March 14, 2024/Cordros Report We update our views on Nigerian Breweries Plc (NB) following the release of its 2023FY results. The brewer’s performance in the period was impacted by weakened consumer spending, rising inflation and naira devaluation, leading to pressure on margins and profitability. Looking forward, we expect higher prices […]

March 8, 2024/CSL Research Airtel Africa’s topline performance was impacted by a decline in voice revenues (down 8.8% to US$1.7bn) despite increases in mobile revenue (up 22.4% y/y to US$631m) and data revenue (+1.9% y/y to US$1.34bn). The company’s bottom line performance was significantly impacted by FX losses, which resulted […]

FSDH Initial Reaction: Nascon FY23 results  Kindly click here to download the report. March 6, 2024/FSDH Research Key Performance Highlights: After reporting blockbuster results in 9M23 (Revenue: +45.6% YoY, Profit: +282.6% YoY), Nascon reported 19.5% YoY revenue growth and +5.1% YoY net profit growth in 4Q23. Nascon Allied Industries posted […]