Earnings ReportFeatured

Earnings Update: Dangcem, FBNH, UBN, PORTLAND PAINTS, NAHCO, MTNN, Others

MTNN H1 CORPORATE ACTION

Interim Dividend: N2.95
Qualification Date: 8th August, 2019
Payment Date: 16th August, 2019

MTNN
Statement of Comprehensive Income
  2019(Mill) June 2019 2018(Mill) June 2019 %CHG
Turnover                566,946            505,667 12.12
Cost of Sales                117,877            149,443 21.12
Operating Profit                190,403            136,501 39.49
OPEX                147,256            138,398 6.40
DEPRECIATION                  99,988               68,341 46.31
AMORTISATION                  14,476               13,028 11.12
FINANCE COST                  59,090               40,512 45.86
NET FINANCE INCOME                (48,605)            (28,146) 72.69
PBT                141,797            108,354 30.86
TAX                  42,866               34,959 22.62
PAT                  98,930               73,395 34.79
TOTAL COMP INCOME                  98,904               73,240 35.04
Statement of Financial Position
  June 2019 Dec. 2018  
Current Assets                225,540            195,854 15.16
Non Current Assets            1,254,816            745,884 68.23
Total Assets            1,480,357            941,739 57.19
Current Liabilities                568,258            580,948 2.18
Non Current Liabilities                810,796            141,439 473.25
Total Liabilities            1,379,054            722,387 90.90
Net Assets                101,302  219,352 53.82
Retained Earnings                  83,406            101,302 17.67
Shares Outstanding                  20,354,513,050               20,354,513,050  
Investment/Valuation Ratios
Tickers 2019 2018 %Chg
Price at Released 126.00 90.00 40.00
EPS 4.86 3.61 34.79
TCIP/SHARE 4.86 3.60 35.04
P/E-Ratio 25.92 24.96 3.86
Earnings Yield 3.86% 4.01% 3.72
BV/Share 4.98 10.78 53.82
PBV 25.32 8.35 203.15
CAPEX/SHARE 35.73 5.69 528.20

NESTLE NIGERIA
Statement of Comprehensive Income
  2019 (000) 2018(000) %CHG
Turnover                141,909,053            135,295,682 4.89
Cost of Sales                  75,828,436               79,718,028 4.88
Operating Profit                  40,434,182               32,153,211 25.75
OPEX                  25,646,435               23,424,443 9.49
DEPRECIATION                     3,463,191                 7,791,822 55.55
FINANCE COST                        888,676                     838,161 6.03
NET FINANCE INCOME                             2,419                  (280,666) 100.86
PBT                  40,436,601               31,872,545 26.87
TAX                  14,190,447               10,414,941 36.25
PAT                  26,246,154               21,457,604 22.32
TOTAL COMP INCOME                  26,246,154               21,457,604 22.32
Statement of Financial Position
Current Assets                  84,080,217               89,836,520 6.41
Non Current Assets                  79,435,051               68,978,210 15.16
Total Assets                163,515,268            158,814,730 2.96
Current Liabilities                  97,236,915               90,210,890 7.79
Non Current Liabilities                  20,408,558               24,080,993 15.25
Total Liabilities                117,645,473            114,291,883 2.93
Net Assets                  45,869,795               44,522,847 3.03
Retained Earnings                  45,365,996               43,979,061 3.15
Shares Outstanding                        792,656,252                     792,656,252  
Investment/Valuation Ratios
Tickers 2019 2018 %Chg
Price at Released 1300.00 850.02 52.94
EPS 33.11 27.07 22.32
TCIP/SHARE 33.11 27.07 22.32
P/E-Ratio 39.26 31.40 25.03
Earnings Yield 2.55% 3.18% 20.02
BV/Share 57.87 56.17 3.03
PBV 22.46 15.13 48.45
CAPEX/SHARE 100.14 57.87 73.05

