May 2, 2023/CSL Research Zenith Bank’s Q1 2023 unaudited numbers showed 51.6% y/y growth in Interest Income driven by growth in Interest Income on both Net Loans and Investment Securities. Net Loans to Customers grew 13.4% y/y but was up only 0.4% in Q1 relative to December 2022. Interest Expense […]
Results & Dividends
International Breweries Plc Q1 2023: Revenue Down on Low Volumes
May 2, 2023/CSL Research International Breweries’ top-line shrank y/y. The Q1 2023 unaudited numbers showed that Revenue declined by 5.4% y/y to N54.40.31bn in Q1 2023 from N57.52bn in Q1 2022. We opine that the weakened consumer purchasing power moderated sales volumes as consumers continue to adjust their expenditure pattern […]
Nestle Nigeria Plc Q1 2023: Net Profit Margin Shrinks on the Back of Rising Operating and Finance Costs
May 2, 2023/CSL Research Nestle Nigeria plc’s Q1 2023 numbers showed a steady growth in Revenue, up 16.1% y/y to N127.97bn (Q1 2023) from N110.23bn (Q1 2022). This was supported by growth in both the Food Products and Beverages segments. Maggi seasoning, Cerelac, Nan and other household names in the […]
