Following the release of H1'21 unaudited results and our contact with management, we adjust our FY'21 forecasts for Lafarge Africa Plc. Our earnings estimate of N45.8 billion is hinged on expected higher sales, tamer administrative expense and lower finance costs. We retain our BUY rating on the ticker.
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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.
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