August 24, 2021/Coronation Research As fixed income yields tighten the dividend yields of some of the largest stocks listed on the NGX Exchange are beginning to look juicy. From our own brokerage activity, we are aware of how investors appreciate dividend yields. So, the question is as follows. Could one […]
Results & Dividends
UAC of Nigeria Q2 2021 Results Review: Cost Pressure is a Concern; Neutral Rating Maintained
August 18, 2021/Proshare by FBNQuest Research Earnings miss in Q2’21 induces a 15.0% & 16.1% cut to EPS and price target respectively UACN’s EPS in Q2’21 missed our forecast by 89.3%. While, the company’s Q2’21 turnover of NGN24.5bn (+43.3% y/y) was ahead of our forecast by 16.7%, PAT came in […]
Lafarge Africa Q2 2021 Results Review: Upgraded to Outperform from Neutral
August 17, 2021/Proshare by FBNQuest Research EPS over the ’21-23f period up by around 34% Lafarge delivered a strong Q2 ’21 performance. Earnings were up 26% y/y to N19.2bn. While unit volumes were up by double-digits y/y to c.1.6 million metric tonnes (mmt) during the period, we estimate that […]
