In its H1'22 results, UACN reported a N716 million loss driven by higher cost and a temperance in revenue growth across its key business segments. This underperformance and an increasing consumer sensitivity to price adjustments have necessitated an adjustment to our full-year projections and a reduction in our 12-month target price for UACN to N11.18 (vs 14.88 previously). In particular, we now project a five-year revenue CAGR of 5.9% (vs 11.5% in previous communication).
Download (343.68 KB)
CardinalStone is a full service investment banking firm with a vision to build a world class investment banking firm of African origin; operating out of Lagos, Nigeria. The firm was incorporated in April 2008 and began operations in June 2008. CardinalStone is duly registered with the Securities & Exchange Commission in Nigeria to carry on business as an Issuing House, Fund Manager and Broker/Dealer
The Firm's activities are carried out across five business units: Asset Management, Investment Banking, Private Equity, Securities Trading and the Business Support Group.
Latest Reports
