FORTE OIL 2014 Q1 RESULT

             Forte Oil 2014 Q1 Result

              Forte oil has picked up from where it stopped in 2013, touted as the most turn around company on the Nigeria stock exchange in 2013 due to improved business performance, astronomical share price appreciation, early flying of 2013 financial performance and paying an impressive dividend of N4 which amounts to 93% payout from the company EPS. The company has kept up with it trends by releasing an impressive 2014 Q1 result which shows both top-line and bottom-line improving respectively.

        Forte oil has continued with its transformation, recording an enormous 2014Q1 QoQ growth from topline to bottom line. Revenue grew by 30% from 26bill to 34bill while PAT also grew by 108% from 529mill to 1bill on QoQ basis.

      The EPS of the company grew by 109% on a QoQ basis.

      However as peculiar to the sector the company found itself, despite growth in the profit after tax, the profit margin of the company stood at a meager 3.2% while the return on equity stood at 2.8%.

      The company has a PE of 146.7 with an estimated 2014FY PE of 36.57 which makes the company look expensive, however the high PE could also represent investors anticipation of further growth in the company fortune as the share price has appreciated from N101 to a 52wks high of N150 in the last one month.

Questions and comment will be highly welcomed.

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FCMB posts 14% increase in 2014 Q1 PAT.

FCMB posts 14% increase in 2014 Q1 PAT.

        With the effect of the increase in cash reserve ratio for public funds held by banks biting hard on their revenue, FCMB reported a meager 7% increases in it GROSS EARNINGS on a QoQ basis. The bank was however able to make a 25% increase in its NET INTEREST INCOME due to well managed interest expenses.

      The bank also reported a 15% and 14% increases in its PBT and PAT respectively while its Q1 EPS improve slightly from 0.21k to 0.24k.

     The bank was able to manage its operating expenses but performed poorly in it loan losses which increased from 410mill to 1305bill representing 218% change on a QoQ basis.

      With a Q1 EPS of 0.24k ,PE of 14.07 and 2014 FY estimated EPS of 0.97k and PE of 3.52 coupled with a Book value of N7.51 makes FCMB to be in my STRONG WATCH view.

WELCOME to 1himself BLOG: Sterling Bank Quarter 1 (Q1) 2014 financial result...

WELCOME to 1himself BLOG: Sterling Bank Quarter 1 (Q1) 2014 financial result...: Sterling Bank Quarter 1 (Q1) 2104 financial result. After posting an impressive 2013 financial result backed up with a divi...

Sterling Bank Quarter 1 (Q1) 2014 financial result.

Sterling Bank Quarter 1 (Q1) 2014 financial result.

After posting an impressive 2013 financial result backed up with a dividend yield that is above the banking industry average on the Nigerian stock exchange, Sterling bank has released it 2014 Q1 result which is also not far from a sterling performance.

After posting an impressive 2013 financial result with a dividend yield that is above the banking industry average on the Nigerian stock exchange, Sterling bank has released it 2014 Q1 result which is also not far from a sterling performance.

                ·         An impressive increase in its Interest income with a corresponding marginal increase in interest expenses results to the bank having an encouraging 58.14% increase in Net Interest income on a QoQ basis

                 ·         Operating Income was also seen to have increased by 35% on a QoQ basis

                 

                 ·         The bank PBT and PAT also increased on a QoQ basis by 17% and 15% respectively.

                 ·         The bank EPS was however down by 17% due to the increase in the bank Outstanding shares from 16bill in Q1, 2013 to 22bill in Q1 2014 due to its recent right issue.

     

                ·         It should also be noted that what would have been a more robust bottom line performance was marred by an upsurge in the bank loan loss and operating expenses.

         With a Q1 EPS of .15k, 2014 FY estimated EPS and PE of .58k and 4 respectively makes STERLING BANK a company to be listed under my STRONG WATCH view.

The above inferences represent my personal feelings and should therefore not be relied upon in making investing decision.

Twitter - @1himself