October 19, 2018/Cordros Report LAFARGE published 9M-18 results this week, with higher-than-expected after tax loss in Q3-18. We have increased our loss after tax estimate for 2018E to NGN9.12 billion (from NGN4 billion) to adjust for the miss in Q3, and as we look for lower net profit in Q4 […]
Results & Dividends
Lafarge Africa Q3 2018 Initial Impression: Finance Cost Continues to Weaken Profit Performance
October 18, 2018/InvestmentOne Report § Mixed Turnover: down 11.81% q/q, up 4.62% y/y § Mixed Opex/sales ratio: up 651 bps q/q, down 18 bps y/y. § Mixed gross margin performance: down 188 bps q/q, up 423 bps y/y. § Mixed Net Finance Cost: down 20% q/q, up 47% y/y. Lafarge […]
ZENITHBANK Impressive Q3-18 Result, with Boost from Tax Credit
October 18, 2018/Cordros Report ZENITHBANK just published September 2018 results, with EPS growth of 16% y/y and 80% q/q to NGN1.99 in Q3-18. In the 9 months of the year, the bank’s profit has grown by 12% y/y to NGN144.18 bn. The 1% y/y uptick in Q3-18’s gross earnings was […]
