October 28, 2025/Cordros Report We have updated our estimates for Nigerian Breweries Plc (NB) following the release of their Q3-25 results. Although topline performance remains resilient — with 9M-25 revenue up 47.2% y/y — the Q3-25 revenue came in below our expectations (variance: -9.4%), reflecting a sharper-than-assumed seasonal slowdown. As […]
Results & Dividends
Cement Sector Continues Upward Trajectory with Solid 9M 2025 Performance
October 28, 2025/CSL Report The cement industry sustained its strong growth momentum in the first nine months of 2025, delivering impressive financial results. Total Revenue for all listed cement producers rose by 32.30% year-on-year (y/y) to ₦4.79 trillion, up from ₦3.62 trillion in 9M 2024. This robust performance was largely […]
Airtel Africa Plc Q2-26: Earnings Surge on Data Demand and Subscriber Growth Momentum
October 28, 2025/Cordros Report Airtel Africa Plc (AIRTELAFRI) released its unaudited Q2-26 financial results today, reporting a remarkable 6.53x y/y growth in EPS to USD0.05, bringing the H1-26 EPS to USD0.08 (+9.08x y/y). The improvement was primarily driven by a 29.1% y/y increase in revenue and a 51.0% reduction in […]
