March 8, 2024/CSL Research Airtel Africa’s topline performance was impacted by a decline in voice revenues (down 8.8% to US$1.7bn) despite increases in mobile revenue (up 22.4% y/y to US$631m) and data revenue (+1.9% y/y to US$1.34bn). The company’s bottom line performance was significantly impacted by FX losses, which resulted […]

FSDH Initial Reaction: Nascon FY23 results  Kindly click here to download the report. March 6, 2024/FSDH Research Key Performance Highlights: After reporting blockbuster results in 9M23 (Revenue: +45.6% YoY, Profit: +282.6% YoY), Nascon reported 19.5% YoY revenue growth and +5.1% YoY net profit growth in 4Q23. Nascon Allied Industries posted […]

March 5, 2024/Cordros Report EQUITIES The Nigerian equities market extended yesterday’s positive sentiment following bargain hunting in FBNH (+9.9%) and TRANSCORP (+10.0%). Specifically, the All-Share Index notched a 0.4% gain to close at 99,190.46 points. Consequently, the Month-to-Date and Year-to-Date returns settled at -0.8% and +32.7%, respectively. The total volume […]