MARCH ACCOUNTS EARNINGS REPORTING SEASON KICK OFF WITH INTERNATIONAL BREWERY MIXED EARNINGS
The expected earnings release date for companies quoted on the Nigerian Stock Exchange (NSE) has been estimated by Investdata based on their historical report dates. As the market has entered the mid-month of the deadline for submitting audited financials for companies with March 31, 2017 year-end, it is expected that more earnings reports will hit the market going forward in this month of June, July and August. Considering the increasing numbers of companies paying interim dividend, this expectation is likely to add more momentum to the market for Q2 earnings season as investors look forward to cash or scrip dividends from full-year and half-year accounts of companies. This however depends on the strength of the earnings reported. The earliest filer of March year-end account, International Brewery, released its 2017 full-year earnings report to the market on Friday and the numbers posted were mixed with sales revenue for the period growing by 40.58% to N32.77bn, while profi...