April 30, 2024/Cordros Report MTN Nigeria Communications Plc (MTNN) released its Q1-24 unaudited results yesterday, reporting a loss per share of NGN18.63 (vs EPS of NGN5.13 in Q1-23). The dip in earnings was underpinned by the marked expansion in net FX losses (NGN656.37 billion vs NGN4.50 billion in Q1-23), highlighting […]
Results & Dividends
NASCON Allied Industries Plc Q1-24: Net FX Losses Wipe Out Topline Gains
April 30, 2024/CSL Research NASCON Allied Industries Plc (NASCON) published its Q1-24 unaudited financials earlier today, in which the company reported a 25.0% y/y decline in EPS to NGN0.47 (Q1-23: NGN0.62), following a net FX loss of NGN3.06 billion. Revenue rose by 39.7% y/y in Q1-24. We think the topline […]
UACN Plc Q1’24: Significant FX Gains Boost Bottom-Line
April 30, 2024/CSL Research In its 2024 unaudited financial results, UAC of Nigeria Plc’s (UACN) Revenue increased to N40.56bn (+64.7% y/y) from N24.60bn in Q1 2023. On a q/q basis, the Revenue was up by 4.0% from N39.00bn in Q4 2023. The uptick in the company’s Revenue was largely buoyed […]
