Tag
COMPANY FINANCIAL RESULTS
In Hospitality, we will deepen and expand our market share by deploying an asset light strategy, leveraging best in class technology and continuously drive the highest service standards.
The company's cost of sales grew 13.2% y/y to N24.5 billion in Q1 2020, driven by double-digit growth in raw material cost.
A cursory view of the financial statement shows that the company booked N47.5 billion in impairments, as the company decided to revalue its oil and gas assets following the crash in oil prices
The increased profits benefited from the twin effects of continuing top-line growth and focused cost-of-funds optimisation.
The report showed relative improvements across key financial indicators. As always, the summary is presented below.
We place a BUY recommendation on FBN Holdings (FBNH NL) Plc, with a 12-month target price of NGN10.30. This translates to an estimated capital gain of 136.76% from its April 24, 2020 closing price of N4.35.
Fidelity’s UNAUDITED report for Q1 2020 showed Interest Income growth of 11% y/y to N43.9bn, on the back of higher Interest Income on loans
Fidelity Bank Plc felt the impact of the downward adjustment in fees on banking transactions by Nigeria's apex bank, as Net Fee and Commission Income declined 25% y/y to N4.0 billion.
The bank reported a profit after tax of N28.5 billion for the year well ahead of tier 2 banks like Sterling Bank, FCMB and Union Bank Plc
With all its strides in profitability, foreign exchange gains, and even an increase of well over a billion in its net gains on financial instruments, one lone item is baffling.
Interest Expense, on the other hand, declined 18% y/y to N8.9bn despite the 13% YTD growth in Customers Deposits
Polaris Bank Limited has released its full-year 2019 audited financial report, and it is a generally impressive performance.