May 29, 2020/InvestmentOne Report ·         Turnover Performance: up by 17.61% q/q and 3.76% y/y. ·         Gross margin performance: up by 60bps q/q, down 44bps y/y. ·         OPEX/Sales ratio: down by 393bps q/q and 25bps y/y. ·         PBT Margin Performance: rose to 35.34% from 24.92% in Q4 2019 and 32.88% in Q1 2019.  […]

Culled—Proshare May 29, 2020 by FBNQuest Research Tangible cuts to our 2020E EPS forecasts and price target After delivering a stellar ROAE of c.23.4% in 2019, we expect UBA’s ROAE to decline to 12.1% in 2020E. Management has not provided guidance for 2020E. However, we have cut our 2020E EPS […]

May 29, 2020/Cordros Report DANGCEM’s Q1-20 sales were higher (+3.8% y/y), supported by higher prices, but volume declined slightly, mostly on account of the COVID-19 outbreak, which impacted the company’s Pan African operations (-2.9% y/y). Given the blend of economic challenges, stronger competitive landscape, and geometrically rising cases of the […]