AKD Daily Technicals KSE-100_Remains range bound The index opened on a negative note and a range bound activity witnessed. The local bourse posted an intraday low of 177pts, a high of 52pts and concluded with a marginal loss of 15pts to settle at 41,553pts level. The volumes witnessed in the last trading session were slightly higher than the previous trading session. A doji star candle occurred. This is usually considered a reversal signal but confirmation of the candle is dependent on the n...
AKD Daily Technicals KSE-100: Faces a bullish session The index opened on a slightly positive note and faced bullish session. The local bourse posted an intraday high of 444pts and concluded with a gain of 183pts to settle at 41,736pts level. The volumes witnessed in the last trading session were lighter than the previous trading session. The local bourse closed above the lower band by 22.2%. Bollinger Bands are 15.76% narrower than normal. Volume indicators reflect volume flowing into and o...
AKD Daily Technicals KSE-100: Declines amidst good volumes The index opened on a positive note and remained bearish throughout the last trading session. The local bourse posted an intraday low of 1,093pts and concluded with a loss of 923pts to settle at 41,315pts level. The volumes witnessed in the last trading session were heavier than the previous trading session. The local bourse s currently 8.2% below its 200-period moving average and is in an downward trend. Volatility is high as compar...
Market View — TechnicalThe index opened with a negative bias and remained bearish throughout the last trading session. The local bourse posted an intraday low of759pts and concluded with a loss of 661pts to settle at 42,440pts level. The current formation on candlestick chart implies a continuation of abearish trend. A falling window candlestick occurred in the last trading session and the last two preceding candlesticks were black whichmakes the current pattern bearish.The chart formation depic...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Summary Marketline's London Biscuits Berhad Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by London Biscuits Berhad since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the...
A director at Nestle Pakistan Ltd bought 1,800 shares at 5,500.000PKR and the significance rating of the trade was 56/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years...
At least 40 banks attended a ‘beauty parade’ in Saudi Arabia in the last few days for the IPO. What the bankers may not be aware of is that they are about to herald a boom – there are strong signs that the five-year bear market in commodities could reverse dramatically with this move:
Outlook is positive, reiterate Buy. We are optimistic about Nestle Nigeria’s performance in 2019 as we expect growth to be supported by a sustained improvement in the domestic economy. Furthermore, we expect the drive to boost retail volume growth to continue to yield positive results. We expect lower finance costs, which should support revenue growth; we forecast revenue and EPS growth of 17.1% and 20.6% respectively in FY19. Thus, we maintain our target price of NGN1,700 and reiterate our Bu...
• Consumer companies are likely to outperform in 2019, as they have been unshackled from the twin risks of excessive debt and looming depreciation. • In 2018, the ‘danger zone’ of our basket of 42 consumer stocks underperformed the S&P 500, MSCI EM and MSCI FM by 7 to 13%, indicating that the risks are in the price. • Several large developing markets have elections in 2019 – notably Indonesia, Thailand and Nigeria. Elections could be a fillip for consumer spending. • Our top picks ...
We change our recommendation to SELL on Fauji Foods Limited (FFL) due to a downward earnings revision for CY18, where we expect the gross margins to drag the profitability. Resultantly, we slash our Jun-19 PT to PKR 30/share, which indicates a downside of 11% from LDCP. We expect FFL liquid products’ sales to grow 57% YoY during CY18 on the back of increase in both UHT milk and Tea Whitener sales. Company’s market share in both the categories is likely to settle in at 7.0% and 24.0%, resp...
Consumer companies are facing a potentially nasty predicament of high foreign currency debt levels at a time of local currency depreciation. Net debt has risen by 15% CAGR among our select group of consumer stocks. We stress test the cashflows of the sector using a Teflon Test. THBEV SP, NB NL, NESTLE NL and JKH SL seem immune. FLOURMIL NL, CPF TB, JAP SP and UACN NL look vulnerable as they have high foreign debt, low margins and foreign currency inputs.
We upgrade Nestle Nigeria (Nestle NL) to Buy with a DCF-derived target price of NGN1,700: Nestle Nigeria is a marquee frontier consumer name that has borne the brunt of the macro concerns in Nigeria. The stock is oversold, in our view, having lost 47% of its US$ value from its peak. Since the Nigerian devaluation in 2016, Nestle Nigeria is down 14% in absolute terms.
IMS Food Universe (EFOODS, NESTLE, NATF and UPFL) posted combined 1QCY18 NPAT of PRs3.9bn, down 12%YoY (incl. FFL: down 17%YoY). Dairy company profits dropped 15%YoY (NESTLE- Dairy segment, EFOODS and FFL) while non-dairy results (NESTLE- Beverages, NATF and UPFL) depicted a 13%YoY decline; UPFL outperformed. Dairy players, Nestle (dairy) and particularly FFL reported a 6%/54%YoY jump in revenue, on expanding UHT footprint, although translation bottlenecks remain for FFL (1QCY18 LPS: PRs1.17 ...
We are constructive on Nestle Nigeria’s earnings outlook in FY 18, estimating EPS growth of 13% yoy. We believe that volume growth and operating efficiency will remain key to driving performance, and expect that likely price increases later in the year will also provide some support. However, we maintain our Sell rating on the company’s stock due to its rich valuations: it trades at an FY 19 PE of 29.5x; similar-branded consumer company peers trade at 19.0x.
A director at Fauji Foods Ltd sold 235,500 shares at 39.580PKR and the significance rating of the trade was 55/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearl...
IMS Food Universe (EFOODS, NATF, UPFL and FFL) posted combined CY17 NPAT of PRs239mn, down a massive 94%YoY. Dairy companies reported a net loss in CY17 while non-dairy players depicted an 8%YoY rise in profits. Although both dairy players EFOODS and FFL reported net loss in 4QY17, FFL gained significant market share in both UHT and Tea whitener category while EFOODS dairy volumes dropped significantly, reflecting in 25%YoY revenue decline. On the other hand, non-dairy companies NATF & UPFL d...
Nestlé Nigeria reported its FY17 earnings result late Friday, posting EPS of NGN42.55, +326% yoy. This implies Q4 17 EPS OF NGN13.54, +44% yoy and 67% qoq. The company also announced a final DPS of NGN27.50 culminating in a FY17 DPS of NGN42.50, +347% yoy having paid an interim DPS of NGN15.00 earlier in the year.
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