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....
Supply correction continues to drive earnings The Okomu Oil Palm Company PLC (OKOMUOIL) recently released its H1’20 result, reporting a 58% y/y jump in Net profit to ₦4.0 billion, 6% ahead of our ₦3.8 billion estimate. The earnings beat was driven by a stronger-than-expected topline as well as lower tax expense. At this time last year, Okomu’s topline had tumbled 34% y/y due to weak domestic CPO prices, amid a smuggling-induced oversupp...
Impressive start to FY’18 OKOMUOIL recently released its Q1’18 results showing strong y/y growth across all line items. PAT over the 3-month period came in at ₦3.5 billion, 13% higher than prior year’s ₦3.1 billion. The decent performance was majorly driven by a 25% y/y topline growth to ₦6.7 billion and a significant 48% y/y decline in cost of sales to ₦0.7 billion - outweighing pressures from OPEX (up 116% y...
Earnings climax in line with expectationsOKOMUOIL recently released FY’17 results showing strong y/y growth across all line items and mostly in line with our expectations. Overall, total revenue rose 40% y/y to ₦20.3 billion, 4% behind our estimate, whilst Gross Profit increased 49% to ₦16.0 billion, 6% behind our estimate. However, with OPEX (as a % of sales) contained better than expected (FY’17: 25% vs Vetiva: 31%), FY’17 EBIT (up 60% y/y to ₦11.1 billion) topped our estimate marginally...
OKOMUOIL reported strong FY’16 results with all profit lines coming in at record high. PAT rose 87% y/y to ₦4.9 billion (Vetiva: ₦5.0 billion) despite a sizeable FX loss of ₦1.0 billion (FY’15: ₦29 million), translating to an EPS of ₦5.15. The strong earnings performance was mainly buoyed by the Oil Palm business segment which continues to benefit from favorable government policies, particularly the inclusion of Palm oil related products on the list of 41-items not eligible for of...
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
OKOMUOIL’s H1’16 earnings showed strong y/y and q/q growth across every line item. Turnover for the 6-month period increased 51% y/y to N7.5 billion (Oil palm sales up 66% to N6.8 billion, Rubber sales down 15% to N0.8 billion amidst c.12%y/y fall in international rubber prices) whilst PAT came in at N3.5 billion, almost doubling the N1.8 billion reported in H1’15. We are not surprised by the sharp topline growth in the oil palm segment as we had earlier envisaged a sizeable shift in produ...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.