April 30, 2021/Cordros Report Event: WAPCO published Q1-2021 unaudited financials yesterday. The result showed that Profit After Tax grew 13.3% y/y to NGN9.14 billion while EPS settled at NGN0.57/share (+13.3% y/y). The double-digit growth in EPS was driven by topline growth (+12.2% y/y), the decline of 16.3% y/y in operating […]
Results & Dividends
Access Bank Plc Q1-21: Funded Income Growth & Improved Efficiency Propel Performance
April 30, 2021/Cordros Report ACCESS released its Q1-21 financial report yesterday, which showed that the bank recorded good growth in earnings supported by core earnings. This is a deviation from the pattern witnessed thus far across Tier-1 banks, where non-core earnings have supported performances, while funded income has been relatively […]
International Breweries FY-2020 Earnings Update – High operating leverage undermines capital restructuring gains
April 30, 2021/United Capital Research Recently, International Breweries Plc (INTBREW) published its audited FY-2020 financial result. According to the report, Revenue rose by 3.4% y/y to N136.8bn, as strong Revenue recovery in H2-2020 pulled Revenue numbers higher, reflecting the impacted of reduced restrictions on on-trade channels and social activities. Nevertheless, […]
