August 24, 2017/Cordros Research Click here to download full PDF Report This afternoon, United Bank for Africa Plc (UBA) released audited H1 2017 results, wherein gross earnings grew 34.51% y/y, driven by significant growth across income lines – interest income (+44.25%, in line with our estimate) and non-interest revenue (+16.01% […]
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Access Bank H1-2017 – FY-2017 PAT Forecast Trimmed but Target Price Raised
Culled—Proshare August 24, 2017/Elixir Investment Research Access Bank recently released its H1-2017 earnings which showed solid profit growth despite continued contraction of key risk assets and liability books in Q2. We noted in the Q1 equity report that a revision of balance sheet forecasts will be necessary if we do […]
Dangote Sugar Refinery Plc Earnings on Track for a Strong Finish
Culled—Proshare August 24, 2017/Cardinalstone Research In this report, we provide an update on Dangote Sugar Refinery Plc following the release of its impressive H1’17 results. Following adjustments to our projections, we have revised our target price (TP) to N14.45 (previous: N9.78) and retain our HOLD rating on the counter. Our […]
