Culled—Proshare May 7, 2019/FBNQuest Research PT up 5% following upward adjustments to EPS ests Nestle Nigeria’s (Nestle) Q1 2019 earnings grew by 49% y/y to N12.9bn, beating our estimate by c.16%. The improved profitability was driven by a positive surprise on the gross margin line which expanded by +616bps y/y […]
Results & Dividends
Nestle Nigeria Q4 2018 Result: Higher Opex/Sales Drags Down PBT Performance
May 6, 2019/InvestmentOne report · Higher topline growth: up 12.40% q/q; 5.19% y/y. · Improved gross profit margin: up 36bps q/q; 616bps y/y. · Mixed opex to sales ratio: down 867bps q/q, up 79bps y/y. · Higher PBT margin: up 847bps q/q; 672bps y/y. Nestle Nigeria Plc released its Q1 2019 […]
Unilever Nigeria Q1 2019 Results Review: Q1 Performance Held Back By Competition
Culled—Proshare 3/5/2019/FBNQuest Research Material cuts to 2019-21E EPS forecasts Unilever Nigeria’s (Unilever) Q1 2019 results were disappointing. PBT was down -45% y/y and missed our forecast by -51%. As such, we have made marked cuts to our 2019-21E earnings forecasts. Unilever’s results were primarily driven by weaker sales in its […]
