Culled—-Proshare August 7, 2017/Vetiva Research · Strong bottom line driven by improved efficiency, strong pricing · Nigeria EBITDA margin soars to 66% · Nigeria volume to remain under pressure amidst strong pricing · Valuation revised amidst modifications to estimates Improved fuel mix, strong H1 revenue lift bottom line DANGCEM reported […]
Results & Dividends
Flour Mills of Nigeria Plc – Earnings Beat Despite Lingering Cost Pressures
August 3, 2017/Vetiva Research · Revenue prints in line with estimate – up 25% y/y · Gross margin weakness, elevated finance costs remain a challenge · Gains from FX hedge support Q1’17/18 earnings beat – PAT up 3% y/y Strong revenue growth persists, PAT rises 3% y/y Despite the strong […]
Nestle Nigeria – In Line to Deliver Strong Earnings Growth In 2017
Culled—Proshare August 3, 2017/FBNQuest Research Neutral rating maintained Nestle Nigeria (Nestle) posted earnings of N8.2bn compared with a loss of –N6.2bn in Q2 2016. We draw many positives from these results such as gross margin expansion and a strong interest income line, which was up by more than 600% y/y […]