C C N N
Statement of Comprehensive Income
  2019(000) 2018(000) %CHG
Turnover                  32,148,368               12,084,569 166.03
Cost of Sales                  17,759,458                 6,619,313 168.30
Operating Profit                     9,756,921                 3,681,613 165.02
OPEX                     4,716,29                 1,810,562 160.49
DEPRECIATION                     3,556,67                     462,012 669.82
AMORTISATION                                   97                               80 20.37
FINANCE COST                           39,541                       33,934 16.53
NET FINANCE INCOME                        (45,703)                     (54,771) 16.56
PBT                     9,711,218                 3,659,647 165.36
TAX                     2,427,805                 1,056,651 129.76
PAT                     7,283,412                 2,602,995 179.81
TOTAL COMP INCOME                     7,283,412                 2,602,995 179.81
Statement of Financial Position
Current Assets                  23,128,817               15,669,536 47.60
Non Current Assets                333,625,025               14,597,721 2,185.46
Total Assets                356,753,842               30,267,257 1,078.68
Current Liabilities                  13,488,728               10,366,004 30.12
Non Current Liabilities                     2,533,612                 2,886,051 12.21
Total Liabilities                  16,022,340               13,252,055 20.90
Net Assets                340,771,502               17,051,201 1,898.52
Retained Earnings                        228,965               12,776,685 98.21
Shares Outstanding                  13,143,500,966                 1,256,677,766  
Investment/Valuation Ratios
Tickers 2019 2018 %Chg
Price at Released 11.60 31.35 63.00
EPS 0.55 2.07 73.25
TCIP/SHARE 0.55 2.07 73.25
P/E-Ratio 20.93 15.14 38.31
Earnings Yield 4.78% 6.61% 27.70
BV/Share 25.93 13.57 91.08
PBV 0.45 2.31 80.64
CAPEX/SHARE 17.16 271.17 93.67

GLAXO SMITHKLINE
Statement of Comprehensive Income
  2019 2018 %CHG
Turnover                     9,964,484                 8,593,948 15.95
Cost of Sales                     6,542,515                 6,342,817 3.15
Operating Profit                        531,506                     517,223 2.76
OPEX                     2,467,526                 2,456,015 0.47
DEPRECIATION                        169,040                     210,356 19.64
PBT                        531,506                     517,223 2.76
TAX                        159,452                     155,167 2.76
PAT                        372,054                     362,056 2.76
TOTAL COMP INCOME                        372,054                     362,056 2.76
Statement of Financial Position
Current Assets                  13,784,289               14,335,944 3.85
Non Current Assets                     2,279,508                 2,299,691 0.88
Total Assets                  16,063,797               16,635,635 3.44
Current Liabilities                     7,349,814                 8,070,565 8.93
Non Current Liabilities                        107,085                                         –   #DIV/0!
Total Liabilities                     7,456,899                 8,070,565 7.60
Net Assets                     8,606,898                 8,565,070 0.49
Retained Earnings                     7,957,564                 7,915,736 0.53
Shares Outstanding                     1,195,876,488                 1,195,876,488  
Investment/Valuation Ratios
Tickers 2019 2018 %Chg
Price at Released 8.00 17.00 52.94
EPS 0.31 0.30 2.76
TCIP/SHARE 0.31 0.30 2.76
P/E-Ratio 25.71 56.15 54.21
Earnings Yield 3.89% 1.78% 118.37
BV/Share 7.20 7.16 0.49
PBV 1.11 2.37 53.17
CAPEX/SHARE 1.44 7.20 80.03

OANDO
Statement of Comprehensive Income
  2019 (Mill) 2018(Mill) %CHG
Turnover                315,408,564            297,307,627 6.09
Cost of Sales                273,520,244            246,295,318 11.05
Operating Profit                     1,168,340               13,842,852 91.56
OPEX                  53,700,971               32,418,742 65.65
DEPRECIATION                  11,493,573               10,586,601 8.57
FINANCE COST                  21,285,113               21,000,649 1.35
NET FINANCE INCOME                  16,667,997               15,911,662 4.75
PBT                (17,280,809)               (2,262,629) 663.75
TAX                  24,449,451               10,755,789 127.31
PAT                     7,168,642                 8,493,160 15.60
TOTAL COMP INCOME                     4,856,950               14,387,934 66.24
Statement of Financial Position
Current Assets                114,565,459            197,963,742 42.13
Non Current Assets                921,941,256            918,658,071 0.36
Total Assets            1,036,506,715         1,116,621,813 7.17
Current Liabilities                440,478,663            466,158,374 5.51
Non Current Liabilities                312,845,032            376,368,414 16.88
Total Liabilities                753,323,695            842,526,788 10.59
Net Assets                281,973,661            274,095,025 2.87
Retained Earnings              (122,926,124)          (137,743,154) 10.76
Shares Outstanding                  12,431,412,481               12,431,412,481  
Investment/Valuation Ratios
Tickers 2019 2018 %Chg
Price at Released 3.70 4.85 23.71
EPS 0.58 0.68 15.60
TCIP/SHARE 0.39 1.16 66.24
P/E-Ratio 6.42 7.10 9.62
Earnings Yield 15.59% 14.09% 10.64
BV/Share 22.68 22.05 2.87
PBV 0.16 0.22 25.84
CAPEX/SHARE 29.16 22.68 28.57

