Culled–Proshare 1/11/2016/Vetiva Research Cement volume down 17% q/q amidst price hike in Nigeria 9M’16 revenue up 21%, buoyed by strong Q3 Pan-African performance Currency weakness stretches margin despite improved Q3 fuel mix Cement prices to remain strong as DANGCEM prioritizes profitability over growth Sharp Valuation little changed due to post-FY’16 […]
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Lafarge Africa Plc Gross Margin Contracts in Q3’16 Results; Shares Rated Outperform
Culled—Proshare 1/11/2016/FBNQuest Research Event: Lafarge Africa reports Q3 2016 results Implications: Slight reduction to consensus 2016E pre-tax loss forecast likely Positives: No obvious positives Negatives: Lafarge reported a pretax loss of -N11.6bn driven by a gross margin contraction of 2,243bps y/y to 5.5% and a -N3.4bn fx loss. Lafarge Africa’s […]
UAC of Nigeria Plc – Earnings outperform, 9M’16 PAT up 23% y/y
Culled—-Proshare 1/11/2016/Vetiva Research Group 9M’16 revenue up 5% y/y Group reports 23% y/y rise in PAT Earnings beat estimates despite higher production costs Forecasts, TP revised upwards, BUY rating maintained 9M’16 revenue up 5% y/y supported by Food segment UACN recorded an impressive 18% y/y revenue growth in the third […]
