Dangote Sugar reported a significant (41.5% y/y) growth in revenue in Q1 2021, as the firm continues to gain more grounds in the Nigerian market in line with our expectations. Net Income grew 30.3% y/y to N8.30bn for Q1 2021. We forecast sustained Revenue growth in 2021 but we expect elevated cost to moderate growth in bottom-line for FY 2021.
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CSL Stockbrokers Ltd (CSLS) is a fully owned subsidiary of FCMB Group Plc, has over 30 years operating history on the Nigeria Stock Exchange and provides Institutional and corporate brokerage services to investors and select issuers. At the heart of CSLS is a robust research platform which supports local and international investors who are desirous of in-depth coverage of the Nigerian capital markets and the economy as a whole.
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