Culled—Proshare November 9, 2020 by FBNQuest Research 33% increase to average EPS forecast Flour Mills of Nigeria’s (FMN) sales surged 47% y/y to an all-time high of N201bn in Q2 2021 (end-Sep). In terms of profitability, the company is on track to deliver its best fiscal-year performance. Topline for […]
Results & Dividends
Dangote Cement Plc: Robust Q3 earnings provides springboard for a strong 9M 2020 performance
November 6, 2020/Cordros Report Event: DANGCEM published Q3-20 audited financials after the close of market today. Q3 EPS more than doubled to N4.80 (+129.9% y/y) underpinned by solid revenue growth and foreign exchange gains, despite the surge in tax charge (NGN26.6bn in Q3-20 vs NGN7.1bn in Q3-19). The robust growth […]
Okomu Oil Q3 2020 Results Review: Fundamentals Strong Despite Near Term Softness
Culled—-Proshare November 6, 2020 By FBNQuest Research Palm oil sales declines y/y on seasonal trends Okomu Oil’s (Okomu) Q3 2020 earnings fell -37% y/y to N922m. The drivers behind this were a sales decline of -27% y/y to N5.1bn and gross margin contraction of around -1,362bps y/y to 78.9%. Palm […]
