H1:2023 United Bank for Africa Plc Earnings Result | Marked by Increased Fair Value Gain on Derivatives
UBA’s H1:2023 financial results mirrored the earnings growth across its Tier-1 peers on the back of the FX liberalization policy implemented during the period. Gross earnings increased by 163.66% YoY to NGN981.78bn, largely supported by higher non-interest income (+381.30% YoY to NGN553.48bn). Interest Income remained elevated, growing by 66.57% YoY to NGN428.29bn. On the […]
H1:2023 BUACEMENT Earnings Note | Spiraling Finance Costs Limits Bottom-Line Growth
This report provides a detailed overview of BUA Cement’s performance during the first half of 2023 (H1:2023). BUA Cement Plc. recently released its H1:2023 financial results, depicting a 17.24% YoY growth in revenue to NGN221.07bn. On the other hand, production cost of sales (adjusted for depreciation) rose by 17.42% YoY to NGN105.36bn while total operating […]
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 […]
