Results & Dividends

Nigerian Breweries Plc 2024FY: Margin Gains, FX Relief to Drive Earnings Comeback

April 15, 2025/Cordros Report In this note, we update our views on NB for 2025E. The brewer retained top spot in beer market share in 2024FY (55.2%, 2023FY: 53.2%), generating NGN1.08 trillion in revenue (+80.85% y/y). However, a 342bps decrease in EBITDA margin following sustained cost and OPEX pressure, as […]

UBA at a Bargain + N3 Dividend!

Oliver Alawuba,UBA’s Group Managing Director/ Chief Executive Officer, United Bank for Africa (UBA) Plc. Image Credit: UBA Plc April 9, 2025/InvestmentOne Update UBA closed at ₦34.95 yesterday, slightly below its Rights Issue price of ₦35 — making this a good entry point for smart investors like you. In FY:2024, UBA grew gross […]