September 17, 2021/Proshare by FBNQuest Research 22% increase to our EPS forecasts over the 22-23f period Guinness surprised negatively in Q4 ’21 (end-June). Against our expectation, the bottom-line came in at a loss of -NGN583m vs. our NGN644m estimate. Nonetheless, sales of NGN45.5bn beat our forecast by a significant 33.5%, […]

September 17, 2021/United Capital Research Please click here to download the full report BUA Cement Plc (“BUACEMENT” or “The Group”) recently reported its financials for H1-2021 which showed a 26.9% y/y and 24.6% y/y growth in PBT and PAT to N49.7bn and N43.4bn, respectively. This was largely supported by strong […]

September 16, 2021/United Capital Research Please click here to download the full report Earlier, major indigenous upstream player, Seplat (‘SEPLAT’ or ‘The Company’) released its H1-2021 financials, which showed a 32.1% y/y and a 404.4% y/y increase in topline and bottomline to close at $303.8m and $36.1m, respectively. The strong […]