Weekly Market Review & Stock Recommendation – September 12, 2022

By Yahya Abdulrahman All Research, Weekly Report and Stock Recommendation Comments Off

Some of our recommended stocks are mentioned below;

Nigerian Breweries Plc Q2 2022 results showed an increase in revenue by 30.98% from ₦209.26bn in Q2 2021 to ₦274.08bn in Q2 2022. Operating profit advanced from ₦19.92bn in Q2 2021 to ₦35.84bn in Q2 2022, reflecting an increase of 79.94%. Profit before tax grew by 115.21% from ₦11.94bn in Q2 2021 to ₦25.7bn in the current period, as finance income grew by 155% and finance cost dropped by 36%. Profit after tax rose by 143% from ₦7.72bn in Q2 2021 to ₦18.74bn in Q2 2022. EPS increased by 142% to ₦2.32 in Q2 2022 from ₦0.96 in Q2 2021. Nigerian Breweries has a BVPS of ₦23.28, P/BV of 2.08x and P/E ratio of 10.43x.

UBA Plc’s Q2 2022 result showed that Interest income advanced by 15.60% from N222.63bn in Q2 2021 to N257.36bn in the current period. Net interest income increased by 19.85% to N177.46bn in Q2 2022 from N148.07bn in Q2 2021. Profit before tax advanced by 12.55% from N76.19bn recorded in Q2 2021 to N85.75bn in the current period, on the back of a 501% increase in net impairment write-back and 30.11% rise in fees and commission income. Likewise, profit after tax grew by 16.1% from N60.58bn in Q2 2021 to N70.33bn in Q2 2022 as income tax expense decreased by 1.22%. Consequently, earnings per share went up by 17.16% from N1.69 in Q2 2021 to N1.98 in Q2 2022. UBA has a BVPS of N23.06, P/BV of 0.33x and a P/E ratio of 1.91x.

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Weekly Market Review & Stock Recommendation – September 12, 2022

Weekly Market Review & Stock Recommendation – September 12, 2022

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