Culled—Proshare November 16, 2020 by FBNQuest Research Marginal change to average EPS forecast Although Nigerian Breweries’ (NB) 9M 2020 earnings were close to our forecast, its Q3 performance was broadly impressive, given that results for this quarter are typically the weakest within the year. PBT of N2.6bn was the […]
Results & Dividends
Dangote Cement Plc Q3/9M 2020 Results: An All-round Positive Performance
November 11, 2020/InvestmentOne Report · Turnover Performance: up by 25.00% q/q and 34.20% y/y. · Gross margin performance: up by 264bps q/q and 522bps y/y. · OPEX/Sales ratio: down by 216bps q/q and 638bps y/y. · PBT Margin Performance: up by 549bps q/q to 38.34%, from 19.90% in Q3 2019. Dangote Cement […]
Lafarge Africa Q3 2020 Results Review: Moving to Neutral from Outperform
Culled—Proshare November 11, 2020 by FBNQuest Research Solid Q3 y/y sales growth offset by rising business costs Lafarge Africa (Lafarge) posted strong Q3 2020 sales growth of 31% y/y to N59.3bn. Unit volume y/y growth was primarily responsible for the sales improvement (up c.30% y/y to 1.3 million tonnes) as […]