DANGOTE CEMENT
Statement of Comprehensive Income
  2019(Mill) 2018(Mill) %CHG
Turnover                487,730            482,439 1.10
Cost of Sales                183,172            197,595 7.30
Operating Profit                170,496            200,517 14.97
OPEX                105,290               86,863 21.21
DEPRECIATION                  47,448               45,490 4.30
FINANCE COST                  19,619               21,530 8.88
NET FINANCE INCOME                  15,008               14,979 0.19
PBT                155,488            185,538 16.20
TAX                  36,248               72,374 49.92
PAT                119,242            113,164 5.37
TOTAL COMP INCOME                117,276            125,438 6.51
Statement of Financial Position
Current Assets                374,602            486,021 22.92
Non Current Assets            1,281,829         1,243,254 3.10
Total Assets            1,656,431         1,729,275 4.21
Current Liabilities                498,646            598,915 16.74
Non Current Liabilities                326,544            402,487 18.87
Total Liabilities                825,190         1,001,402 17.60
Net Assets                831,241            727,873 14.20
Retained Earnings                695,547            573,064 21.37
Shares Outstanding                  17,040,507,405               17,040,507,405  
Investment/Valuation Ratios
Tickers 2019 2018 %Chg
Price at Released 170.17 234.70 27.49
EPS 7.00 6.64 5.37
TCIP/SHARE 6.88 7.36 6.51
P/E-Ratio 24.32 35.34 31.19
Earnings Yield 4.11% 2.83% 45.33
BV/Share 48.78 42.71 14.20
PBV 3.49 5.49 36.51
CAPEX/SHARE 72.30 48.78 48.22

NAHCO
Statement of Comprehensive Income
  2019(000) 2018(000) %CHG
Turnover                     4,800,209                 4,643,346 3.38
Cost of Sales                     3,222,671                 3,026,498 6.48
Operating Profit                        591,702                     466,561 26.82
OPEX                     1,090,877                 1,318,663 17.27
DEPRECIATION                        415,733                     394,498 5.38
AMORTISATION                             9,108                         7,528 20.99
FINANCE COST                           73,627                       87,034 15.40
NET FINANCE INCOME                           12,893                       34,415 62.54
PBT                        579,596                     500,976 15.69
TAX                        112,336,                       82,402 36.33
PAT                        467,259                     418,574 11.63
TOTAL COMP INCOME                        467,259                     418,574 11.63
Statement of Financial Position
Current Assets                     7,313,824                 6,190,056 18.15
Non Current Assets                     6,486,919                 7,016,227 7.54
Total Assets                  13,800,743               13,206,283 4.50
Current Liabilities                     6,098,765                 4,395,095 38.76
Non Current Liabilities                        910,879                 1,619,016 43.74
Total Liabilities                     7,009,644                 6,014,111 16.55
Net Assets                     6,791,100                 7,192,172 5.58
Retained Earnings                     4,185,651                 4,590,121 8.81
Shares Outstanding                     1,624,218,750                 1,624,218,750  
Investment/Valuation Ratios
Tickers 2019 2018 %Chg
Price at Released 2.54 4.00 36.50
EPS 0.29 0.26 11.63
TCIP/SHARE 0.29 0.26 11.63
P/E-Ratio 8.83 15.52 43.12
Earnings Yield 11.33% 6.44% 75.80
BV/Share 4.18 4.43 5.58
PBV 0.61 0.90 32.75
CAPEX/SHARE 3.62 4.19 13.53

