Flour Mills of Nigeria Plc reports decline of 18.9% y/y in standalone PAT
Flour Mills of Nigeria Plc (FLOURMILL) published its Q2-23 unaudited results yesterday (October 27), reporting a decline of 18.9% y/y in standalone PAT with accompanying EPS of NGN0.60 (Q2-22: NGN1.27), bringing H1-23 EPS to NGN1.97 (H1-22: NGN2.43). The EPS decline…
Nigerian Breweries Plc reports Loss Per Share of NGN0.49 in Q3-22
Nigerian Breweries Plc (NB) published its Q3-22 (9M-22) unaudited results recently, reporting a Loss Per Share of NGN0.49 in Q3-22 (vs EPS of NGN0.06 in Q3-21), driven by a weaker gross margin (-262bps y/y), higher operating expenses (+30.9% y/y) and…
Guinness Nigeria Plc reports 32.0% y/y decline in EPS to NGN1.25
Guinness Nigeria Plc (GUINNESS) published its unaudited Q1-23 results recently, reporting a 32.0% y/y decline in EPS to NGN1.25 (Q1-22: NGN1.85), on the back of lower revenue generation (+11.3% y/y) as well as a higher operating expense (+44.7% y/y) and…
Shelter Afrique Eyes Sovereign Lending Market
Shelter Afrique is developing a Sovereign Lending product to supplement its traditional products that attend to both the demand and supply sides of the housing value chain, the pan-African housing development financier has disclosed. Speaking in Nairobi, Shelter Afrique Ag….
BUA Group yet to make U-Turn on leaving Kogi State
BUA Group has joined the league of investors withdrawing their interest in putting their resources to work in Kogi State. They all cited the fact that the Governor Yahaya Bello-led government has given room for hostility, such that it is…
Top 25 global retailers lost approximately $90bn in Q3 2022—GlobalData
Amid rising fears of a potential recession, interest rate hikes and high inflation, the global top 25 retailers by market capitalization (MCap) witnessed a 2.7% decline in their cumulative MCap in Q3 2022, which resulted in a loss of approximately…
First PwC Africa Annual Review 2022 report Out
Disruption came in many forms during the last financial year, however, PwC invested in key areas which drove quality and sustained outcomes for the firm and its clients and stakeholders PwC is pleased to release the first PwC Africa Annual…
Dangote: Priority Investments in Infrastructure, Core Industries will Boost Nigeria’s Economy
…Says a ‘newly industrialized Nigeria within 10 years is possible Business magnate and President of Dangote Group, Aliko Dangote has identified priority investments in infrastructure and core industries among other recommendations, as vital panaceas to boost Nigeria’s economy to its…
IMF revises Nigeria’s 2022 economic growth projections to 3.2%
In the October edition of the World Economic Outlook, the International Monetary Fund (IMF) retained its 2022 global economic growth projection at 3.2 percent, as earlier projected in July. At the country level, the IMF downgraded the growth projection of…
Again, headline inflation rose by 25bps to 20.77% y/y in September
Domestic consumer prices surprised positively as the pace of increase in headline inflation in September is the slowest since March (+21bps), likely reflective of the initial impact of the primary harvest season. According to the National Bureau of Statistics (NBS),…
