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 […]

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 […]

August 17, 2021/Coronation Research For the past 10 weeks we have documented the flow of liquidity back into the Nigerian Treasury Bill (T-bil) and FGN bond markets, and the resulting fall in yields. Yet inflation has not fallen as quickly, and so stays well ahead of the yields available on […]