Results & Dividends

Guinness Nigeria Q4 2021 Review: Spirits to Anchor EPS Performance in FY 2022

September 17, 2021/Proshare by FBNQuest Research 22% increase to our EPS forecasts over the 22-23f period Guinness surprised negatively in Q4 ’21 (end-June). Against our expectation, the bottom-line came in at a loss of -NGN583m vs. our NGN644m estimate. Nonetheless, sales of NGN45.5bn beat our forecast by a significant 33.5%, […]

Seplat Energy Plc H1-2021: Firm Outlook Predicated on Improving Demand

September 16, 2021/United Capital Research Please click here to download the full report Earlier, major indigenous upstream player, Seplat (‘SEPLAT’ or ‘The Company’) released its H1-2021 financials, which showed a 32.1% y/y and a 404.4% y/y increase in topline and bottomline to close at $303.8m and $36.1m, respectively. The strong […]