Culled—Proshare October 28, 2016/FBNQuest Research Event: Dangote Cement reports Q3 2016 results Implications: Likely upward revisions to consensus 2016 PAT forecast Positives: PAT grew 147% y/y driven by OCI gains of N37bn Negatives: PBT declined by 38% y.y due to a gross margin contraction of -1773bps y/y and an 81% […]
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Nigerian Breweries Plc Net Interest Expense Declined by 23% YoY
Culled—Proshare October 28, 2016/FBNQuest Research Event: Nigerian Breweries reports Q3 2016 results Implications: Likely downward revisions to consensus 2016 PBT forecast Positives: Net interest expense declined by -23% y/y Negatives: PBT declined by -66% y/y driven by a gross margin contraction of -639bps y/y and a 9% y/y rise in […]
CCNN Plc Records Another Disappointing Performance
October 28, 2016/Cordros Research On Friday, CCNN released results for nine months and third quarter ended September 2016. Revenue and operating expenses for 9M-15 were restated, thus the latest Q3-15 figures for these heads differed from those presented in last year’s account. This update compares the third quarter 2016 result […]
