October 27, 2016/Cordros Research On Wednesday, NB released results for nine months and third quarter ended September 2016. The key features of the third quarter result are (1) a record y/y and q/q gross margin contraction; (2) record low EBITDA and EBIT margins; (3) opex savings; (4) notable y/y and […]
Results & Dividends
Dangote Cement Plc: Group Q3-16 Earnings Negatively Impacted by Weaker Margins
October 27, 2016/Cordros Research Earlier today, DANGCEM released results for nine months and third quarter ended September 2016. The key features of the Group’s third quarter result are (1) 21.6% y/y (but -1.2% q/q) revenue growth; (2) significant gross margin contraction; (3) opex spike; (4) considerably weak EBITDA and EBIT […]
Union Bank Plc Posts N91.4bn Gross Earnings in Q3’16 Excluding Gains on Sale of Subsidiaries
26/10/2016/UBN Plc Union Bank, one of Nigeria’s long-standing and most respected financial institutions, announces its unaudited results for the nine months ended 30th September 2016. Bank Financial Highlights Profit before tax: ₦13.2bn (₦13.2bn in 9M 2015); excluding gain on sale of subsidiaries*, increased by 27% to ₦12.4bn (₦9.8bn in 9M […]