PORTLAND PAINT
Statement of Comprehensive Income
  2019(000) 2018(000) %CHG
Turnover                     1,358,710                 1,433,277 5.20
Cost of Sales                        853,586                     901,536 5.32
Operating Profit                           89,600                     128,990 30.54
OPEX                        420,085                     455,989 7.87
DEPRECIATION                           32,261                       30,469 5.88
AMORTISATION                             5,347                         5,347 0.00
FINANCE COST                             3,314                         3,726 11.06
NET FINANCE INCOME                             4,918                         2,008 144.92
PBT                           94,518                     130,998 27.85
TAX                           30,246                       41,919 27.85
PAT                           64,272                       89,078 27.85
TOTAL COMP INCOME                           64,272                       80,078 19.74
Statement of Financial Position
Current Assets                     1,884,158                 1,771,205 6.38
Non Current Assets                        540,665                     508,756 6.27
Total Assets                     2,424,823                 2,279,961 6.35
Current Liabilities                        834,170                     775,811 7.52
Non Current Liabilities                           29,071                       22,056 31.81
Total Liabilities                        863,241                     797,867 8.19
Net Assets                     1,561,582                 1,482,094 5.36
Retained Earnings                        635,028                     555,541 14.31
Shares Outstanding                        793,415,535                     793,415,535  
Investment/Valuation Ratios
Tickers 2019 2018 %Chg
Price at Released 2.47 2.05 20.49
EPS 0.08 0.11 27.85
TCIP/SHARE 0.08 0.10 19.74
P/E-Ratio 30.49 18.26 66.99
Earnings Yield 3.28% 5.48% 40.12
BV/Share 1.97 1.87 5.36
PBV 1.25 1.10 14.35
CAPEX/SHARE -0.35 1.97 117.52

UNION BANK
Statement of Comprehensive Income
  2019 (Mill) 2018(Mill) %CHG
GROSS EARNINGS                  76,017               83,333 8.78
INTEREST INCOME                  57,349               62,202 7.80
INTEREST EXPENSES                  31,356               27,856 12.56
NET INTEREST INCOME                  49,146               50,852 3.35
OPEX                  33,775               35,880 5.87
DEPRECIATION                     3,707                 3,328 11.39
PBT                  12,126               11,664 3.96
TAX                        273                     206 32.52
PAT                  11,853               11,458 3.45
TOTAL COMP INCOME                  14,226                 8,648 64.50
Statement of Financial Position
Total Assets            1,713,460         1,471,152 16.47
Total Liabilities            1,474,490         1,180,801 24.87
Net Assets                238,970            290,351 17.70
Retained Earnings                  66,126               76,294 13.33
Total Deposits            1,001,054            918,172 9.03
Total Loans and Advances                526,035            483,779 8.73
Investment/Valuation Ratios
Tickers 2019 2018 %Chg
EPS 0.41 0.39 3.45
TCIP/SHARE 0.49 0.30 64.50
P/E-Ratio 3.96 3.56 11.34
Earnings Yield 6.31% 7.03% 10.19
BV/Share 8.21 9.97 17.70
PBV 0.79 0.56 39.94
CAPEX 0.18 -0.21 184.26

FBNH
Statement of Comprehensive Income
  2019(Mill) 2018(Mill) %CHG
GROSS EARNINGS                149,867            143,422 4.49
INTEREST INCOME                109,732            114,505 4.17
INTEREST EXPENSES                  37,195               40,612 8.41
NET INTEREST INCOME                  20,549               20,050 2.49
OPEX                  69,542               58,354 19.17
DEPRECIATION                     4,876                 3,907 24.80
PBT                  20,566               20,061 2.52
TAX                     4,642                 1,309 254.62
PAT                  15,924               18,708 14.88
TOTAL COMP INCOME                  27,003               11,529 134.22
Statement of Financial Position
Total Assets            5,670,245         5,306,519 6.85
Total Liabilities            5,109,330         4,646,315 9.97
Net Assets                560,917            660,204 15.04
Retained Earnings                  24,280            151,331 83.96
Total Deposits            4,284,513         3,957,388 8.27
Total Loans and Advances            2,701,107         2,715,710 0.54
Investment/Valuation Ratios
Tickers 2019 2018 %Chg
EPS 0.44 0.52 14.88
TCIP/SHARE 0.75 0.32 134.22
P/E-Ratio 5.64 4.80 17.48
Earnings Yield 4.44% 5.21% 14.88
BV/Share 15.63 18.39 15.04
PBV 0.64 0.54 17.70
CAPEX 0.12 -0.22 155.78

