October 26, 2018/Cordros Update Update – disappointing results released by big-name consumer goods companies yesterday might spark sell-off today. See highlights below:
Results & Dividends
Total Nigeria Plc: Positive Product Mix Shift Drives Higher Earnings
October 26, 2018/Cordros Report TOTAL recently published 9M-2018 results, showing top-line grew 2.6% y/y to NGN226.91 billion, while net profit climbed 28.7% to NGN7.67 billion, translating to an EPS of NGN22.58 (9M-17: NGN17.54). Improvement in revenue was underpinned by increases in sales from the Aviation (+64.2% y/y) and General Trade […]
Dangote Cement: Still Strong, Even As We Look for Lower Volume Growth
October 26, 2018/Cordros Update Update: Following the September 30 result wherein sales volume in Q3 was lower than our expectation, we revise our 2018E EBITDA and PBT estimates for DANGCEM lower by 6% and 11% respectively to NGN444 billion and NGN300.7 billion. Our new estimates are now higher by 14% […]
