May 9, 2024/CSL Research Airtel Africa’s FY 2024 financials showed a decline in Revenue by 5.3% to US$4.98bn from US$5.26bn in FY 2023. On a q/q basis, Total Revenue declined by 9.7% to US$1.12bn in Q4 2024 from US$1.24bn in Q3 2024. The company attributed the decline in Revenue to […]
Results & Dividends
BUA Cement Plc Q1-24: Cost Pressures Compel TP Revision
May 9, 2024/Cordros Report We update our views on BUACEMENT in this report, accounting for the performance witnessed in the first quarter of the year. BUACEMENT’s revenue grew by 51.5% y/y in Q1-24, which we believe was driven by volume growth and likely price increases. However, we note that heightened […]
NASCON Allied Industries Plc Q1-24: Navigating Currency Volatility and Rising Costs
May 8, 2024/Cordros Report In this report, we update our views on NASCON Allied Industries Plc (NASCON) for 2024E. Despite robust top-line growth (+39.5% y/y), earnings declined (-25.0% y/y to NGN1.23 billion) due to a significant net FX loss (NGN3.06 billion: Q1-23: Nil) and higher operating expenses (+43.3% y/y to […]