Comment here

Earnings ReportFeatured

Earnings Update: Dangcem, FBNH, UBN, PORTLAND PAINTS, NAHCO, MTNN, Others

MTNN H1 CORPORATE ACTION

Interim Dividend: N2.95
Qualification Date: 8th August, 2019
Payment Date: 16th August, 2019

MTNN
Statement of Comprehensive Income
  2019(Mill) June 2019 2018(Mill) June 2019 %CHG
Turnover                566,946            505,667 12.12
Cost of Sales                117,877            149,443 21.12
Operating Profit                190,403            136,501 39.49
OPEX                147,256            138,398 6.40
DEPRECIATION                  99,988               68,341 46.31
AMORTISATION                  14,476               13,028 11.12
FINANCE COST                  59,090               40,512 45.86
NET FINANCE INCOME                (48,605)            (28,146) 72.69
PBT                141,797            108,354 30.86
TAX                  42,866               34,959 22.62
PAT                  98,930               73,395 34.79
TOTAL COMP INCOME                  98,904               73,240 35.04
Statement of Financial Position
  June 2019 Dec. 2018  
Current Assets                225,540            195,854 15.16
Non Current Assets            1,254,816            745,884 68.23
Total Assets            1,480,357            941,739 57.19
Current Liabilities                568,258            580,948 2.18
Non Current Liabilities                810,796            141,439 473.25
Total Liabilities            1,379,054            722,387 90.90
Net Assets                101,302  219,352 53.82
Retained Earnings                  83,406            101,302 17.67
Shares Outstanding                  20,354,513,050               20,354,513,050  
Investment/Valuation Ratios
Tickers 2019 2018 %Chg
Price at Released 126.00 90.00 40.00
EPS 4.86 3.61 34.79
TCIP/SHARE 4.86 3.60 35.04
P/E-Ratio 25.92 24.96 3.86
Earnings Yield 3.86% 4.01% 3.72
BV/Share 4.98 10.78 53.82
PBV 25.32 8.35 203.15
CAPEX/SHARE 35.73 5.69 528.20

NESTLE NIGERIA
Statement of Comprehensive Income
  2019 (000) 2018(000) %CHG
Turnover                141,909,053            135,295,682 4.89
Cost of Sales                  75,828,436               79,718,028 4.88
Operating Profit                  40,434,182               32,153,211 25.75
OPEX                  25,646,435               23,424,443 9.49
DEPRECIATION                     3,463,191                 7,791,822 55.55
FINANCE COST                        888,676                     838,161 6.03
NET FINANCE INCOME                             2,419                  (280,666) 100.86
PBT                  40,436,601               31,872,545 26.87
TAX                  14,190,447               10,414,941 36.25
PAT                  26,246,154               21,457,604 22.32
TOTAL COMP INCOME                  26,246,154               21,457,604 22.32
Statement of Financial Position
Current Assets                  84,080,217               89,836,520 6.41
Non Current Assets                  79,435,051               68,978,210 15.16
Total Assets                163,515,268            158,814,730 2.96
Current Liabilities                  97,236,915               90,210,890 7.79
Non Current Liabilities                  20,408,558               24,080,993 15.25
Total Liabilities                117,645,473            114,291,883 2.93
Net Assets                  45,869,795               44,522,847 3.03
Retained Earnings                  45,365,996               43,979,061 3.15
Shares Outstanding                        792,656,252                     792,656,252  
Investment/Valuation Ratios
Tickers 2019 2018 %Chg
Price at Released 1300.00 850.02 52.94
EPS 33.11 27.07 22.32
TCIP/SHARE 33.11 27.07 22.32
P/E-Ratio 39.26 31.40 25.03
Earnings Yield 2.55% 3.18% 20.02
BV/Share 57.87 56.17 3.03
PBV 22.46 15.13 48.45
CAPEX/SHARE 100.14 57.87 73.05

