August 6, 2019/InvestmentOne Report § Improving top line: up 6.30% q/q, 1.29% y/y. § Mixed gross profit margin: up 690bps q/q; down 75bps y/y. § Stable Opex to sales ratio: down 33bps q/q; 7bps y/y. § Rising Profit Before Tax: up 176.27% q/q; 5.53% y/y. Recently, Flour Mills of Nigeria […]
Results & Dividends
Nestle Nigeria Plc: Falling Costs and Stronger Gross Margin Support Earnings
August 6, 2019/Cordros Report Results summary (Q2/H1-19): NESTLEs reported H1-19 EPS of NGN33.11 was up 22.3% y/y, driven by higher revenue, lower input costs, and a net finance income (vs. loss the previous year). When annualized, H1-19 EPS, came in ahead of the market’s expectation for 2019FY (NGN62.52) and Cordros’ […]
Dangote Cement Plc to Rediscover Lost Swagger
August 6, 2019/Cordros Report Q2-19 Update: Over Q2-19, DANGCEM delivered a 44.5% y/y growth in EPS due to declines in net finance cost (-71.5% y/y) and the company’s effective tax rate (-23.9 ppts y/y). However, the Group’s core operations weakened further in the period following poor outturn in revenue (-5.3% y/y) […]
