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    Nigeria | NGX

    GTCO | Guaranty Trust Holding Q1'24 revised company update : FY’24E earnings likely to outperform bank’s guidance

    Provider: CardinalStone Research
    Category: Nigeria | NGX
    Published: 07 May 2024

    Following the release of GTCO's Q1'24 financial results, we have updated our assumptions and estimates for FY'24 and subsequent years. 

    UBA | United Bank For Africa Q1 2024 Quick Take : Interest and Fee Income growth drive strong profit growth

    Provider: CSL Stockbrokers
    Category: Nigeria | NGX
    Published: 03 May 2024

    UBA’s Q1 2024 unaudited numbers showed a strong 129.7% y/y growth in Interest Income to N440.8bn driven mainly by growth in Interest Income on Investment Securities, loans and on cash and bank balances. Net Loans to customers grew 39.5% in Q1 2024 compared with the December 2023 position, inclusive of the impact of devaluation on foreign currency loans. Interest Expense also grew strongly, up 93.9% y/y. Customer Deposits were up 23.4% in Q1 2024 compared with the December 2023 position. Overall, Net Interest Income was up 151.3% y/y to N300.7bn for Q1 2024 compared with N119.6bn for Q1 2023.

    PRESCO | Presco Plc FY 2023 Quick Take : Tapered Cost of sales, biological asset revaluation gains support strong profitability

    Provider: CSL Stockbrokers
    Category: Nigeria | NGX
    Published: 03 May 2024

    Presco Plc (PRESCO) in its audited FY 2023 results reported a 26.4% y/y growth in Revenue to N102.42bn from N81.03bn (FY 2022). However, on a q/q basis, Revenue was down 11.3% to N25.55bn (Q4 2023) from N28.8bn (Q3 2023) possibly due to the observed decline in CPO price during the quarter. The overall topline growth in the year was driven by improved sales of CPO, mill by-products and Fresh fruit Bunches (FFB).

    TRANSCORP | Transnational Corporation Of Nigeria Earnings Update : Robust diversified topline drive stellar Q1'24 earnings

    Provider: CardinalStone Research
    Category: Nigeria | NGX
    Published: 02 May 2024

    In its unaudited Q1'24 results, Transnational Corporation Plc (TRANSCORP - TP: N32.59) recorded stellar growth in PAT to N35.9 billion, driven by robust topline performance across the power and hotel subsidiaries.

    ACCESSCORP | Access Holdings Q1 2024 Quick Take : Operating performance still strong

    Provider: CSL Stockbrokers
    Category: Nigeria | NGX
    Published: 02 May 2024

    Access Holding’s Q1 2024 unaudited numbers showed a 183.1% y/y growth in Interest Income driven by growth in both Interest Income on Net Loans and yields on investment securities due to a higher yield environment and growth in earnings assets. Net Loans grew 19.7% in Q1 2024 compared with the December 2023 position, inclusive of the impact of devaluation on foreign currency loans.

    INTBREW | International Breweries Q1 2024 Quick Take : Significant FX loss wipes out Q1 earnings

    Provider: CSL Stockbrokers
    Category: Nigeria | NGX
    Published: 02 May 2024

    International Breweries’ Q1 2024 unaudited numbers showed Revenue growth of 89.7% y/y to N103.22bn from N54.39bn (Q1 2023). On a q/q basis, Revenue was up 34.4% from N76.82bn in Q4 2023. We believe the topline growth was mainly driven by the c.23.5% price increase across product segments of the business in the quarter. The Cost of Sales (ex-depreciation) grew faster than Revenue, up 114.8% y/y to N66.79bn (Q1 2024) from N31.09bn (Q1 2023). Consequently, Gross Margin declined to 35.3% from 42.8% (Q1 2023). Although, Gross Profit was up 56.3% y/y to N36.43bn from N23.31bn in Q1 2023.

    More Articles …

    1. NESTLE | Nestle Nigeria Q1 2024 Quick Take: FX losses erode Nestle’s profitability
    2. MTNN | MTN Nigeria Q1 2024 Quick Take : FX losses drag bottom-line
    3. WAPCO | Lafarge Africa Q1 2024 Quick Take : FX losses drag bottom-line
    4. BUACEMENT | BUA Cement Q1 2024 Quick Take : FX loss amidst cost pressures drag bottom-line
    Page 13 of 57
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    POPULAR REPORTS

    Apr 28, 2025

    GTCO | Guaranty Trust Holding - Company update : Balance sheet optimization to drive quality earnings

    Nigeria | NGX CardinalStone Research
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    SECTOR | Nigeria : Palm Oil Sector Update : Prices to remain elevated in H1’25 on supply constraints

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    Apr 22, 2025

    NESTLE | Nestle Nigeria Company Update : Path to profitability in sight

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    May 02, 2025

    BUACEMENT | BUA Cement - Company Update : Stellar Q1’25 earnings prompt upward review

    Nigeria | NGX CardinalStone Research
    Apr 25, 2025

    BUACEMENT | BUA Cement - Earnings Update : Margin expansion on robust revenue growth and lower FX losses

    Nigeria | NGX CardinalStone Research
    Mar 28, 2025

    SECTOR | Nigeria : Consumer Goods Sector Update : On the road to recovery in 2025

    Nigeria | NGX CardinalStone Research
    May 02, 2025

    TRANSCORP | Transnational Corporation Of Nigeria - Company Update : Target price revised; buy rating maintained

    Nigeria | NGX CardinalStone Research

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