seplat commences $700 million gas plant construction, Vitol Energy transfers 4.63 million shares to Seplat , Seplat, Three more companies announce their closed period ahead of Q3 financial result , Seplat’s 9 months revenue dips by 11.5% according to latest earnings report, Earnings quality undermined by missed output, oil shocks, Firm issues warning over Seplat Petroleum’s acquisition of Eland Oil & Gas 

Earnings quality undermined by missed output, oil shocks

For the third time this year, SEPLAT has missed its production and revenue targets. 9M:2019 topline was down by 12.57% Y-o-Y to NGN151.88bn.
Nestle Quick take: Growth slows in Q3 as profit misses estimates

Nestle : On track for solid 2019 despite emerging concerns

Nestle Nigeria (Nestle) reported Revenue growth of 4.0% y/y to N211.3 billion for 9M 2019 from N203.1 billion.
MTN Nigeria, MTN gives update on USSD charge controversy, MTN’s never-ending $2 billion tax case has a new court date 

Operating performance still strong: Buy rating reiterated   

MTN Nigeria sustained growth in earnings in Q3 as the telco firm reported double-digit growth in Revenue.
Lafarge Africa provides grant for startups, Lafarge Africa’s latest earnings report reveals 8.5% decline in gross profit , Lafarge Africa gets new CFO one month after resignation of former finance director 

Disposal of Lafarge is value accretive; Upgrading to a BUY 

Lafarge recently published its inaugural report following sale of Lafarge South Africa Holdings (LSAH) in Q3.
Zenith Bank reaffirms market dominance and leadership with Q3 2019 results, Zenith Bank Plc, Access Bank Plc and United Bank for Africa Plc

Attractive valuation: Buy

Zenith’s numbers in 9M 2019 showed a decline in yield on Loans to customers and on money market instruments.
Cost pressure dampens earnings growth outlook

Cost pressure dampens earnings growth outlook

Cadbury Nigeria Plc (Cadbury) announced a 7.2% y/y growth in Revenue to N28.9 billion for 9M 2019 compared to N27.0 billion in 9M 2018.  
UAC, UPDC jointly announce recapitalisation and restructuring plans

Quick take: Loss from discontinued operations drives Net Loss   

UACN was able to sustain growth in earnings in its recently released 9M 2019 results.
VFD Holds Third Investors’ Call, Maintained an Impressive Return on Equity of 43% in Q3 2019 

VFD Holds Third Investors’ Call, Maintained an Impressive Return on Equity of 43% in Q3 2019 

VFD Group held its third investors’ conference call that drew interest from several local investors and financial analysts.
Quick take: Disappointing Q3 renews growth concerns

Quick take: Disappointing Q3 renews growth concerns

Unilever Nigeria Plc in its just-published H1 2019 result announced a 28.6% y/y decline in Revenue to N51.6 billion in 9M 2019.
Dangote Cement, Gas turbines

Quick take: Higher OPEX, FX loss weigh on earnings     

Dangote Cement reported a mild decline in Revenue (down 0.8% y/y to N679.8 billion) in 9M 2019.
Nestle Quick take: Growth slows in Q3 as profit misses estimates

Quick take: Growth slows in Q3 as profit misses estimates

Nestle Plc in its recently released 9M 2019 result announced Revenue growth of 4.0% y/y to N211.3 billion for 9M 2019 from N203.1 billion in 9M 2019.
Flour Mill's profit after tax increases by 16.44% in H1 2019  

Flour Mill’s profit after tax increases by 16.44% in H1 2019  

Flour Mills of Nigeria Plc has released its condensed consolidated and separate interim financial statements for half-year 2019.
Forte Oil, profit, Prudent Energy tenders another take-over offer for Forte Oil, Forte Oil's records 1408% profit growth in nine months 

Forte Oil records massive profit growth in nine months 

Forte Oil has released its interim financial statements for the period ended September 30, 2019. 
Elevated direct costs restrain MOBIL earnings growth

Elevated direct costs restrain MOBIL earnings growth

MOBIL's 9M:2019 scorecard has distinguished it from its peers – for its ability to consistently grow topline in a year with grim operating conditions.
Total Nigeria records loss for the first nine months of 2019

