Cement Company of Northern Nigeria Plc has presented its fourth quarter earnings forecast for the period ended December 31st, 2012 to the Nigerian Stock Exchange (NSE) over the weekend in Lagos.
CCNN has reviewed the forecast against its believability index, relying on previous performances against forecast; to confirm that the company has a 186 per cent chance of achieving or exceeding its profit after tax forecast and a 136 per cent chance of delivering on its turnover projections for the period in view.
According to analysts, the impressive profit after tax of N1.57 billion declared against N439.48 million forecast in third quarter of 2011 and N2.30 billion declared against N373 million forecast in fourth quarter of 2011 impacted considerably.
The weights fall within the 'most believable' forecast range for quoted companies in the sector.
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