Results & Dividends

Dangote Cement Q3 2019 Results Review: Shares Oversold At Current Levels

Culled—Proshare November 29, 2019 By FBNQuest Research   Single-digit cuts to our 2019-21E EPS forecasts Dangote Cement’s (DangCem) Q3 2019 PBT missed our forecast by a significant margin due to negative surprises in gross margin, opex and interest expense. From an earnings standpoint, the company’s Q3 PBT of N42.2bn is the […]

UAC of Nigeria Q3 2019 Results Review: Earnings Boosted By Business Repositioning

Culled—Proshare November 29, 2019 By FBNQuest Research Marked increases to earnings forecasts UACN’s Q3 2019 PBT beat our forecast by 87%, thanks to robust non-operating gains from other ancillary segments, and management’s restructuring exercise which we had not yet modelled. Post-restructuring, the loss-making real estate business – which recorded a […]