May 9, 2024/CSL Research In April 2024, the Stanbic IBTC Bank Nigeria Purchasing Managers’ Index (PMI) saw a slight expansion, increasing slightly by 10bps to 51.10 after trending at 51.00 in the prior two months. However, this is the fifth consecutive month of improvement from the fall to 48.00 in […]
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Airtel Africa FY 2024: FX Headwinds Dampen Profitability
May 9, 2024/CSL Research Airtel Africa’s FY 2024 financials showed a decline in Revenue by 5.3% to US$4.98bn from US$5.26bn in FY 2023. On a q/q basis, Total Revenue declined by 9.7% to US$1.12bn in Q4 2024 from US$1.24bn in Q3 2024. The company attributed the decline in Revenue to […]
BUA Cement Plc Q1-24: Cost Pressures Compel TP Revision
May 9, 2024/Cordros Report We update our views on BUACEMENT in this report, accounting for the performance witnessed in the first quarter of the year. BUACEMENT’s revenue grew by 51.5% y/y in Q1-24, which we believe was driven by volume growth and likely price increases. However, we note that heightened […]
