Culled—Proshare November 8, 2016/FBNQuest Research Today we turn our attention to Nigeria’s hotel, restaurant and quick service meal industry (also referred to as accommodation and food services). Given the macro challenges which have affected the broader economy, the sector has contracted steadily since Q2 2015. Based on data from the […]
Updates
The Un-Enforceability of the Nigerian FRC’s Code of Corporate Governance
Photo Credit: L’Oréal Culled—Proshare November 8, 2016/Fisayo Esan The Financial Reporting Council of Nigeria (“FRC”) recently issued its Code of Corporate Governance (“The Code”) for the Public Sector, the Private Sector and for Not-for Profit Organizations which became applicable from 17th October 2016. The focus of this article will be […]
Flour Mills of Nigeria Plc – ₦9 billion FX Losses Debase Strong Topline growth
Culled—Proshare November 8, 2016/Vetiva Research Strong revenue performance persists, up 44% y/y Gross margin improves 400bps y/y to 14% FX loss undercuts earnings, Q2’17 PAT down 60% q/q TP revised upwards on improved earnings trajectory Improved revenue profile on better volume performance, price Buoyed by the strongest quarterly revenue performance […]
