April 25, 2024/CSL Research Lafarge Africa reported Revenue growth of 8.6% y/y to N405.50bn for FY 2023 from N373.25bn in the prior period (FY 2022). Similarly, on a q/q basis, Revenue was up by 27.4% to N116.42bn in Q4 2023 from N91.40bn in Q3 2023. The broad-based growth in cement […]

April 25, 2024/CSL Research BUA Cement’s +27.4% y/y Revenue growth in 2023 was primarily driven by upward increases in both price and sales volumes. BUA Cement reported price increases in 2023 with average cement price rising by 18.7% to N68,293/ton from N57,511/ton, in 2022, while sales volumes closed 2023 at […]

April 23, 2024/Cordros Report This report provides our updated view of Unilever Nigeria Plc (UNILEVER) for 2024E. While UNILEVER reported strong topline growth (+57.8% y/y) in Q1-24, elevated cost pressures and higher operating expenses derailed gains from improved revenue, leading to significant contractions in gross (-571bps to 41.8%) and operating […]