Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Summary Marketline's London Biscuits Berhad Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by London Biscuits Berhad since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the...
A director at Nestle Pakistan Ltd bought 1,800 shares at 5,500.000PKR and the significance rating of the trade was 56/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years...
At least 40 banks attended a ‘beauty parade’ in Saudi Arabia in the last few days for the IPO. What the bankers may not be aware of is that they are about to herald a boom – there are strong signs that the five-year bear market in commodities could reverse dramatically with this move:
A director at Apollo Micro Systems Ltd sold 72,000 shares at 144.000INR and the significance rating of the trade was 60/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two yea...
Outlook is positive, reiterate Buy. We are optimistic about Nestle Nigeria’s performance in 2019 as we expect growth to be supported by a sustained improvement in the domestic economy. Furthermore, we expect the drive to boost retail volume growth to continue to yield positive results. We expect lower finance costs, which should support revenue growth; we forecast revenue and EPS growth of 17.1% and 20.6% respectively in FY19. Thus, we maintain our target price of NGN1,700 and reiterate our Bu...
• Consumer companies are likely to outperform in 2019, as they have been unshackled from the twin risks of excessive debt and looming depreciation. • In 2018, the ‘danger zone’ of our basket of 42 consumer stocks underperformed the S&P 500, MSCI EM and MSCI FM by 7 to 13%, indicating that the risks are in the price. • Several large developing markets have elections in 2019 – notably Indonesia, Thailand and Nigeria. Elections could be a fillip for consumer spending. • Our top picks ...
Consumer companies are facing a potentially nasty predicament of high foreign currency debt levels at a time of local currency depreciation. Net debt has risen by 15% CAGR among our select group of consumer stocks. We stress test the cashflows of the sector using a Teflon Test. THBEV SP, NB NL, NESTLE NL and JKH SL seem immune. FLOURMIL NL, CPF TB, JAP SP and UACN NL look vulnerable as they have high foreign debt, low margins and foreign currency inputs.
We upgrade Nestle Nigeria (Nestle NL) to Buy with a DCF-derived target price of NGN1,700: Nestle Nigeria is a marquee frontier consumer name that has borne the brunt of the macro concerns in Nigeria. The stock is oversold, in our view, having lost 47% of its US$ value from its peak. Since the Nigerian devaluation in 2016, Nestle Nigeria is down 14% in absolute terms.
IMS Food Universe (EFOODS, NESTLE, NATF and UPFL) posted combined 1QCY18 NPAT of PRs3.9bn, down 12%YoY (incl. FFL: down 17%YoY). Dairy company profits dropped 15%YoY (NESTLE- Dairy segment, EFOODS and FFL) while non-dairy results (NESTLE- Beverages, NATF and UPFL) depicted a 13%YoY decline; UPFL outperformed. Dairy players, Nestle (dairy) and particularly FFL reported a 6%/54%YoY jump in revenue, on expanding UHT footprint, although translation bottlenecks remain for FFL (1QCY18 LPS: PRs1.17 ...
We are constructive on Nestle Nigeria’s earnings outlook in FY 18, estimating EPS growth of 13% yoy. We believe that volume growth and operating efficiency will remain key to driving performance, and expect that likely price increases later in the year will also provide some support. However, we maintain our Sell rating on the company’s stock due to its rich valuations: it trades at an FY 19 PE of 29.5x; similar-branded consumer company peers trade at 19.0x.
Nestlé Nigeria reported its FY17 earnings result late Friday, posting EPS of NGN42.55, +326% yoy. This implies Q4 17 EPS OF NGN13.54, +44% yoy and 67% qoq. The company also announced a final DPS of NGN27.50 culminating in a FY17 DPS of NGN42.50, +347% yoy having paid an interim DPS of NGN15.00 earlier in the year.
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
Unsurprisingly, foreign exchange losses continued to mount pressure on NESTLE’s earnings in Q3’16 as further currency weakness in the quarter ensured a second quarterly loss after tax of ₦51.1 million (Q2’16 LAT: ₦6.1 billion). Given the company’s exposure to FCY loans, NESTLE recorded an initial 376% y/y surge in net finance charges in Q2’16, which was majorly driven by ₦13.1 billion FX loss (following the c.42% currency devaluation). In 9M’16, this figure rose further to ₦1...
NESTLE’s sales momentum strengthened further in Q2’16, up 23% q/q and 15% y/y. With this, H1’16 revenue came in 22% higher y/y (vs 5-year average growth of 12%), 6% above Vetiva’s estimate. Earnings however further deviated from our estimates following a 376% y/y spike in net finance charges which came in at N14.9 billion (vs Vetiva’s N1.4 billion estimate). This outsized figure was recorded majorly due to foreign exchange losses of about N13.1 billion arising from NESTLE’s dollar lo...
​ NESTLE’s Q1’16 result showed impressive performances across key line items. NESTLE reported a 31% y/y growth in Revenue (N36 billion), coming in slightly above both Vetiva and Consensus estimate of N35 billion. Whilst we note that this strong growth was supported by the low base of Q1’15 (due to political uncertainty and heighted insecurity), we highlight that the top line performance stood as the highest first quarter revenue figure recorded in the last decade. Given Management’s un...
NESTLE released FY’15 numbers showing a 6% and 7% y/y growth in revenue and net earnings respectively, directly in line with our estimates. Q4, not surprisingly, was the strongest quarter in revenue performance, contributing 29% to FY revenue. However, on a quarter on quarter basis growth was slower at 3% (5-year Q4 average: 6%) following the unusually strong Q3’15 performance. Furthermore, earnings came in lower than Q3 following relatively higher cost of sales in Q4 (we recall that NESTLE ...
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