Daily Market Update | 9-08-2023
The Nigerian Equities Market closed in the negative territory today as its benchmark index fell by 1.75% to 64,176.39 points. Consequently, its Year-to-Date return printed at 25.20% (Yesterday: 27.43%). The weak market performance was primarily driven by losses in Dangote Cement Plc, MTN Nigeria Plc and FBN Holdings, offsetting the gains in GEREGU and Ecobank. […]
H1:2023 DANGCEM Earnings Note | FX Devaluation Erodes Bottom-Line Performance
Below is a detailed overview of Dangote Cement’s performance during the first half of 2023 (H1:2023). Higher Revenue Riding on Pricing Strategy Dangote Cement Plc. recently released its H1:2023 financial results, depicting a 17.67% Year-on-Year (YoY) growth in revenue to NGN950.83bn. This is amid a decline (-5.53% YoY to 13.4Mt) in sales volume during the […]
Airtel Africa Plc Q1:2024 Performance – The Constraints of Unrealized FX Losses
Below is a detailed overview of Airtel Africa Plc’s performance during the first quarter of its fiscal year. Revenue Growth Offset by FX Losses In its recently released Q1:2024 financial result, Airtel Africa Plc (AIRTELAFRI) posted growth in its consolidated topline in reporting currency. During the period, markets in Nigeria and East Africa noted significant […]
