August 14, 2025/CSL Research Cadbury Nigeria Plc reported H1 2025 Revenue of ₦77.25 billion, marking a 50.2% y/y increase from ₦51.44 billion in H1 2024. Growth was driven by higher domestic sales, particularly in the Refreshment Beverages and Confectionery segments: • Refreshment Beverage segment: ₦49.75 billion (+58.5% y/y from ₦31.39 […]
Results & Dividends
Nascon Allied Industries Plc Q2-25 Update: Profitability Gains to Sustain 2025E Performance
August 14, 2025/Cordros Report In this note, we update our estimates and outlook on NASCON Allied Industries Plc (NASCON). As we noted in our summary, the producer’s number remained resilient driven by increased sales and sustained efficiency gains, despite heightened consumer price sensitivity. Specifically, we like that NASCON was able […]
Guinness Nigeria Plc 12M-25 Update: Operational Efficiencies Support Earnings Outlook
August 14, 2025/Cordros Report We update our views on Guinness Nigeria Plc (GUINNESS) following the release of their 12M-25 unaudited results. After posting a NGN54.77 billion loss in 12M-24, GUINNESS delivered a 12M-25 PAT of NGN16.20 billion, marking strong earnings rebound driven by a combination of aggressive price-led growth, product […]
