Culled—Proshare July 26, 2018/ARM Research Dangote Sugar Refinery (DSR) earnings in first half 2018 result declined 25.6% YoY to N12.7 billion (ARM forecast: N12.1 billion) and translating to an EPS of N1.07 (vs. N1.43 in H1 17). Expectedly, the slump in earnings in H1 18 stemmed from lower revenue (-29.2% […]
Results & Dividends
Dangote Sugar Refinery Plc: Continued Weak Volume and Higher OPEX Offset Resilient Gross Margin
July 25, 2018/Cordros Report Update: We update on DANGSUGAR following the recent Q2-18 result, wherein revenue and net profit came behind Q2-17s at strong double-digits. Compared to our estimates, both revenue and net profit were lower by 14% and 13% respectively. Stronger gross margin minimized the effect of still-weak volume […]
Dangote Cement PLC H1 2018: On Track For a Strong FY’18 Performance
Culled—Proshare July 24, 2018/Vetiva Research Solid operations underline decent result DANGCEM released its H1’18 result, reporting a 3% y/y PAT growth to ₦113 billion vs. our ₦123 billion estimate. The earnings growth was supported by strong Nigerian and Pan African operations, with Group EBITDA rising 21% y/y to ₦246 billion […]
