August 30, 2016/InvestmentOne Research Maintaining HOLD rating despite 82% cut to our EPS forecast on FX loss Following Nestle’s Q22016 numbers, which showed a negative bottom-line position in spite of sustained uptick in volume, we have reviewed our forecast for the Consumer Goods player to reflect the impact of further […]
Updates
Unilever H1 2016 Earnings Review: Over 6 00bps y/y contraction in Gross margin dragged bottom – line figures
August 30, 2016/InvestmentOne Research Topline forecast raised by +6.3% ; Sell rating maintained Unilever Q2 2016 results showed sustained growth in both top and bottom-line figures, buoyed by lower-base effect. However, input costs pressure resulted in massive contraction in margins across the P& L line. While turnover was up by […]
Nigerian Breweries Q2’2016 Result: Spike in interest expense on FX devaluation weighed on Earnings
August 30, 2016/InvestmentOne Research Maintaining sell rating on Nigerian Breweries Plc NB’s Q2 2016 results showed moderation in sales and a spike in net finance cost which weighed on bottom-line performance. Relative to our estimate, sales was down by over -4% y/y while PBT declined by -29% y/y, due largely […]
