Culled—-Proshare August 14, 2020 by FBNQuest Research Slight increases to average earnings forecasts Dangote Sugar Refinery’s (DSR) Q2 2020 results indicate that topline was driven more by pricing than volumes, which were up 8% y/y compared with naira sales growth of 32% y/y. That said, the price increases effected were […]

August 13, 2020/InvestmentOne Report ·         Turnover: down 12.37% q/q, up 1.21% y/y. ·         Gross margin performance: up 167bps q/q, down 256bps y/y. ·         OPEX/Sales ratio: up 89bps q/q, 47bps y/y. ·         PBT Margin: up 261bps q/q, 82bps y/y.  BUA Cement published its Q2 2020 results displaying a flattish performance in […]

Culled—Proshare August 10, 2020 by FBNQuest Research -14% cut to average EPS estimates over the 2020-22E period Nigerian Breweries’ (NB) Q2 results show a PBT decline of -99% y/y, marking the worst second-quarter performance since as far back as we can track. The PBT was also significantly behind our forecast […]