November 10, 2017/Cordros Research We cut NB’s 2017F EBITDA and net profit forecasts by 14% and 23% respectively, on downwardly revised revenue growth and gross margin estimates, following the surprise miss in Q3. We also cut forecasts for 2018-2019 by 8% and 13% average respectively, specifically on the cut to […]
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Guinness Nigeria: Rating Downgrade on Downward Revision to Estimates
November 10, 2017/Cordros Research Despite higher y/y EBITDA and net profit in Q1-18, we revise 2018 forecasts for GUINNESS lower by 15% and 26% respectively, on negative surprises on gross margin and finance cost lines, which more than offset better-than-expected revenue. The realized net profit in Q1 was below consensus […]
Intraday Update: NSEASI Heads South on Negative Invrestors Sentiment Across Sectors
November 10, 2017/InvestmentOne Research ASI as at 12.00pm: -0.48% Market movers: CHAMPION (-5.00%), CCNN (-4.95%), CAVERTON (+8.64%), FO (+5.00%) Sector Performances: Banking (-0.39%), Consumer Goods (-0.37%), Insurance (-0.15%), Industrial (-0.08%), Oil & Gas (+0.48%) Market activity: Turnover appears to be less than inspiring so far today with investors exchanging 37m […]
