March 27, 2018/Cordros Report Update: We update on DANGCEM, following the surprise effective tax rates (ETRs) of c.30% and 84% reported in 2017FY and Q4-17. On net, we increase our estimate for group ETR for 2018-2019E to 14% (previously 11%) and for 2020E and beyond to 33% (previously 12%). Net […]
Results & Dividends
Cement Company of Northern Nigeria Says 2017 Pretax Profit up 141.4%, Offers N1.25 Dividend
ByInvestAdvocate Lagos (INVESTADVOCATE)-Cement producer, Cement Company of Northern Nigeria Plc (CCNN) (Sokoto Cement) on pretax profit for the period ended December 31, 2017 rose 141.4 percent to N4.20 Billion from N1.74 posted a year ago. Post-tax profit of the company in the review period increased 157.1 percent to N3.22 billion […]
Julius Berger Nigeria Plc- One-off Incomes Buoy Return to Profitability
Culled—Proshare March 26, 2018/Vetiva Research PAT outperforms estimate albeit underlying earnings remain weak Board declares FY’17 dividend of ₦0.25/share (FY’16: Nil) Cautious outlook on earnings amidst persistent operations downscaling FY’18 PAT estimate revised lower to ₦2.8 billion (Previous: ₦3.5 billion) TP relatively unchanged on improved cash position, lower risk-free rate […]
