January 31, 2018/Cordros Research FLOURMILL published Q3-17/18 result yesterday, showing high double-digit y/y growth (320% y/y) in post-tax profit to NGN3.6 billion. The net profit almost tripled our estimate, and was above consensus by 28%. Gross margin surprised to record high (since Q4-13/14), beating our estimate by 470 bps, while […]
Results & Dividends
Guinness Nigeria Plc: Earnings rebound from Q1 low, despite weakening margins
January 31, 2018/Cordros Research Yesterday, GUINNESS released Q2-17/18 results showing net profit of NGN2.09 billion (vs. NGN2.44 billion loss last year), driven by (1) continued revenue growth, (2) better margin, and (3) lower opex and finance charges. The net profit was equally higher compared to Q1-17/18’s NGN41.4 million, but below […]
Nigerian Breweries Set to Consider Dividend Payment February 13, 2018
January 31, 2018 By InvestAdvocate-Beer producer, Nigerian Breweries Plc said on Tuesday its board has scheduled a meeting for February 13, 2018 to propose the payment of dividend for the 2017 financial year end, the brewer said in an issuers announcement to the Nigerian Stock Exchange (NSE). Also, the beer […]
