Report
Gari Chigwedere

Nestle and Unilever Nigeria | Two drink minimum

Nestlé and Unilever's H1 ‘19 results illustrate that consumers are under pressure. Despite the challenges, producers increased profitability and exceeded our margin expectations due to Q2 ‘19's revenue growth together with positive operating leverage. Using Nestlé for more readthrough, it appears positive momentum in beverages is supporting the growth. Results in Q2 '19 suggest improvements to come in H2 '19. However, we highlight challenges for home and personal care (“HPC”) products.
Underlyings
Nestle Foods Nigeria PLC

Unilever Nigeria PLC

Provider
Avior Capital Markets
Avior Capital Markets

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Analysts
Gari Chigwedere

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