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Tuesday, November 24, 2020

UAC of Nigeria: Topline growth and improved margins drive underlying earnings growth in Q3

UAC of Nigeria PLC announced its unaudited results for the third quarter and nine months ended 30 September 2020. Group Performance and Financial Review: Q3 2020 Revenue in Q3 2020 increased 10.5% to ₦21.2 billion from ₦19.2 billion in Q3 2019 as a result of revenue...

World’s biggest brewer AB InBev scraps dividend despite growth in revenue in Q3

KEY FIGURES  Revenue: Ab Inbev’s revenue grew by 4.0% in 3Q20, positively impacted by a healthy volume performance and revenue per hl growth of 2.3%. In 9M20, revenue declined by 6.8% with revenue per hl growth of 1.6%. ...

Flour Mills Shows an Impressive Topline Performance…Revenue Up by 31.15%

Flour Mills of Nigeria PLC Q2-2020 financials show impressive growth in gross earnings by 31.15% from N270.76 bn in Q2-2019 to N355.11  billion in the current period. Topline performance was specifically boosted by a 45.87% and 29.47% increase in income from Agro-Allied and Sugaroperating segment...

Guinness Nigeria Q1’21 Earnings – Revenue leap supports optimistic outlook

Double-digit growth across major segments push Revenue surprise For the first time in over 14 years, Guinness Nigeria PLC reported a N30.0 billion Revenue figure in its Q1’21 financial statements, which represents a significant 12% y/y growth. Although we had expected Revenue to rebound...

Stanbic IBTC 9M’20: Non bank subsidiaries once again lift profit to new highs

Higher Non-interest Income, Opex growth remains tame STANBIC IBTC released its unaudited 9M’20 financials yesterday, posting a 4% y/y increase in Gross Earnings to N183.3 billion (Vetiva estimate: N190.2 billion). The growth in earnings came despite a 10% y/y decline in Interest Income to N81.9...

Custodian Investment Expects Weak Second Half On Profit

Custodian Investment Plc expects that profit performance isn’t going to be as good in the second half of the 2020 financial year as in the first. The company’s full year earnings projection indicates that the risk underwriting firm would earn N1.6 billion in after-tax...
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