April 25, 2019/Cordros Report Event: NB published Q1-19 results after close of market yesterday, with EPS decline of 21.3% y/y, despite growing revenue. EPS was impacted by gross margin decline, as well as higher operating expenditure and net finance costs. Noteworthy, however, both the achieved revenue and earnings slightly beat […]
Results & Dividends
CCNN: Volume Growth Supports Net Profit Expansion
April 25, 2019/Cordros Report Event: CCNN published Q1-19 results after close of market yesterday, showing net profit expanded by 235.6% y/y. Net profit was supported by surge in gross profit (+239.7% y/y), which neutered expansions in OPEX (+172.5% y/y), net finance charges (+37% y/y), and effective tax. However, on account of […]
UACN Q4 2018 Results Review: Headwinds Still Gaining Momentum
Culled—Proshare 24/4/2019/ FBNQuest Research Slight cut to 2019-21E EPS forecasts Following UACN’s earnings conference call, we have made slight downward adjustments to our 2019-21E forecasts, despite the new management’s assurance that things are turning around for the better. Although large impairments taken on real estate investments in 2018 – […]
