May 4, 2020/Cordros Report Since the start of the year, NASCON’s share price has sustained its downward spiral, declining by 22.4% (All Share Index: -14.2% YTD). While we do not rule out COVID-19 induced risk-off sentiments, the impact of the reported earnings weaknesses – 2019FY EPS declined by a staggering […]
Results & Dividends
Nigerian Breweries Q1’20: Signs of Weakness Glaring
May 4, 2020/InvestmentOne Report · Unimpressive topline performance: down 0.1% y/y, 4.7% q/q. · Mixed gross profit margin at 41.9%: down 20bps y/y, up 170bps q/q. · Rise in opex/sales ratio: up 360bps y/y, 10bps q/q. · Mixed PBT Margin at 9.9%: down 380bps y/y, up 290bps q/q. Nigerian Breweries […]
Seplat Q1’20: Company’s Performance Obliterated by Lower Oil Price and Impairment Provision
May 4, 2020/InvestmentmentOne Report Top line Performance: down 31.91% q/q, 13.35% y/y. · Gross profit margin: down to 25.37%, from 64.61% in Q4 2019 and 51.05% in Q1 2019. · OPEX/sales ratio: up to 121.30%, from 12.79% in Q4 2019 and 20.39% in Q1 2019. · PBT margin performance: down […]
