Culled—Proshare June 3, 2020 by FBNQuest Research -25% cut to our 2020-21E EPS forecasts Lafarge Africa’s (Lafarge) Q1 2020 earnings of N8.1bn improved 215% y/y. The primary drivers were a -65% y/y decline in net finance charges following the firm’s deleveraging off its balance sheet via a N90bn rights issue […]
Results & Dividends
Presco Plc FY 2019 and Q1 2020 Results – Earnings Decline on Revenue and Finance Cost Pressures
Culled—Proshare June 2, 2020 By CardinalStone Research Presco Plc (PRESCO) recently published its FY’19 (audited) and Q1’20 results. The company recorded PAT declines in FY’19 (-10.4% YoY) and Q1’20 (-15.9% YoY). Following the release of the FY’19 result, the company declared a dividend of N2.00 per share (implied dividend yield […]
Nestle Nigeria Maintained Outperform Rating in Q1 2020 Despite Cut to PT
Culled—-Proshare June 2, 2020 By FBNQuest Research -13% average cut to 2020-22E EPS forecasts Nestle Nigeria’s (Nestle) underlying performance for Q1 2020 fell slightly behind expectations with PBT missing by -5%. PAT missed by -13% because of a -14% negative surprise in tax charges. Despite a -9% y/y decline […]
