Culled—Proshare December 2, 2019 CardinalStone Research FCMB Group Plc (FCMB: TP 1.80 – HOLD) reported a 5.3% YoY decline in EPS to N0.54 for 9M’19 in its latest filing with the Nigerian Stock Exchange (NSE). The decline in earnings reflected significantly lower FX gains amidst a 19.3% YoY jump in […]
Results & Dividends
Dangote Cement Q3 2019 Results Review: Shares Oversold At Current Levels
Culled—Proshare November 29, 2019 By FBNQuest Research Single-digit cuts to our 2019-21E EPS forecasts Dangote Cement’s (DangCem) Q3 2019 PBT missed our forecast by a significant margin due to negative surprises in gross margin, opex and interest expense. From an earnings standpoint, the company’s Q3 PBT of N42.2bn is the […]
UAC of Nigeria Q3 2019 Results Review: Earnings Boosted By Business Repositioning
Culled—Proshare November 29, 2019 By FBNQuest Research Marked increases to earnings forecasts UACN’s Q3 2019 PBT beat our forecast by 87%, thanks to robust non-operating gains from other ancillary segments, and management’s restructuring exercise which we had not yet modelled. Post-restructuring, the loss-making real estate business – which recorded a […]
