November 17, 2016/NSE This Explanatory Statement has been prepared to provide all the material information to all the Shareholders of AshakaCem Plc. (“AshakaCem” or “the Company”), in respect of the Special Business to be considered at the Extra-Ordinary Meeting, in the accompanying Notice. Introduction In October 2014, Lafarge Africa acquired […]
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Nestle Nigeria Q3 2016 Results Review – Underlying Results Strong Despite FX Losses
Culled—Proshare November 17, 2016/FBNQuest Research Outlook for 2017 unchanged; Neutral rating maintained Although Nestle Nigeria (Nestle) reported a loss after tax of –N51m in Q3 2016, the firm’s underlying results were strong. Nestle posted record high sales of N49.0bn in Q3 2016, its highest ever in a quarter, driven by […]
Dangote Cement Q3 2016 Results Review – Maintaining Outperform Rating Despite Cut to PT
Culled—Proshare November 17, 2016/FBNQuest Research Tangible cuts to our EPS forecasts and price target Dangote Cement’s (DangCem) Q3 2016 results came in well behind our forecasts. As such, we have cut our EPS forecasts by around 12% on average over the 2016E-18E period. However, the reduction to our price target […]
