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 […]
Results & Dividends
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 […]
Nestle Nigeria Plc H1 2025 Update: FY 2025 Revenue on Track to Cross the ₦1 Trillion Mark
——Target price revised upward August 13, 2025/CSL Research Nestle Nigeria Plc reported H1 2025 Revenue of ₦581.12 billion, marking a 42.8% y/y increase from ₦406.97 billion in H1 2024. Growth was driven by strong performances across both business segments: • Food segment: ₦380.79 billion (+46.1% y/y from ₦260.65 billion in […]
