Tag
Q1 2020 FINANCIAL STATEMENTS
These tier-1 banks may be entitled to tax exemptions in Q2 2020.
The company's cost of sales grew 13.2% y/y to N24.5 billion in Q1 2020, driven by double-digit growth in raw material cost.
The increased profits benefited from the twin effects of continuing top-line growth and focused cost-of-funds optimisation.
Seplat's gross profit dropped from $81.4 million in Q1 2019 to $33.1 million in Q1 2020. This marks a plunge of 59.3%. Meanwhile, profit before deferred tax/loss stood at $105.8 million during the period under review.
The report showed relative improvements across key financial indicators. As always, the summary is presented below.
We place a BUY recommendation on FBN Holdings (FBNH NL) Plc, with a 12-month target price of NGN10.30. This translates to an estimated capital gain of 136.76% from its April 24, 2020 closing price of N4.35.
Law Union & Rock Insurance Plc notified the Nigerian Stock Exchange, other stakeholders, and the investing public that its directors are scheduled to meet on Tuesday May 12, 2020, via videoconferencing.
Access Bank Plc recorded a profit after tax of N40.9 billion in the first quarter period ended March 31st, 2020, according to the company's latest earnings report which was released earlier this afternoon.
Nigerian Breweries Plc has released its latest earnings report for the first quarter period ended March 31st, 2020.