August 26, 2016/Cordros Research United Bank of Africa (UBA) released its half earning yesterday evening. Annualized EPS was N1.88 (H1’15: N1.88) ahead of consensus and our estimate of N1.49 and N1.40 respectively, while RoAE was 18.03% versus our estimate of 14.8%. The bank declared a N0.20 dividend (H1’15: N0.20) with […]
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UBA Says H1 2016 Pretax Profit Rise 3.1% to N40.3 Billion
By InvestAdvocate Lagos (INVESTADVOCATE)-Africa’s global lender, United Bank for Africa Plc said on Thursday its pretax profit for the period ended June 30, 2016 rose 3.1 percent to N40.27 billion from N39.04 billion recorded a year ago. Similarly, profit after tax (PAT) climbed up 1.9 percent to N32.62 billion from […]
Dangote Cement Strong Q2 Results Underpinned by FX Gains
Culled—Proshare August 25, 2016/FBNQuest Research Maintaining Neutral rating despite increases to our EPS forecasts Dangote Cement’s (DangCem’s) Q2 2016 PAT beat our forecast by a considerable margin and grew strongly (+132% y/y). However, the results were mainly driven by fx gains. Excluding the gains, the underlying results were weak. As […]