Borrowing costs drag TOTAL to 40-year nadir

TOTAL failed to achieve positive revenue growth in its petroleum products segment.
NAHCO Plc's shareholders approve dividend payment, NAHCO's 9-month results indicate 30% profit growth 

NAHCO’s 9-month results indicate 30% profit growth 

Nigerian Aviation Handling Company Plc has released its financial statements for the period ended September 30, 2019.
Ellah Lakes secures shareholders' approval

Ellah Lakes shareholders fund leaps from N497.8 million to N4.5 billion 

Ellah Lakes has disclosed a leap in shareholders' fund from N497.8 million to a whopping sum of N4.5 billion.  
Quick take: Sustained cost pressure weighs on profit

Quick take: Sustained cost pressure weighs on profit

Dangote Sugar, in its recently released 9M 2019 financials, reported 0.6% y/y rise in revenue to N117.4 billion in 9M 2019.
Sterling Bank, Temitayo Adegoke succeeds Justina Lewa at Sterling Bank as she retires, MSMEs get N50 billion business support from Sterling Bank, Quick take: Increased OPEX drags Pre-tax Profit

Quick take: Increased OPEX drags Pre-tax Profit

Sterling's Interest Income grew 2% y/y and 5% q/q. The growth in Interest Income was driven by the improvement in Interest
Union Bank, Dick Kramer, Emeka Emuwa, Union Bank announces close period ahead of Q3 2019 results 

Union Bank’s profits increase by 3.6% in nine months  

Union Bank of Nigeria Plc has released its unaudited financial statements for the period ended September 30, 2019.
Wale Tinubu, Group Chief Executive Officer, Oando Plc, Reclassification of Oando Plc as Low Price Stock

Oando PLC Announces YTD September 2019 Results, Posts N13.1 Billion Profit-After-Tax

Oando PLC Nigeria’s leading indigenous energy group today announced unaudited results for the nine months period ended September 30, 2019.
Nestle Nigeria grows profit by 11.2% in first 3 quarters of 2019 

Nestle Nigeria grows profit by 11.2% in first 3 quarters of 2019 

Nestle Nigeria Plc has consolidated on its dominance with its financial performance during the period spanning January to September 2019.
Unilever Nigeria Plc announces close period ahead of Q3 2019 results, Unilever Nigeria’s 9 months financial report shows surprising profit decline 

Unilever Nigeria’s 9 months financial report shows drastic profit decline 

Unilever Nigeria Plc’s unaudited consolidated financial report for the nine-month ended September 2019 is not impressive at all.
Julius Berger tells investors there're no plans for a rights issue at the moment

Julius Berger’s latest earnings report shows 56.1% profit growth in 9 months 

Nigeria’s construction giant, Julius Berger Plc, has released its consolidated unaudited financial result for the first three quarters of the year.
MTN

MTN Nigeria records 28.9% profit growth in nine months 

MTN Nigeria Communications Plc, has disclosed its consolidated financial report for the nine months ended September 30th, 2019.
Transcorp

Transcorp records N6.7billion Profit After Tax in Q3; maintains a positive revenue outlook

Transcorp Group recorded a Gross revenue of N58.28 billion and posted a Profit Before Tax of N7.36 billion. Total Assets increased from N297.14 billion as of FY 2018 to N313.07 billion.
poor, performance, International Breweries, Quick Take: International Breweries' poor performance extends into Q3

Quick Take: Poor performance extends into Q3

International Breweries (IntBrew) reported a 16.7% y/y growth in Net Revenue to N97.3 billion in 9M 2019 from N83.3 billion in 9M 2018.
Oando Plc, Wale Tinubu, Oando Plc posts N13.1 billion PAT in Q3, up by 26% 

Oando Plc posts N13.1 billion PAT in Q3, up by 26% 

Oando Plc has posted its unaudited third-quarter result (Q3) ended September 2019.
Quick take: Earnings beat estimates on strong Non Interest Income and write backs

Quick take: Earnings beat estimates on strong Non Interest Income and write backs

Fidelity Bank sustained the growth in earnings during 9M 2019 results as the bank posted double-digit growth across major income lines.