Unilever Nigeria Plc. recently released its Q1 2024 financial results, showing a significant uptick in revenue. Excluding its discontinued operations in the Home Care segment, the company's Revenue surged by 57.8% y/y, reaching N32.32bn compared to N20.48bn in Q1 2023.
In this report, we update our 12-month target price (TP) for Transnational Corporation Plc in line with our expectations for the power and hospitality businesses. For the former, the company's strategic positioning in power generation (7.0% of Nigeria's installed grid capacity and 10.0% of total output), export opportunity to other West African countries, and strategic alliances with DISCOs, eligible customers, and state governments are likely to be supportive in the near to medium term. See more here.
The management of Guaranty Trust Holding Company (GTCO) has revealed a target FY'24 PBT of N806.0 billion, which represents a possible 32.3% increase from the FY'23 level. It also aims to raise net-interest margin (NIM) to 11.0% from 7.9% in FY'23. During its recent investors' call, management explained that it would attempt to achieve the set targets via the following:
Fidelity Bank’s recently released its FY 2023 audited numbers showed significant y/y growth in Pre-tax profit, driven by significant growths in both Interest and Non-Interest Income. Interest Income grew 55.5% y/y, driven by expansion in earning assets and improved yields on assets. Net Loans to Customers were up 46.1% in December 2023 compared with the December 2022 position. Growth in Non-Interest Income on the other hand, was driven by foreign currency revaluation gains, trading gains and growth in several Fee Income lines.
Transcorp Power held a conference call on 15 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.
We initiate coverage on BUA Foods PLC (BUAFOODS) with a 12-month Target Price (TP) and projected market capitalization of N275.76 and N5.0 trillion, respectively.
