Culled—Proshare April 23, 2018/FBNQuest Research Event: Lafarge Africa reports Q1 2018 results Implications: Downward revision to consensus 2018E PBT forecasts likely; shares expected to sell-off Positives: No obvious positives Negatives: Lafarge reported a pretax loss of –N2.9bn, driven by a combination of gross margin contraction and spike in opex and […]
Results & Dividends
UBA Reports Q1 2018 Results – PAT Grew by 45% YoY, Thanks to Strong OCI Gains
Culled—Proshare April 23, 2018/FBNQuest Research Event: United Bank for Africa (UBA) reports Q1 2018 results Implications: Limited revisions to consensus 2018E PBT forecast Positives: PAT grew 45% y/y, thanks to strong OCI gains Negatives: Pre-provision profits fell -14% q/q driven by a -30% q/q reduction in non-interest income UBA’s Q1 2018 […]
Lafarge Africa Plc: Reduced losses; but performance still worrying
April 23, 2018/Cordros Capital Update: Earlier today, LAFARGE published Q1-18 result, showing 0.8% y/y decline in revenue and loss after tax of NGN2 billion. The published revenue and net loss were improvements over Q4-17 (+6.8% q/q and -94% q/q). Volume lower y/y; but higher on q/q basis: It is our […]
