August 6, 2020/United Capital Report Recently, Flour Mills of Nigeria (FLOURMIL) released its numbers for the year ended 31st March 2020. The audited reports showed that Revenue grew 8.8% y/y to N573.8bn in FY-2019/20, supported by strong growth in Q4, up 18.6% y/y to N150.3bn. Also, relatively slow growth in […]
Results & Dividends
WAPCO H1-2020 Unaudited Result: Weathering the storm?
August 6, 2020/United Capital Report Recently, Lafarge Africa Plc (WAPCO) released its H1-2020 unaudited financial statement and according to the report Revenue grew by 2.3%y/y during the period. This was despite apparent challenges that characterized Q2-2020 amid the COVID-19 induced lockdown. Herein, we review the H1-2020 performance and updated some of […]
MTN Nigeria Q2 2020 Results Review: Solid Upside Potential Despite Cut to Earnings
Culled—Proshare August 6, 2020 by FBNQuest Research Rolling over to 2021E: price target up 14% MTNN’s Q2 2020 earnings missed our forecasts primarily because of a negative surprise on the revenue line. The weakness was underpinned by a decline in demand for voice services – particularly in the mass market […]
