Nigeria | - Part 3

Nigeria | Lafarge Africa Plc FY2015Earnings: Weak Numbers with Mixed Outlook

LAGOS, Nigeria, Capital Markets in Africa — Lafarge Africa Plc (“Lafarge” or “The Group”) released its FY:2015 result last Thursday, 17th March 2016. The result, which is a consolidated account incorporating its new subsidiary – The United Cement Company of Nigeria Ltd (UNICEM) – showed a 2.5% growth in top-line and PBT (from continuing operations) fell 27.5% Y-o-Y to N267.2bn and N29.3bn respectively. Turnover, excluding UNICEM, was up 3.5% Y-o-Y relative to our forecast of…

Sterling Bank Plc 2015 FY: Sustained Positive Momentum Amidst Harsh Operating Environment

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa — Sterling Bank Plc (“Sterling” or “the Bank”) today (March 21, 2016) published its audited FY:2015 result on the floor of the Nigerian Bourse recording positive growth in both top and bottom lines and the first Tier-2 Bank to publish its FY:2015 earnings. We present the highlights of the result and our FY:2016 estimates. Gross Earnings up 6.3% Y-o-Y…Lifted by Non-interest incomeSterling sustained its fine form since the acquisition…

AXA Mansard Plc 2015 FY: Claims incurred on Life Pressures PAT

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa — AXA Mansard Plc (“Mansard” or “The Company”) published its audited FY: 2015 result on March 17, 2016, on the floor of the Nigerian Stock Exchange (NSE). The Company recorded a decline in Gross Premium Written (GPW), however, Gross Premium Earned (GPE) and Profit after Tax stayed positive. We present the highlights of the result and our FY: 2016 estimates. GPW declined 4.7% Y-o-Y but GPE Rose 12.7% Y-o-Y…

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