Culled—Proshare August 6, 2020 by FBNQuest Research Modest increase to 2020-22E EPS forecasts Nestle Nigeria’s (Nestle) Q2 PBT was down -23% y/y on account of a gross margin contraction of -751bps y/y, reflective of an fx-induced inflationary environment. The company sources the majority of its raw materials locally, but the […]

August 6, 2020/United Capital Report Recently, Flour Mills of Nigeria (FLOURMIL) released its numbers for the year ended 31st March 2020. The audited reports showed that Revenue grew 8.8% y/y to N573.8bn in FY-2019/20, supported by strong growth in Q4, up 18.6% y/y to N150.3bn. Also, relatively slow growth in […]

August 6, 2020/United Capital Report Recently, Lafarge Africa Plc (WAPCO) released its H1-2020 unaudited financial statement and according to the report Revenue grew by 2.3%y/y during the period. This was despite apparent challenges that characterized Q2-2020 amid the COVID-19 induced lockdown. Herein, we review the H1-2020 performance and updated some of […]