Culled—Proshare February 1, 2018/FBNQuest Event: Guinness Nigeria reports Q2 2018 (end-Dec) results Implications: Slight downward revisions to consensus PBT forecasts expected Positives: Sales up 12% y/y, PBT advanced to N3.5bn vs pre-tax loss of N2.4bn in Q2 2017. Negatives: Gross margin contracted by -118bps q/q Guinness Nigeria’s Q2 2018 (end-Dec) […]
Results & Dividends
Flour Mills of Nigeria Q3 2018: FX market stability enhances performance despite slowdown in top line
January 31, 2018/InvestmentOne Research Decline top line: down -13.65% q/q, -4. 14% y/y · Expansion in gross profit margin: up +367bps q/q; +322bps y/y · Slight uptick in opex to sales ratio: up +94bps q/q; +87bps y/y · Mixed PBT performance: down -17.3% q/q; up +303.5% Yesterday, Flour Mills of […]
Guinness Nigeria H1 2018: Bottom line recovers on balance sheet restructuring
January 31, 2018/InvestmentOne Report Strong topline growth: up +35.9% q/q ; +11.5% y/y · Mixed gross margin: down -117.8bps q/q; up +600.9bps y/y · Contraction in opex to sales ratio: down -246.4bps q/q;-642.1bps y/y · Recovery in PBT: N3.5billion in Q2 2018 against N41million in Q1 2018 Yesterday, Guinness Nigeria Plc […]
