July 30, 2025/CSL Research Financial Highlights: Revenue +53.9% y/y to N738.14BN Cost of Sales +33.4% y/y to N427.14BN OPEX +31.9% y/y to N159.45BN EBITDA +180.8% y/y to N186.30BN Operating Profit +298.3% y/y to N151.90BN Profit before Tax of N132.25BN from a Loss before Tax N116.34BN Stock Rating: UR Nigerian Breweries […]

July 30, 2025/Cordros Report First HoldCo Plc (FIRSTHOLDCO) published its unaudited H1-25 financials today, reporting a 22.3% y/y decline in profit after tax to NGN283.77 billion (H1-24: NGN365.30 billion). The decline was driven by a significant contraction in non-core income (-57.4% y/y), which outweighed the impressive growth in core income […]

July 30, 2025/Cordros Report In this report, we update our position and estimates for Unilever Nigeria Plc (UNILEVER) for 2025E, following a stellar H1-25 performance. UNILEVER successfully implemented price increases across their product portfolio alongside achieving moderate volume expansion. This translated into a 53.5% y/y increase in revenue generated in […]