Culled—Proshare February 22, 2019/FBNQuest Research Slight cuts to price target and EPS estimates Nigerian Breweries’ (NB) Q4 2018 earnings missed our forecasts because of negative surprises in gross margin and net interest expense. The results suggest that headwinds were most pressing in 2018, as NB recorded its worst sales (-6% […]
Results & Dividends
Nigerian Breweries Q4 2018: Heightened Competition and Excise Duties Weighed On Performance
February 21, 2019/InvestmentOne Report · Diverse topline performance: up 32.0% q/q, down 3.9% y/y. · Mixed gross profit margin: up 880bps q/q, down 348bps y/y. · Mixed opex/sales ratio: down 788bps q/q, up 240bps y/y. · Profit before tax of N6.95billion in Q4 2018 against a Loss before tax of […]
ZENITHBANK Q4 2018: Lower Opex and Impairment Charges Support Bottom Line
February 21, 2019/InvestmentOne Report Net interest income of N67.1billion, down 10.0% q/q; up 18.7% y/y Non-interest income of N44.4billion, up 5.7% q/q, down 52.5% y/y Profit before tax of N64.4billion, up 7.4% q/q; up 37.7% y/y Profit after tax of N49.3billion, down 21.1% q/q; up 10.5% y/y Zenith Bank published […]
