Culled-Proshare April 25, 2018/FBNQuest Research 15% upgrade to our price target due to 100bp cut in risk free rate UBA’s Q1 2018 PAT beat our forecast by a significant margin. However, the surprise was driven by other comprehensive income (OCI) of N11.2bn. Further up the P&L, PBT was slightly behind […]
Results & Dividends
Unilever Nigeria Plc Q1 2018 – Is Unilever Topping Out?
Culled—-Proshare April 25, 2018/ARM Research Unilever Nigeria Plc (Unilever) began the 2018 financial year positive reporting impressive EPS of N0.50 (+19.1% YoY) which was largely in line with our expectation (ARM forecast: N0.49). Broadly, earnings growth reflected volume-led revenue growth (+16.4% YoY to N25.8 billion) and lower operating expenses to […]
Nigerian Breweries Post s N10 Billion Profit in Q1 2018
April 25, 2018/NB Plc The Board of Directors of Nigerian Breweries Plc has announced a Profit after Tax of N10.2 billion for the first quarter of 2018. The unaudited and provisional results released to The Nigerian Stock Exchange show that the N10.2 billion represents an 11.8% decrease over the N11.4 […]
