November 3, 2020/Cowry Asset Report With this publication, we have initiated coverage on Fidelity Bank plc to review its past performance and to give guidance on the future of the company. Fidelity Bank Plc boosted its profitability in H1 2020 on the back of lower cost of funds, gains from […]

Culled—-Proshare November 2, 2020 by FBNQuest Research Negligible changes to our 2020-21E EPS forecasts We are encouraged to see that MTN Nigeria’s (MTNN) Q3 2020 results are pointing in the right direction despite cost pressures arising from fx-linked costs (mainly lease rentals) and the 2.5% increase in VAT. After slowing […]

November 2, 2020/Cordros Report Lafarge Africa’s 9M-20 report result showed that EPS settled at NGN1.75/share, up 37.1% y/y after adjusting for gains from discontinued operation in 9M-19. The growth in bottom line was supported by an increase in revenue and deceleration in finance cost, both of which outweighed the substantial […]