Culled—Proshare April 9, 2018/Afrinvest Research Market Last Week (Our Observation) • The local equities market in the previous week extended the 3-week consecutive downtrend as the All Share Index declined 1.6% W-o-W to 40,841.14 points while YTD returns moderated to 6.8%. • Performance across sectors was bearish as all indices we track […]
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Lafarge Africa Reports a Pretax Loss of N35.1bn in Q4’17 Results; Driven by a Negative Gross Margin
Culled—Proshare April 9, 2018/FBNQuest Research Event: Lafarge Africa reports Q4 2017 results Implications: Downward revision to consensus 2018E PBT forecasts likely; shares expected to sell-off Positives: Sales up 29% y/y Negatives: Lafarge reported a pretax loss of –N35.1bn, driven by a negative gross margin of -9.5% and a spike in […]
Lafarge Africa: 2017FY ends with a disappointing Q4, and broadly, H2 performance
April 9, 2018/Cordros Report Update: LAFARGE published disappointing Q4-17 and 2017FY results over the weekend. A loss after tax of NGN34.6 billion was reported for the full year, resulting from a disappointing H2 wherein losses of NGN35.5 billion and NGN18.8 billion were respectively recorded in Q4 and Q3. Actual EBIT […]
