February 24, 2023/Cordros Report Nigerian Breweries Plc (NB) published its 2022FY audited financials today, reporting an EPS of NGN1.58 (2021FY: NGN1.57). The achieved EPS (-38.5% variance from our estimates) was driven by the sturdy growth in revenue (+25.9% y/y). The board has proposed a final dividend per share of NGN1.03 (2021FY: […]
Results & Dividends
Flour Mills of Nigeria Plc Q3-23 Update: Underwhelming Showing in 9M-23; We Remain OVERWEIGHT
February 9, 2023/Cordros Report In 9M-23, FLOURMILL sustained the sturdy topline growth recorded since the start of the financial period and hit the trillion-naira revenue mark in 9M, reflecting the impact of (1) the food producer’s retail expansion and proactive pricing of its food products, (2) its new fertilizer blending […]
MTNN FY 2022 Earnings Review: Impressive 2022 numbers ride on continuous growth in Data revenues
February 6, 2023/CSL Research MTN Nigeria’s (MTNN) reported impressive FY 2022 results, with total Revenue growing by 21.6% to N2.01 trillion from N1.65 trillion in 2021. This was on the back of a 64.1% increase in digital revenue and a 46.9% increase in its data revenue. Revenue generated from digital […]
