August 9, 2021/Cordros Report Lafarge Africa’s H1-21 report showed that Q2-21 standalone PAT grew by 25.7% y/y to NGN19.19 billion while EPS settled at NGN1.19/share, bringing H1-21 EPS to NGN1.76/share (+21.4% y/y). The double-digit growth in PAT was driven by a combination of topline growth (+29.4% y/y) and reduction in […]

August 9, 2021/Cordros Report EQUITIES Trading at the local bourse opened the week negatively, primarily driven by sell-offs of DANGCEM (-3.3%) and FLOURMILL (-2.3%) stocks. Accordingly, the NGX ASI Index declined by 0.6% to 38,567.26 points. Consequently, Month-to-Date gain printed +0.1%, while Year-to-Date loss increased to -4.2%. The total volume […]

August 9, 2021/Cordros Report Strategy Buying interest resurfaced in the local bourse as corporate earnings release began with the declaration of dividend dominating the airwaves. The fixed income yields continued to print lower at the primary market auctions as both the money market and bond instruments recorded lower stop rates […]