AIRTELAFRI's Q1'24/25 revenue declined by 16.1% YoY to $1.16 billion, primarily due to significant currency pressures in its single largest market, Nigeria. The subsidiary saw a 51.5% YoY drop in topline to $256 million.
In this report, we update our 12-month target price (TP) for Transnational Corporation Plc (TRANSCORP) in line with our improved earnings outlook for the power and the hospitality businesses. We consolidate our views on the company’s subsidiaries (TRANSPOWER and TRANSCOHOT), whilst explaining the impact on overall valuation.
In August, the local bourse saw mixed sentiments as investors treaded cautiously ahead of the release of banks’ H1’24 financial results and interim dividend announcements. This led to a 1.2% MoM decline in the All-Share Index (ASI), with market capitalisation closing at N55.39 trillion.
In a series of recent disclosures, MTN Nigeria Communications Plc (MTNN) has announced proactive measures to mitigate the rising impact of FX volatility on the company’s operations.
Here’s a quick look at how the market performed over the past week, along with our insights and outlook for the week ahead.
Despite improving revenue prospects, as seen in the 45.8% YoY increase in H1'24 sales, Dangote Sugar Refinery Plc (DANGSUGAR) is likely to report losses for the second consecutive year in FY'24.
