Dangote Sugar Refinery Plc (NGSE: DANGSUGAR—TP: N65.99 – HOLD) held a conference call on 07 March 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.
Seplat Energy Plc held a conference call on 29 Feb 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.
In February, Nigerian equities halted its extended bullish run (its first monthly contraction in five months), with the NGX-ASI reporting a c.1.16% decline (vs +35.28% in January 2024).
We initiate coverage on Transcorp Power Plc (TPP) with a 12-month Target Price (TP) and projected market capitalisation of N323.64 and N2.4 trillion, respectively. Our TP implies a price return of 22.6% and a BUY recommendation on the stock.
Dangote Cement's recently released FY 2023 results showed the company’s Revenue increased by 36.4% y/y, to N2.21tn for FY 2023 from N1.62tn in 2022. Quarterly, performance was resilient, as Revenue was up by 23% q/q to N693.49bn in Q4 2023 from N563.77bn in Q3 2023. Given a 1.75% decrease in sales volumes, we attribute the growth in Revenue to price increases, however, we cannot determine the quantum of the price increase as of the time of writing this report.
Dangote Cement Plc held a conference call on March 04, 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.
