March 7, 2018/Cordros Capital At our revised TP of NGN851.92 (previously NGN843.54), we maintain SELL rating on NESTLE’s stock at the current market price of NGN1,380. The q/q sales revenue contraction reported in the seasonally-supportive Q4 is a volume pressure worthy of note. Besides, gross margin (-219 bps y/y and […]
Results & Dividends
Nestle Nigeria Plc – Mixed Performance in Q4, But Outlook Still Intact
Culled—Proshare March 6, 2018/Vetiva Research Q4’17 revenue prints below estimate, down 7% q/q FY’17 top and bottom line up 34% and 326% y/y respectively Final DPS of ₦27.50 declared (Total: ₦42.50, Vetiva: ₦35.00) Fourth quarter berths with surprises…. Nestle Nigeria Plc released its FY’17 financial results showing a 34% y/y […]
Nestle Nigeria Reports Impressive 2017FY Results
March 5, 2018/Cordros Capital •Revenue of NGN244.2bn reported was 34% higher vs. 2016FY, but slightly below consensus NGN245.9bn •EBITDA of NGN62.18bn was 41% higher vs. 2016FY, and well-above consensus NGN58.5bn •Finance charges dropped by 27.6% to NGN15.1bn •PAT was NGN33.7bn, 326% higher vs. 2016FY, and above consensus NGN29.9bn •Compared to […]
