August 4, 2025/Cordros Report We have updated our estimates for Nigerian Breweries Plc (NB) following their strong H1-25 performance. The company sustained impressive topline growth, with Q2-25 revenue rising by 40.8% y/y (H1-25: +53.9% y/y), supported by pricing gains and a favourable brand mix. Despite a 7.6% q/q dip in […]

August 01, 2025/InvestmentOne Report Nigerian Breweries Plc delivered a strong performance in H1:2025, recording revenue of NGN 738.14 billion, a 53.88% increase from NGN 479.77 billion in H1:2024. This result builds on the company’s record FY:2024 revenue of NGN 1.08 trillion, which had grown by 80.85% from NGN 599.64 billion […]

August 01, 2025/InvestmentOne Report Aradel Holdings Plc delivered commendable top-line growth in H1:2025, with revenue reaching NGN368.08bn, representing a 37.18% increase from NGN268.31bn in H1:2024. This growth primarily stemmed from higher crude oil output and expanded refined product sales. Despite this revenue growth, the company faced significant margin compression, evidenced […]