Wealth With Prosperity

FirstHoldCo: profit up 65%. Price down 19% in two sessions. Both are true. I use 9M results from Stanbic, Zenith, Seplat, Dangote Cement and HBM to show how I read them. Numbers first. Then the price. Keep both in view. 👇🏾

The index moved 0.02% yesterday. Basically flat. Underneath, it was not 👇🏾 * Oil & Gas −3.75% * Banking −1.79% * Industrial Goods +3.34% Twice as many stocks fell as rose. A flat headline can hide a lot of movement. Look inside before you read the number.

My Polaris Bank account is still restricted, and I need help from @PolarisBankLtd Since I started the verification process, I have: * Submitted every form they asked for * Completed two video validations * Received their staff at my residential address in Nigeria I now get another request: a court affidavit over a phone number that is the same on my BVN and on their form. Dividends from Zenith Bank and GTCO have already landed in this account, and I cannot reach any of it. I have written to the Yes Center. I am asking Polaris Bank to look into this and give me a clear answer. 🙏🏾

Same results season, five lessons. → Same profit growth, different mix → Look below the headline line → Check the currency → Don’t stop at nine months → Results are not the price Full article, with the numbers behind each one 👇🏾 teapawt.org/WealthWithPro/status/2…

I started investing on the NGX late. November 2025 But before that I did one thing that’s helping me now Land first. Then the house. I finished building in 2024 and moved in. Got married that December That means no rent to pay. So I made myself a promise: the rent I would have paid each year goes into investing No pressure. No chasing. Just steady Late start. Solid base.

Tomorrow I'm publishing an article on what 9M results season taught me One example: FirstHoldCo's profit rose 65% and its price fell 19% in two sessions Same company. Same week. I break down how to read results, and why the headline and the price don't always agree, with real cases: Stanbic IBTC, Seplat, Zenith, Dangote Cement and HBM Monday. I'll pin it to my profile.

9M results season is done. 5 things it taught me 1️⃣ Same profit, different mix Stanbic IBTC: net interest income −14.9%, trading revenue ₦23.86bn → ₦210.13bn 2️⃣ Good results ≠ rising price FirstHoldCo: profit +65%, price −19% in two sessions 3️⃣ Check the currency Seplat: profit +174% in dollars, about +143% in naira 4️⃣ Read the tax line Zenith: profit before tax +1.2%, profit after tax −11.6% 5️⃣ The latest quarter matters HBM Nigeria: nine-month profit +31%, Q3 alone −15% Headlines are one number. The story is in the lines around it. Full breakdown on Monday.

Zenith Bank 9M: PBT up 1.2%, PAT down 11.6% Wait… how did that happen? The tax bill tells part of the story • Tax expense jumped to ₦253bn from ₦153.2bn. • Effective tax rate rose to ~27% from ~17%. But don't stop there: • Trading income swung from a ₦277.7bn gain to a ₦229.2bn loss. • Impairments dropped to ₦230.8bn from ₦782.8bn. So, there's more to this result than the headline numbers suggest. Investors, don't just read the profit. Follow the lines behind it.

Seplat’s 9M profit jumped 174% But measured in naira, the growth is closer to 143% How can both be true? Seplat reports in US dollars. With the naira strengthening, each dollar converts into fewer naira. Same company. Same results. Different currency lens. The lesson? Before celebrating a profit growth figure, check the currency behind it.

Profit up 65% and the price fell 19% in two sessions FirstHoldCo 9M: profit after tax +65% to ₦744.45bn Price: ₦155.00 → ₦125.55 in two sessions. Both days hit the 10% limit Same company. Strong results. Falling price. Nairametrics puts it down to profit-taking in financials. The stock had also risen 7.56% on Monday, before the selling started Results tell you how the business did. The price tells you what people are doing with the stock. They don’t always agree.

Is that dividend safe? Check the cover! Dividend cover = Earnings per share (EPS) ÷ Dividend per share (DPS) Example: A company earns ₦10/share and pays ₦5 in dividends. Cover = 2x. * Above 1x: Earnings cover the dividend. * Around 1x: Little room for a profit dip. * Below 1x: Earnings fall short; reserves or borrowing may be needed. A juicy yield means little if earnings can't sustain it. Before you chase the yield, check the cover.

Honest update I'm stepping back from X a little Not quitting. Not disappearing. Investing runs on funding. No new money in, nothing new to invest So I'm putting more hours into building extra income streams. The portfolio only grows as fast as the funding behind it. Fewer posts. Same plan. Still holding for the long run Back soon with a bigger war chest

Two banks, one pattern FirstHoldCo 9M * PAT ₦744.45bn → +65% * Non-interest income +125% to ₦773.56bn Stanbic IBTC 9M * PAT ₦370.36bn → +33% * Net interest income −14.9% to ₦379.79bn Both grew profit. Neither grew it from lending Interest income is softening. Fees and trading are carrying the load That's why I read the mix before I celebrate the headline.

ASI +1.65% yesterday, market cap ₦163.16tn Now look at who did it * Dangote Cement +10% (hit the limit) * Industrial Index +5.37% * Banking Index +2.34% Dangote Cement's move alone added roughly ₦1.9tn of the ₦2.64tn gain So "the market is up" and "most stocks are up" aren't the same sentence Before I read a green day as broad strength, I check how many names carried it. The index shows the weight. Breadth shows the mood.

Results season is when I do less reacting and more reading Filings keep landing till the Oct 30 deadline. For each one I’m checking: * Profit: up or down * Source: core business or one-offs * Dividend: any signal in the notes A price moves in a day. Business quality shows in the numbers Early on reading beats fast on reacting.

Profit up 33%, but profit isn't what you own You own shares. So the number that matters is EPS Stanbic IBTC 9M: → Profit after tax up 33% → EPS ₦23.03 vs ₦17.31 → also about +33% When EPS grows in line with profit, the share count hasn't diluted your slice When profit grows but EPS lags, new shares were issued and the cake got cut into more pieces Headline profit tells you how the company did. EPS tells you what that means per share you hold.

Stanbic IBTC's 9-month results are out. I hold it Profit after tax +33% to ₦370.36bn. EPS ₦23.03 vs ₦17.31. The number people skip: net interest income FELL 14.9% (₦446.5bn → ₦379.8bn). Trading revenue went from ₦23.9bn to ₦210.1bn, and that did most of the lifting. Earnings are up. Where they came from is what I'm reading.