May 10, 2024/CSL Research The Nigerian stock exchange began the year strongly, showing a significant uptick in market performance during the first quarter. However, recent weeks have seen a downturn in market sentiments. Various factors have contributed to this, such as increasing inflation, disappointing corporate earnings, a deteriorating foreign exchange […]

May 8, 2024/Cordros Report We update our views on Nestle Nigeria Plc (NESTLE) for 2024E following its recently released Q1-24 results. NESTLE’s revenue performance stayed robust in Q1-24, however, margins (gross: -136bps y/y to 26.4% | EBITDA: -116bps y/y to 12.9%) and profitability were pressured by heightened costs (+76.1% y/y) […]

May  7, 2024/CSL Research The recent industry data from the Nigerian Communications Commission (NCC) revealed a notable decline in active mobile subscriptions in Nigeria during the first quarter of 2024. The total number of active mobile subscriptions dropped by 5.4 million or 2.4%, settling at 219 million compared to the […]