C C N N
Statement of Comprehensive Income
  2019(000) 2018(000) %CHG
Turnover                  32,148,368               12,084,569 166.03
Cost of Sales                  17,759,458                 6,619,313 168.30
Operating Profit                     9,756,921                 3,681,613 165.02
OPEX                     4,716,29                 1,810,562 160.49
DEPRECIATION                     3,556,67                     462,012 669.82
AMORTISATION                                   97                               80 20.37
FINANCE COST                           39,541                       33,934 16.53
NET FINANCE INCOME                        (45,703)                     (54,771) 16.56
PBT                     9,711,218                 3,659,647 165.36
TAX                     2,427,805                 1,056,651 129.76
PAT                     7,283,412                 2,602,995 179.81
TOTAL COMP INCOME                     7,283,412                 2,602,995 179.81
Statement of Financial Position
Current Assets                  23,128,817               15,669,536 47.60
Non Current Assets                333,625,025               14,597,721 2,185.46
Total Assets                356,753,842               30,267,257 1,078.68
Current Liabilities                  13,488,728               10,366,004 30.12
Non Current Liabilities                     2,533,612                 2,886,051 12.21
Total Liabilities                  16,022,340               13,252,055 20.90
Net Assets                340,771,502               17,051,201 1,898.52
Retained Earnings                        228,965               12,776,685 98.21
Shares Outstanding                  13,143,500,966                 1,256,677,766  
Investment/Valuation Ratios
Tickers 2019 2018 %Chg
Price at Released 11.60 31.35 63.00
EPS 0.55 2.07 73.25
TCIP/SHARE 0.55 2.07 73.25
P/E-Ratio 20.93 15.14 38.31
Earnings Yield 4.78% 6.61% 27.70
BV/Share 25.93 13.57 91.08
PBV 0.45 2.31 80.64
CAPEX/SHARE 17.16 271.17 93.67

GLAXO SMITHKLINE
Statement of Comprehensive Income
  2019 2018 %CHG
Turnover                     9,964,484                 8,593,948 15.95
Cost of Sales                     6,542,515                 6,342,817 3.15
Operating Profit                        531,506                     517,223 2.76
OPEX                     2,467,526                 2,456,015 0.47
DEPRECIATION                        169,040                     210,356 19.64
PBT                        531,506                     517,223 2.76
TAX                        159,452                     155,167 2.76
PAT                        372,054                     362,056 2.76
TOTAL COMP INCOME                        372,054                     362,056 2.76
Statement of Financial Position
Current Assets                  13,784,289               14,335,944 3.85
Non Current Assets                     2,279,508                 2,299,691 0.88
Total Assets                  16,063,797               16,635,635 3.44
Current Liabilities                     7,349,814                 8,070,565 8.93
Non Current Liabilities                        107,085                                         –   #DIV/0!
Total Liabilities                     7,456,899                 8,070,565 7.60
Net Assets                     8,606,898                 8,565,070 0.49
Retained Earnings                     7,957,564                 7,915,736 0.53
Shares Outstanding                     1,195,876,488                 1,195,876,488  
Investment/Valuation Ratios
Tickers 2019 2018 %Chg
Price at Released 8.00 17.00 52.94
EPS 0.31 0.30 2.76
TCIP/SHARE 0.31 0.30 2.76
P/E-Ratio 25.71 56.15 54.21
Earnings Yield 3.89% 1.78% 118.37
BV/Share 7.20 7.16 0.49
PBV 1.11 2.37 53.17
CAPEX/SHARE 1.44 7.20 80.03

OANDO
Statement of Comprehensive Income
  2019 (Mill) 2018(Mill) %CHG
Turnover                315,408,564            297,307,627 6.09
Cost of Sales                273,520,244            246,295,318 11.05
Operating Profit                     1,168,340               13,842,852 91.56
OPEX                  53,700,971               32,418,742 65.65
DEPRECIATION                  11,493,573               10,586,601 8.57
FINANCE COST                  21,285,113               21,000,649 1.35
NET FINANCE INCOME                  16,667,997               15,911,662 4.75
PBT                (17,280,809)               (2,262,629) 663.75
TAX                  24,449,451               10,755,789 127.31
PAT                     7,168,642                 8,493,160 15.60
TOTAL COMP INCOME                     4,856,950               14,387,934 66.24
Statement of Financial Position
Current Assets                114,565,459            197,963,742 42.13
Non Current Assets                921,941,256            918,658,071 0.36
Total Assets            1,036,506,715         1,116,621,813 7.17
Current Liabilities                440,478,663            466,158,374 5.51
Non Current Liabilities                312,845,032            376,368,414 16.88
Total Liabilities                753,323,695            842,526,788 10.59
Net Assets                281,973,661            274,095,025 2.87
Retained Earnings              (122,926,124)          (137,743,154) 10.76
Shares Outstanding                  12,431,412,481               12,431,412,481  
Investment/Valuation Ratios
Tickers 2019 2018 %Chg
Price at Released 3.70 4.85 23.71
EPS 0.58 0.68 15.60
TCIP/SHARE 0.39 1.16 66.24
P/E-Ratio 6.42 7.10 9.62
Earnings Yield 15.59% 14.09% 10.64
BV/Share 22.68 22.05 2.87
PBV 0.16 0.22 25.84
CAPEX/SHARE 29.16 22.68 28.57

