Culled–Proshare 1/11/2016/Vetiva Research Cement volume down 17% q/q amidst price hike in Nigeria 9M’16 revenue up 21%, buoyed by strong Q3 Pan-African performance Currency weakness stretches margin despite improved Q3 fuel mix Cement prices to remain strong as DANGCEM prioritizes profitability over growth Sharp Valuation little changed due to post-FY’16 […]
Results & Dividends
Lafarge Africa Plc Gross Margin Contracts in Q3’16 Results; Shares Rated Outperform
Culled—Proshare 1/11/2016/FBNQuest Research Event: Lafarge Africa reports Q3 2016 results Implications: Slight reduction to consensus 2016E pre-tax loss forecast likely Positives: No obvious positives Negatives: Lafarge reported a pretax loss of -N11.6bn driven by a gross margin contraction of 2,243bps y/y to 5.5% and a -N3.4bn fx loss. Lafarge Africa’s […]
International Breweries Plc Records Pre-tax and Post-tax Losses in Q2’17 Results
Culled—Proshare November 1, 2016/FBNQuest Research Event: International Breweries reports Q2 2017 (end-Sep) results Implications: Downward revision to consensus estimates expected Positives: Sales of N6.6bn were up 35% y/y and 12% ahead of our estimates Negatives: Pre-tax and post-tax losses of –N216m Late yesterday, the NSE published International Breweries’ Q2 2017 […]
