May 20, 2020/InvestmentOne Report Turnover: up 27.54% q/q, 9.79% y/y. · Gross margin performance: rose to 27.67% from 9.37% in Q4 2019; down from 30.32% in Q1 2019. · OPEX/Sales ratio: down to 9.28% from 12.86% in Q4 2019 and 10.63% in Q1 2019. · PBT Margin: rose to 14.73% […]
Results & Dividends
BUA Cement Plc 2019FY: Three Is a Crowd; Not for Nigerian Cement Market
May 20, 2020/Cordros Report BUA Cement published 2019FY audited financials after the close of market yesterday, which showed that the company recorded a 2019FY EPS decline of 5.3% y/y to NGN1.79/s, mostly on input cost pressure as well as a tax charge incurred over 2019FY (vs. a deferred tax credit […]
Lafarge Africa Plc Q1-20 Update: Strong Start to the Year, But Risks Abound
May 20, 2020/Cordros Report In our last update “See report: Focus on Nigeria Makes for Less Distraction”, we had stated that the negative impact of COVID-19 on WAPCO’s volume growth will be a lot more evident on earnings from Q2-20. Our prognosis was largely hinged on management’s guidance that volume […]
