Culled–Proshare November 19, 2019 FBNQuest Research Outperform rating maintained Nestle Nigeria’s (Nestle) earnings of N10.6bn declined by around -9% y/y and missed our forecast by 20%. In Q3, sales for Nestle’s Beverage segment grew by 8% y/y to N25.9bn and continues to grow in importance. Besides this, the results […]
Results & Dividends
Flour Mills of Nigeria Q2 2020 Results Review: Squeeze in Flour PBT Weighs on Group Earnings
Culled—Proshare November 18, 2019 By FBNQuest Research Slight upward adjustment to average EPS forecasts On the surface, Flour Mills of Nigeria’s (FMN) Q2 2020 results (end-Sep) appear decent. PBT for the quarter grew marginally by 1% to N3.1bn and was in line with our forecast of N3.2bn. That said, a […]
AIICO 9M 2019: Growth in Net Profit Hits Five-Year High
Culled—Proshare November 14, 2019 Meristem Research Life Business Expansion underpins Growth in Gross Premium Income Gross premium earned advanced by 37.13% YoY to NGN35.56bn (vs. NGN25.93bn in Q3:2018), driven by the extensive distribution network of the firm. The firm’s life insurance segment was the most significant contributor to premium growth; […]
