October 26, 2018/Cordros Report Update: We resume coverage of ZENITHBANK with a BUY rating, following the bank’s impressive Q3 performance. Our positive outlook for the group’s 2018FY earnings is hinged on (1) lower cost of funds and (2) lower impairment charges. On the flip side, declines across major revenue lines, […]
Results & Dividends
Earnings Update: Disappointing Consumer Goods Results
October 26, 2018/Cordros Update Update – disappointing results released by big-name consumer goods companies yesterday might spark sell-off today. See highlights below:
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 […]
