February 6, 2019/IMFBlog By Longmei Zhang and Sally Chen Digitalization has created millions of new jobs in China, accounting for between one-third and one-half of employment growth in the world’s second-largest economy. Our Chart of the Week shows employment in two sectors: information and communications technology (ICT) and retailing. ICT […]
Results & Dividends
Flour Mills of Nigeria Q3 2019: Stronger Volume Supports Turnover Growth
February 5, 2019/InvestmentOne Report · Mixed top line: down 4.25% q/q, up 1.42% y/y. · Weak gross profit margin: up 19bps q/q; down 484bps y/y. · Stable Opex to sales ratio: down 5bps q/q; up 44bps y/y. · Declining Profit Before Tax: down 3.63% q/q; 50.61% y/y. […]
Guinness Nigeria Q2 2019 Results Review: Earnings Choked By Thinning Gross Margin
Culled—Proshare February 5, 2019/FBNQuest Research 11% cut to our 2019-21E EPS forecasts Guinness Nigeria’s (Guinness) Q2 2019 (end-Dec) earnings were behind our forecasts primarily due to a disappointing (-432bps) gross margin. As such, PBT surprised negatively by -34%. Guinness’s performance in our view was reflective of inflationary cost pressures – […]
