March 19, 2025/Cordros Report In this report, we update our outlook on Dangote Cement Plc (DANGCEM) and outline our expectations for 2025E. In 2024FY, DANGCEM reported a 62.2% y/y increase in revenue (Cordros estimates: +54.3% y/y) driven by a 59.7% y/y rise in prices and modest volume growth of 1.6% […]

March 19, 2025/InvestmentOne Report Nestlé Nigeria’s revenue growth of 75.32% YoY was driven by price adjustments, though gross profit margins declined from 39.70% in 2023 to 31.95% in 2024. This margin contraction was due to higher production costs resulting from inflation and foreign exchange volatility. The company reported a gross […]

March 18, 2025/Cordros Report In this note, we update our views on MTNN for 2025E following the publication of its 2024FY financials. Coming off the back of quite a tumultuous year, we anticipate a full recovery and a return to profitability and, subsequently, a restoration to a positive equity balance. […]