DANGOTE CEMENT
Statement of Comprehensive Income
  2019(Mill) 2018(Mill) %CHG
Turnover                487,730            482,439 1.10
Cost of Sales                183,172            197,595 7.30
Operating Profit                170,496            200,517 14.97
OPEX                105,290               86,863 21.21
DEPRECIATION                  47,448               45,490 4.30
FINANCE COST                  19,619               21,530 8.88
NET FINANCE INCOME                  15,008               14,979 0.19
PBT                155,488            185,538 16.20
TAX                  36,248               72,374 49.92
PAT                119,242            113,164 5.37
TOTAL COMP INCOME                117,276            125,438 6.51
Statement of Financial Position
Current Assets                374,602            486,021 22.92
Non Current Assets            1,281,829         1,243,254 3.10
Total Assets            1,656,431         1,729,275 4.21
Current Liabilities                498,646            598,915 16.74
Non Current Liabilities                326,544            402,487 18.87
Total Liabilities                825,190         1,001,402 17.60
Net Assets                831,241            727,873 14.20
Retained Earnings                695,547            573,064 21.37
Shares Outstanding                  17,040,507,405               17,040,507,405  
Investment/Valuation Ratios
Tickers 2019 2018 %Chg
Price at Released 170.17 234.70 27.49
EPS 7.00 6.64 5.37
TCIP/SHARE 6.88 7.36 6.51
P/E-Ratio 24.32 35.34 31.19
Earnings Yield 4.11% 2.83% 45.33
BV/Share 48.78 42.71 14.20
PBV 3.49 5.49 36.51
CAPEX/SHARE 72.30 48.78 48.22

NAHCO
Statement of Comprehensive Income
  2019(000) 2018(000) %CHG
Turnover                     4,800,209                 4,643,346 3.38
Cost of Sales                     3,222,671                 3,026,498 6.48
Operating Profit                        591,702                     466,561 26.82
OPEX                     1,090,877                 1,318,663 17.27
DEPRECIATION                        415,733                     394,498 5.38
AMORTISATION                             9,108                         7,528 20.99
FINANCE COST                           73,627                       87,034 15.40
NET FINANCE INCOME                           12,893                       34,415 62.54
PBT                        579,596                     500,976 15.69
TAX                        112,336,                       82,402 36.33
PAT                        467,259                     418,574 11.63
TOTAL COMP INCOME                        467,259                     418,574 11.63
Statement of Financial Position
Current Assets                     7,313,824                 6,190,056 18.15
Non Current Assets                     6,486,919                 7,016,227 7.54
Total Assets                  13,800,743               13,206,283 4.50
Current Liabilities                     6,098,765                 4,395,095 38.76
Non Current Liabilities                        910,879                 1,619,016 43.74
Total Liabilities                     7,009,644                 6,014,111 16.55
Net Assets                     6,791,100                 7,192,172 5.58
Retained Earnings                     4,185,651                 4,590,121 8.81
Shares Outstanding                     1,624,218,750                 1,624,218,750  
Investment/Valuation Ratios
Tickers 2019 2018 %Chg
Price at Released 2.54 4.00 36.50
EPS 0.29 0.26 11.63
TCIP/SHARE 0.29 0.26 11.63
P/E-Ratio 8.83 15.52 43.12
Earnings Yield 11.33% 6.44% 75.80
BV/Share 4.18 4.43 5.58
PBV 0.61 0.90 32.75
CAPEX/SHARE 3.62 4.19 13.53

