July 31, 2024 Cordros Report FBN Holdings Plc (FBNH) published its H1-24 unaudited numbers yesterday (30 July), recording a 94.7% y/y increase in earnings per share to NGN10.11 (H1-23: NGN5.19). We attribute the substantial earnings expansion to the increases across the group’s funded (+155.4% y/y) and non-funded (+71.1% y/y) income lines. […]
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Dangote Sugar Refinery Plc Q2-24: Cost Pressures and Higher Net Finance Costs Impacts Performance
July 31, 2024/Cordros Report Dangote Sugar Refinery Plc (DANGSUGAR) released its Q2-24 unaudited financials yesterday (30 July), reporting a standalone loss per share of NGN6.17 (vs loss per share of NGN3.35 in Q2-23), resulting in a higher loss per share of NGN11.85 for H1-24 (H1-23: NGN2.30). The elevated costs of […]
Coronation Fixed Income and Exchange Rate Update
July 31, 2024/Coronation Research Summary Opening market liquidity was reported at N276.5bn on Friday (26, Jul ‘24). Call, overnight, and repo rates closed within the range of 9.9% – 26.7%, as rates in the money market remain tight. Last week, the average NTB yield increased by +34bps to close at […]
