September 3, 2021/United Capital Research Please click here to download the full report Major downstream player ARDOVA (“the company or the firm” from henceforth) released its unaudited financial result for H1-2021. It was evident to note, that the rebound in economic activities and improved margin efficiency drove double-digit y/y bottomline […]
Results & Dividends
Earnings Update: Unilever Nigeria Plc H1-2021 Unaudited Financial Result: Out of the woods?
September 3, 2021/United Capital Report Please click here to download the full report Recently, Unilever Nigeria Plc (“UNILEVER” or “the company”) published its Unaudited H1-2021 financial result. According to the report, Revenue grew strongly in H1-2021, up by 43.2% y/y to N39.2bn from N27.3bn in H1-2020. Similarly, Q2-2021 Revenue performance […]
Zenith Bank Q2 2021 Results Review: Retaining Outperform Rating Despite Cut to Price Target
September 2, 2021/Proshare FBNQuest Research 3% reduction to our price target Although Zenith Bank’s Q2 ’21 results were broadly in line with our forecasts, we have cut our FY ’21f EPS forecast by -6% to reflect the subdued interest rate environment. Following lower asset yields, interest income from T-bills and […]
