CUSTODIAN AND ALLIED PLC

FBN HOLDINGS PLC (FBNH)

UNAUDITED 6 MONTHS RESULTS FOR THE PERIOD ENDED 30TH JUNE, 2017

UNAUDITED 6 MONTHS RESULTS FOR THE PERIOD ENDED 30TH JUNE, 2017

Sector:

FINANCIAL SERVICES

Sector:

FINANCIAL SERVICE

Per share Data

Per share Data

Current Price (N)

3.43

Current Price (N)

5.97

52 Weeks High/Low (N)

4.05/3.00

52 Weeks High/Low (N)

7.79/2.95

Shares Outstanding

5,881,864,195

Shares Outstanding

35,895,292,792

Market Capitalisation

20,174,794,188.85

Market Capitalisation

214,294,897,968.24

Period

HY'17

HY'16

% Growth

Period

HY'17

HY'16

Growth (%)

Income Statement

N' Million

N' Million

Income Statement

N' Million

N' Million

Gross Revenue

19,797.99

17,126.02

15.60

Gross Earnings*

288,621.00

267,914.00

7.73

Operating Expenses

(12,797.71)

(11,158.26)

14.69

Interest Income

232,378.00

169,201.00

37.34

Net Fair Value Gains/(Losses)

246.79

178.08

38.58

Interest Expense

(68,293.00)

(43,151.00)

58.27

Net Realised Gains/(Losses)

-

(25.49)

-

Net interest Income

164,085.00

126,050.00

30.17

Management Expenses

(2,521.37)

(2,418.72)

4.24

Impairment Charge for Credit Losses

(62,408.00)

(69,914.00)

-10.74

Finance Costs

-

(70.69)

-

Net Interest Income after Impairment Charge for Credit Losses

101,677.00

56,136.00

81.13

Profit Income before Tax Expense

4,725.70

3,630.95

30.15

Net Insurance Premium Revenue

5,509.00

3,511.00

56.91

Income Tax Expense

(919.83)

(743.80)

23.67

Fee and Commission income

36,762.00

34,709.00

5.91

Profit After Tax

3,805.87

2,887.15

31.82

Fee and Commission Expense

(5,906.00)

(4,654.00)

26.90

Profit Attributable to;

Net Gains on Foreign Exchange

5,008.00

52,914.00

-90.54

Owners of the parent

3,673.21

2,784.27

31.93

Net (Losses)/Gains on Investment Securities

(168.00)

4,991.00

-103.37

Non-controlling interests

132.66

102.88

28.94

Net Gains/(Losses) from Financial Instruments at FVTPL

5,954.00

224.00

2558.04

Balance Sheet

HY'17

HY'16

% Growth

Dividend Income

1,826.00

773.00

136.22

N' Million

N' Million

Other Operating Income

1,352.00

1,591.00

-15.02

Total Assets

75,616.57

62,273.08

21.43

Insurance Claims

(1,547.00)

(1,166.00)

32.68

Total Liabilities

42,649.20

34,412.59

23.93

Personnel Expenses

(42,000.00)

(42,767.00)

-1.79

Total equity

32,967.37

27,860.50

18.33

Depreciation, amortisation and impairment

(7,686.00)

(7,241.00)

6.15

Fundamental Analysis

HY'17

HY'16

% Growth

Operating Expenses

(65,347.00)

(53,135.00)

22.98

Earnings Per Share (EPS) (N)

0.62

0.47

31.93

Operating Profit

35,434.00

45,886.00

-22.78

P.E (x)

5.49

5.47

0.40

Share of loss of associates

194.00

-

-

PBT Margin (%)

23.87%

21.20%

2.67

Profit Before Tax

35,628.00

45,886.00

-22.36

PAT Margin (%)

19.22%

16.86%

2.37

Income Tax Expense

(6,142.00)

(10,031.00)

-38.77

Net Asset Per Share (N)

5.60

4.74

18.33

PROFIT FOR THE PERIOD FROM CONTINUING OPERATIONS

29,486.00

35,855.00

-17.76

ROA%

5.03%

4.64%

0.40

Discontinued operations

ROE %

11.54%

10.36%

1.18

Loss for the period from discontinued operation

(548.00)

-

-

PROFIT FOR THE PERIOD

28,938.00

35,855.00

-19.29

JULIUS BERGER NIGERIA PLC

Profit/(Loss) Attributable to:

UNAUDITED 6 MONTHS RESULTS FOR THE PERIOD ENDED 30TH JUNE, 2017

Owners of the Parent

28,693.00

35,355.00

-18.84

Sector:

CONSTRUCTION

Non-Controlling interests

245.00

500.00

-51.00

Per share Data

Balance Sheet

HY'17

HY'16

% Growth

Current Price (N)

36.00

N' Million

N' Million

52 Weeks High/Low (N)

48.39/32.14

Total Asset

4,881,070.00

4,804,237.00

1.60

Shares Outstanding

1,320,000,000

Total Liabilities

4,271,146.00

4,192,309.00

1.88

Market Capitalisation

47,520,000,000.00

Shareholders' Fund

609,924.00

611,928.00

-0.33

Period

HY'17

HY'16

% Growth

Fundamental Analysis

HY'17

HY'16

% Growth

Income Statement

N' Million

N' Million

Earnings Per Share (EPS) (N)

　　　　　　　　　　　　　　 0.80

　　　　　　　　　　　　　　　　0.98

-18.84

Revenue

69,728.00

47,836.00

45.76

P.E (x)

7.47

6.06

23.22

Cost of Sales

(52,051.95)

(35,398.64)

47.05

PBT Margin (%)

12.34%

17.13%

-4.78

Gross Profit

17,676.05

12,437.36

42.12

PAT Margin (%)

10.22%

13.38%

-3.17

Other Gains and Losses

1,889.19

1,316.16

43.54

Net Asset Per Share (N)

16.99

17.05

-0.33

Marketing Expenses

(17.56)

(39.32)

-55.33

ROA%

0.60%

0.75%

-0.14

Administrative Expenses

(16,348.65)

(6,372.34)

156.56

ROE %

4.83%

5.86%

-1.02

Operating Profit

3,199.03

7,341.86

-56.43

* Computed By　 CBP Research

Foreign Exchange Acquisition Loss

(2,729.68)

(7,005.95)

-61.04

Net Financing Income/(Cost)

(413.57)

(63.75)

548.78

(Loss)/Profit Before Tax

55.78

272.16

-79.50

Income Tax Expense

(420.51)

(136.08)

209.01

(Loss)/Profit After Taxation

(364.73)

136.08

-368.02

Other Comprehensive Income for the Year Net of Taxes:

Actuarial Gains/(Losses) on Retirement Benefits

-

(58.19)

-

Exchange Differences on Translating Foreign Operations

508.50

49.12

935.18

Total Comprehensive Income

143.77

127.02

13.19

Balance Sheet

HY'17

HY'16

% Growth

N' Million

N' Million

Total Asset

242,053.38

242,876.20

-0.34

Total Liabilities

216,593.30

220,437.23

-1.74

Shareholders' Fund

25,460.09

22,438.98

13.46

Fundamental analysis

HY'17

HY'16

% Growth

Basic Earnings Per Share (EPS) (N)

0.11

0.10

13.19

P.E (x)

330.53

374.12

-11.65

PBT Margin (%)

0.08%

0.57%

-0.49

PAT Margin (%)

-0.52%

0.28%

-0.81

Net Asset Per Share (N)

19.29

17.00

13.46

ROA%

-0.15%

0.06%

-0.21

ROE %

-1.43%

0.61%

-2.04