March 16, 2021/Proshare by FBNQuest Research 17% increase to our ’21-22f EPS forecasts UBA’s Q4 ’20 results surprised positively across most key headline items. Relative to our forecast, PBT beat by c.55% due to positive surprises on both revenue lines. As such, we have increased our ’21-22f EPS forecasts by […]
Results & Dividends
Nestle Nigeria Q4 2020 Results Review: Tightened Consumer Pockets Amidst Trepid Macros
March 15, 2021/Proshare by FBNQuest Group Flattish expected volumes in ’21f trigger 14.9% price target reduction We have cut our price target on Neste Nigeria (Nestle) to NGN1,570.6/share, down by around -15% and also downgraded our recommendation to Neutral. For 2021f, we anticipate a sustained tightened operating environment for Nestle. […]
Nestle Nigeria Plc FY-2020: Subdued outlook on weak market growth and cost pressures
March 12, 2021/United Capital Report Subdued outlook on weak market growth and cost pressures Last week, Nestle Nigeria Plc (NESTLE) submitted its financial result for FY-2020. According to the report, Revenue grew marginally by 1.1% y/y to N287.1bn in FY-2020 from N284.0bn in FY-2019. However, the company faced some cost […]
