Earnings Flash

Total Nig. Plc- Profit After Tax Increased By 28.70% YoY For 9M-2018

Dear Client/Reader,

The topline result of Total Plc. showed a slight movement of 2.58% in revenue that increased to N226.9bn from N221.2bn that was recorded in 9M’2017. The cost of sales for the period also reduced by 1.34% (YoY) from N198.6bn to N196bn. The marginal increase of 2.58% in Revenue and decline of 1.34% recorded in cost of sales pushed gross profit up by 37% from N22.6bn to N31bn.The firm reported a decline of 69% in other income resulting from foreign exchange loss of about N902 mn as against N2.6bn recorded in 9M’17. However, Profit before tax increased by 18.2% from N9.7bn in 9M’17 to N11.4bn while the Profit after tax for the period also grew by 29% to N7.7bn as against N6bn recorded a year ago. Eps currently stands at N22.58 up by 29% from N17.54 while the company declared a dividend of N3 per share.

Key Multiples/Ratios

  Book Value Per Share- 88.89

 Gross Profit Margin- 13.65%

  Net Profit Margin-  3.38%

  Return on Equity – 25.40%

  Return on Asset-    5.95%

  Cost of Sales Margin- 86.35%

  Price to Book Value- 2.23x

Please find attached Total Nig. Plc. 9M-2018 result.

Earnings Flash-Total Nig Plc. 9M-2018



Dear Client/ Reader,

FCMB Plc. results for 9M 2018 showed an impressive PBT growth of 121% y/y from N6.7 bn in 9M’17 to N14.8 bn. The key driver behind the PBT growth was the growth of 165% y/y in trading income and 152% improvement in other income on the back of massive gains in foreign exchange transactions that increased from N428 mn in 9M’17 to N9 bn in the current period, which were strong enough to offset the increase recorded in operating expense by 15% y/y. Non-interest income (NIR) also increased by 66% y/y to N37.5 bn (9M’17; N22.5 bn) while also noting a decline of 9% in interest expenses which reduced to N42.2 bn (9M’17; N46.4 bn). Consequently, Earnings per share spiked massively by 104% y/y from N0.28 in 9M’17 to N0.57 in the current period.

Key Multiples/Ratios

  Book Value Per Share- 9.04

  Net Profit Margin-  8.54%

  Return on Equity – 6.34%

  Return on Asset-    0.88%

  Price to book value- 0.14x

  Total Loan to Total Deposit- 76.71%

  Current Shares Outstanding-  19.8 Billion

  Last closing price N1.32


Please find attached FCMB 9M’2018 result.


Earnings Flash- FCMB Plc. 9M-2018

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