Earnings Update: Dangote Cement

DANGOTE CEMENT PLC (DANGCEM) FY-2020 shows a 15.98% growth in revenue from ₦891.97bn to ₦1.03tn. The remarkable growth in revenue during an economically turbulent year may be attributed to the export concession that was granted to Dangote Cement while the borders were closed to trade. Cost of Sales also increased by 15.26%, however the Net […]

Earnings Update: Lafarge Africa PLC

Earlier this morning, Lafarge Africa Plc (WAPCO) released its FY-2020 scorecard, according to the report, WAPCO  grew its revenue by 8.25% to N230.57bn in FY-2020 compared to the N212.99bn generated in FY-2019. For the record, the COVID-19 induced lockdown impact was greatly felt in the construction industry during the first half of the year. WAPCO […]

economy, Nigerian economy, market report, market update

Weekly Market Update

The market opened the week with a loss of 0.22% on Monday which was followed by mixed performance in the remaining four trading days of the week. Consequently, the All-Share Index (ASI) and market capitalization declined by 0.69% WoW to settle at 38,382.39 and N20.08tn respectively. Year-to-date, the NSE ASI has declined by 4.69%. With […]

economy, Nigerian economy, market report, market update

Weekly Market Update

Investors’ sentiment remain weak at the local equities market with selloffs witnessed across some major tickers last week. The market opened the week with an 8bps loss on Monday which was followed with positive sentiment on Tuesday and Tuesday in reaction to Zenith Bank relatively impressive 2020 financial results. The market however returned to the […]

Earnings Update: Zenith Bank PLC

Net Interest Income Advanced by 12.33% Zenith Bank Plc released the 2020 full year financials showing a 3.84%  increase in gross earnings. A significant 18.45% drop in interest expense lifted net interest performance by 12.23% despite a marginal 1.26% increase in interest income. Notably, Zenith bank generated N420.81bn interest income compared to the N415.56bn realized in FY-2019. […]

economy, Nigerian economy, market report, market update

Weekly Market Update

Bears Dominated Proceedings in the Equities Market Last Week…Investors lost N371.99bn The local equities market closed on a negative note last week amid profit-taking across different tickers. The market opened the week with a 13bps declined followed by losses in all the remaining trading days of the week. Consequently, The All Share Index (ASI) declined […]

Earnings Update: Total Nigeria PLC

TOTAL NIGERIA PLC (TOTAL) FY-2020 shows a decline in revenue by 30.13% to N204.16bn from N292.18 recorded in  2019. Cost of sales also declined by 32.34% reducing the pressure of the low revenue on the gross profit. Notably, gross profit declined by 13.89% to N30.18 compared to the N35.05 billion recorded in 2019. A sharp […]

Earnings Update: FBN Holdings

FBN Holdings Plc (FBNH) released the 2020 full year financials showing a 10.50% decline in interest income and an 8.19% decline in net interest income. Notably, FBNH generated N386.58bn  interest income compared to the N431.93bn generated in 2019. This was followed by a 14.74% decrease in interest expense leading to a drop in the net […]

Earnings Update- Okomu Oil Palm Company PLC.

Okomu Oil Palm Company PLC (OKOMU) 2020 year-end financials shows a significant 24.08% revenue growth when compared to the full year 2019 turnover. This was majorly driven by a 29.17%  growth in local sales from N15.87bn to N20.50bn despite a 2.90% decline in export sales amid the closure of land borders. Click here to download the full […]

economy, Nigerian economy, market report, market update

Weekly Market Update

LOCAL EQUITIES MARKET Local equities market closed on a negative note last week following profit-taking on stocks that earlier had a bullish run. The market opened the week with a 23bps declined on Monday which was followed with losses in all the remaining days of the week. Consequently, The All Share Index (ASI) declined by […]