January 25, 2021/Cordros Report UNILEVER published its Q4-20 and 2020FY unaudited results after market close on Friday (22 January) with revised 2019 numbers. EPS turned positive in Q4-20 standalone, printing NGN0.08 (Q4-19: -NGN0.83) following significant revenue growth, gross margin expansion and lower operating expenses. For 2020FY, the company recorded […]
Results & Dividends
UBA Q3 ’20 Results Review: Reiterating Outperform Rating on Solid Q3 Results
December 9, 2020/Proshare By FBNQuest Research Material increase to our price target due to cut to risk-free rate UBA’s management has not provided ROAE guidance for FY ’20. However, following its Q3 ’20 results which surprised positively relative to our forecasts, […]
FCMB Group Q3 2020 Results Review: ROAE Still Hovering Around 10%
December 4, 2020/Proshare by FBNQuest Research Material increase to price target due to cut to risk-free rate FCMB’s Q3 ’20 PBT grew strongly y/y and came in c.5% higher than our forecast. However, PAT missed by a wide margin because of a negative result of c.-NGN4bn in other comprehensive income […]
