February 28, 2017/Cordros Research Dangote Cement Plc (DANGCEM) just released 2016FY result wherein revenue grew by 25% (to N615 billion vs. consensus’ N620 billion) while PAT increased by just 2.9% (to N186.6 billion vs. consensus’ N175 billion). A tax credit of N20.89 billion (resulting from deferred tax credit) was reported […]
Results & Dividends
Flour Mills of Nigeria Plc | Resilient in 2017; But Not Particularly Rosy Going Forward
February 28, 2017/Cordros Research Click here to download full report Despite the outperformance on revenue (10% more than Cordros’ estimate), FLOURMILL’s Q3-16/17 PBT came behind our forecast by 83%. The key outliers during the period were other operating losses (+36% ahead) and finance costs (+310% ahead). The former was impacted […]
UAC of Nigeria Plc: Have the bears overdone it?
Culled—Proshare February 27, 2017/ARM Research Recently, the share price of UAC of Nigeria Plc (UACN) succumbed to bearish sentiments, hitting an eight-year low of N12.02 on the 23rd of February 2017. The scale of the sell-offs placed UACN among a handful of stocks which have lost at least 80% of […]
