GTCO’s FY 2023 audited numbers showed a 69.3%y/y growth in Interest Income to N550.8bn driven by growth in both average volume of earning assets and average yield.
UAC of Nigeria Plc (NGSE: UACN—potential upside: 26.2%) held a conference call on 4th April 2024 to review its recently released FY'23 financial results and provide guidance on the company's strategic initiatives for the future. Below are key highlights of the call.
Stanbic IBTC Holdings Plc held a conference call on the 5th of April 2024 to discuss its recently disclosed FY'23 financial results and give updates on its strategic objectives. Below are some of the key highlights of the call.
In March, the Nigerian equities market rebounded as the benchmark index advanced by 4.6% to settle at 104,562.06 points, while the market capitalisation added N4.4 trillion (+8.07%) to close at N59.1 trillion.
In its 2023 audited earnings result, Cadbury Nigeria Plc. (Cadbury) reported a 45.6% y/y growth in Revenue to N80.4bn from N55.2bn in 2022. Its cost of sales (adjusted for depreciation) grew slower than Revenue, up 33.2% y/y to N61.0bn from N46.5bn bringing its Gross Profit to N18.5bn in 2023 from N8.8bn in 2022. Consequently, its Gross Profit margin increased 7.1ppts to 23.0% from 15.9%. On a q/q basis, the company’s Revenue was down 10.2% to N21.2bn in Q4 2023 from N23.6bn in Q3 2023.
The Afrinvest weekly sentiment improved to 1.6x (previously 1.4x). This week, we expect the market to trade positively on the back of improved investors’ sentiment.
