March 20, 2018/Cordros Update DANGCEM just published 2017FY results. Group revenue of NGN805.6 billion (+31% vs. 2016FY) and PAT of NGN204.3 billion (+43% vs. 2016FY) are behind Bloomberg consensus’ NGN810.4 billion and NGN249.9 billion, respectively. EBITDA came in at NGN388.2 billion, +51% vs. 2016FY, and ahead of consensus’ NGN380.3 billion […]
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Cadbury Nigeria Plc: We remain sellers even at current price
March 20, 2018/Cordros Report Update: We update on CADBURY with a TP of NGN10.96 (29% downside) and maintain SELL recommendation. Despite having a challenging 2017FY, contrary to the rest of our consumer goods universe, the company reported a net profit of NGN300 million, from a loss in 2016FY. We forecast […]
Dangote Cement Says 2017 Pretax Profit Up 60.1% to N289.59 Billion, Proposes N10.50 Per Share Dividend
By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-Cement manufacturers, Dangote Cement Plc on Tuesday said its pretax profit for the period ended December 31, 2017 grew 60.1 percent to N289.59 billion from N180.92 billion recorded a year ago. Post-tax profit of the cement producer rose 43.0 percent to N204.24 billion from N142.85 […]
