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 […]
Results & Dividends
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 […]
Flour Mills of Nigeria Q2 2021 Results Review: Robust Performance Justifies Outperform Rating
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 […]
