{"id":1833,"date":"2014-08-11T16:31:58","date_gmt":"2014-08-11T15:31:58","guid":{"rendered":"http:\/\/www.ijg-research.net\/?p=1833"},"modified":"2014-08-11T16:48:23","modified_gmt":"2014-08-11T15:48:23","slug":"fnb-namibia-fy15-trading-statement","status":"publish","type":"post","link":"https:\/\/ijg.net\/research\/fnb-namibia-fy15-trading-statement\/","title":{"rendered":"FNB Namibia FY14 Trading Statement"},"content":{"rendered":"<p>FNB Namibia today released a trading statement in which the company gave guidance as to what we can expect from the FY14 financial year. Results are expected to be released on SENS on 4\u00a0September 2014 and in the press on 5 September 2014. Guidance is as follows:<\/p>\n<p style=\"text-align: left;\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 FNB Guidance\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 IJG Forecast<\/p>\n<ul>\n<li style=\"text-align: left;\">Profit after tax\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0 \u00a0 +25% to 30%\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 22.6%<\/li>\n<li style=\"text-align: left;\">Basic and Headline EPS\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 +25% to 30%\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 23.3%<\/li>\n<\/ul>\n<p>Our forecast for HEPS is 1.7ppt below the lower end of the guidance range, thus implying a slight beat and a positive surprise by FNB. The 25% to 30% range suggests HEPS of between 289cps and 300cps relative to IJG\u2019s projected HEPS of 285cps. The range is also a positive surprise when compared to Bloomberg Consensus forecast that is projecting HEPS of 278cps.<\/p>\n<p>At first glance we are optimistic about the guidance and continue to recommend a\u00a0<strong>BUY<\/strong>\u00a0on the stock.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>FNB Namibia today released a trading statement in which the company gave guidance as to what we can expect from the FY14 financial year. Results are expected to be released on SENS on 4\u00a0September 2014 and in the press on 5 September 2014. Guidance is as follows: \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 FNB Guidance\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u2026 <a class=\"continue-reading-link\" href=\"https:\/\/ijg.net\/research\/fnb-namibia-fy15-trading-statement\/\"> Continue reading <span class=\"meta-nav\">&rarr; <\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-1833","post","type-post","status-publish","format-standard","hentry","category-teamcommentary"],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/1833","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/comments?post=1833"}],"version-history":[{"count":6,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/1833\/revisions"}],"predecessor-version":[{"id":1839,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/1833\/revisions\/1839"}],"wp:attachment":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/media?parent=1833"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/categories?post=1833"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/tags?post=1833"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}