In Your Interest
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 […]
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 – […]
Culled—Proshare 24/4/2019/ ARM Research Solid outing to the year After a very weak Q4 performance which dragged overall full year earnings, UBA Plc posted strong recovery in Q1 2019, showing improvement across income lines. Particularly, the bank recorded material growth in non-interest revenue (+72% QoQ), following sturdy growth in net […]