Culled—Proshare August 10, 2020 by FBNQuest Research -14% cut to average EPS estimates over the 2020-22E period Nigerian Breweries’ (NB) Q2 results show a PBT decline of -99% y/y, marking the worst second-quarter performance since as far back as we can track. The PBT was also significantly behind our forecast […]

Culled—Proshare August 10, 2020 by FBNQuest Research PT of N97.0 down by around -17% Unsurprisingly, Total Nigeria’s (Total) Q2 2020 performance was subdued due to movement restrictions in key states across the country. While this was an obvious drag on performance, growing competition from other major marketers provides a sterner […]

Culled—Proshare August 10, 2020 by FBNQuest Research Softer outlook for 2021E on the back of covid-related delays Okomu Oil (Okomu) published strong Q2 2020 results. Earnings were up 30% y/y to N2.0bn and were in line with our expectations. The pandemic-related lockdown had a marginal negative near-term impact on both […]