Culled—Proshare April 30, 2019 By Olamide Adeboboye of ARM Research Absence of one-off cost magnifies gross profit Nestle Nigeria Plc (Nestle) released its Q1 19 results this afternoon, showing double-digit growth in gross profit to N31.5 billion (+22.2% YoY), to miss our estimate of N30.1 billion. The strong outing stemmed […]
Results & Dividends
Fidelity Bank Q1 2019 Results Review: 2019E Forecasts Tampered By Discount To FX Income
Culled–Proshare April 30, 2019 By FBNquest Research 5-6% increase to our 2019-20E EPS forecasts and price target Fidelity Bank’s (Fidelity) Q1 2019 PBT came in around 18% higher than our forecast mainly because of a positive surprise in non-interest income. A significant proportion of the stellar growth in non-interest income […]
Nestle Nigeria Plc Q1-19: Earnings Beat Estimates on Margin Expansion
April 30, 2019/Cordros Report Event: NESTLE recently published Q1-19 results, with EPS growth of 49.3% y/y, driven by increased revenue, gross margin expansion, higher net finance income and lower effective tax rate. The achieved EPS beat our estimates for the three months period by 61% due to positive surprises on […]