PORTLAND PAINT
Statement of Comprehensive Income
  2019(000) 2018(000) %CHG
Turnover                     1,358,710                 1,433,277 5.20
Cost of Sales                        853,586                     901,536 5.32
Operating Profit                           89,600                     128,990 30.54
OPEX                        420,085                     455,989 7.87
DEPRECIATION                           32,261                       30,469 5.88
AMORTISATION                             5,347                         5,347 0.00
FINANCE COST                             3,314                         3,726 11.06
NET FINANCE INCOME                             4,918                         2,008 144.92
PBT                           94,518                     130,998 27.85
TAX                           30,246                       41,919 27.85
PAT                           64,272                       89,078 27.85
TOTAL COMP INCOME                           64,272                       80,078 19.74
Statement of Financial Position
Current Assets                     1,884,158                 1,771,205 6.38
Non Current Assets                        540,665                     508,756 6.27
Total Assets                     2,424,823                 2,279,961 6.35
Current Liabilities                        834,170                     775,811 7.52
Non Current Liabilities                           29,071                       22,056 31.81
Total Liabilities                        863,241                     797,867 8.19
Net Assets                     1,561,582                 1,482,094 5.36
Retained Earnings                        635,028                     555,541 14.31
Shares Outstanding                        793,415,535                     793,415,535  
Investment/Valuation Ratios
Tickers 2019 2018 %Chg
Price at Released 2.47 2.05 20.49
EPS 0.08 0.11 27.85
TCIP/SHARE 0.08 0.10 19.74
P/E-Ratio 30.49 18.26 66.99
Earnings Yield 3.28% 5.48% 40.12
BV/Share 1.97 1.87 5.36
PBV 1.25 1.10 14.35
CAPEX/SHARE -0.35 1.97 117.52

UNION BANK
Statement of Comprehensive Income
  2019 (Mill) 2018(Mill) %CHG
GROSS EARNINGS                  76,017               83,333 8.78
INTEREST INCOME                  57,349               62,202 7.80
INTEREST EXPENSES                  31,356               27,856 12.56
NET INTEREST INCOME                  49,146               50,852 3.35
OPEX                  33,775               35,880 5.87
DEPRECIATION                     3,707                 3,328 11.39
PBT                  12,126               11,664 3.96
TAX                        273                     206 32.52
PAT                  11,853               11,458 3.45
TOTAL COMP INCOME                  14,226                 8,648 64.50
Statement of Financial Position
Total Assets            1,713,460         1,471,152 16.47
Total Liabilities            1,474,490         1,180,801 24.87
Net Assets                238,970            290,351 17.70
Retained Earnings                  66,126               76,294 13.33
Total Deposits            1,001,054            918,172 9.03
Total Loans and Advances                526,035            483,779 8.73
Investment/Valuation Ratios
Tickers 2019 2018 %Chg
EPS 0.41 0.39 3.45
TCIP/SHARE 0.49 0.30 64.50
P/E-Ratio 3.96 3.56 11.34
Earnings Yield 6.31% 7.03% 10.19
BV/Share 8.21 9.97 17.70
PBV 0.79 0.56 39.94
CAPEX 0.18 -0.21 184.26

FBNH
Statement of Comprehensive Income
  2019(Mill) 2018(Mill) %CHG
GROSS EARNINGS                149,867            143,422 4.49
INTEREST INCOME                109,732            114,505 4.17
INTEREST EXPENSES                  37,195               40,612 8.41
NET INTEREST INCOME                  20,549               20,050 2.49
OPEX                  69,542               58,354 19.17
DEPRECIATION                     4,876                 3,907 24.80
PBT                  20,566               20,061 2.52
TAX                     4,642                 1,309 254.62
PAT                  15,924               18,708 14.88
TOTAL COMP INCOME                  27,003               11,529 134.22
Statement of Financial Position
Total Assets            5,670,245         5,306,519 6.85
Total Liabilities            5,109,330         4,646,315 9.97
Net Assets                560,917            660,204 15.04
Retained Earnings                  24,280            151,331 83.96
Total Deposits            4,284,513         3,957,388 8.27
Total Loans and Advances            2,701,107         2,715,710 0.54
Investment/Valuation Ratios
Tickers 2019 2018 %Chg
EPS 0.44 0.52 14.88
TCIP/SHARE 0.75 0.32 134.22
P/E-Ratio 5.64 4.80 17.48
Earnings Yield 4.44% 5.21% 14.88
BV/Share 15.63 18.39 15.04
PBV 0.64 0.54 17.70
CAPEX 0.12 -0.22 155.78

Comment here