August 30, 2023/CSL Research In its FY 2023 (12M ended 31-March-2023) earnings result, Flour Mills Nigeria Plc’s (Flourmills) revenue grew 32.3% y/y to N1.54tn from N1.16tn in FY 2022 (12M ended 31-March-2022). This was boosted by growth in all its revenue segments (food, agro allied, sugar and support services). On […]
Results & Dividends
STANBIC H1 2023: Strong Operating Performance
August 29, 2023/CSL Research Stanbic’s H1 2023 audited numbers showed a 61.6%y/y increase in Interest Income to N110.3bn driven by improved yields on risk assets. Q/q (Q2 2023 compared with Q1 2023), Interest Income was up 18.7%. Net Loans to customers was up 37.4% in H1 2023 from December 2022 […]
Nigerian Breweries Plc H1-23 Update: Earnings Pressured by Huge FX Loss
August 29, 2023/Cordros Report In this report, we review our estimates and update our views on NB for 2023E. NB faced a challenging start to the year in H1-23 as the company grappled with shrinking margins and mounting pressure on its profitability due to the liberalisation of the FX market, […]
