WAPCO: Q1'25 earnings race to multi-year high

Lafarge Africa Plc (NGX: WAPCO, TP - UR) announced an impressive 836.7% YoY surge in earnings in its Q1'25 results, which reflected robust revenue growth, finance income, and foreign exchange gains. The low earnings base in Q1'24, driven by substantial FX losses, also contributed to the magnitude of earnings growth.



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TRANSPOWER: Sturdy earnings growth despite cost pressures

Transcorp Power Plc (NGX: TRANSPOWER"”TP: UR), in its unaudited Q1'25 results, delivered a strong financial performance, posting a PAT growth of 62.0% YoY to reach N32.6 billion, with an EPS of N4.35 (vs N2.69 in Q1'24). By our assessment, the company's robust topline performance was sufficient to assuage pressures from cost of sales (+52.4% YoY), impairments (+178.6% YoY), and administrative expenses (+74.1% YoY), amongst other cost lines.

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GUINNESS: Swing to profitability in 9M'24/25

Guinness Nigeria Plc (NGX: GUINNESS, TP: N96.57, BUY) reversed its prior loss-making position in its unaudited 9M'24/25 results, reporting a net profit of N6.7 billion (vs a loss of N61.7 billion in 9M'23/24). This return to profitability was largely driven by strong topline growth and a significant reduction in foreign exchange losses. The result also marks a notable rebound from the company's weak Q1'24/25 performance, underscoring an improving earnings trajectory.

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