Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Opinions Blurb

Nigerian Breweries (Nbl) Post N13.6billion Pre-Tax Profits – Flat Growth Persists

Nairametrics by Nairametrics
May 5, 2013
in Blurb
Share on FacebookShare on TwitterShare on Linkedin

Nigerian Breweries Plc released its 2013 Q1 unaudited accounts with revenues rising slightly (4.6%) to N64.5billion (2011: N61.76billion). Operating profit at the end of the period dropped 6% to N14.4billion. Pre-tax profits also dropped 3% to N13.6billion.

Highlights

  • Gross Profit Margins shrank compared to same period last year due to a marginal rise in cost of sale

  • Operating Expenses as a percentage of Gross profit remains high at 54% slicing further into gross profits.

  • Finance Cost is well contained at just 11% of operational profit

  • Total loans of over N50billion is about 28% of Equity which by all means is adequately covered.

  • The company has cash in bank of over N20billion and generated operating cashflows of about N18.5billion this quarter alone. However, it still retains a negative working capital of about N20.7billion much of which are current tax liabilities (N23.8billion). This portends a worry should the tax authorities step up efforts to recover the money within the year.

  • Inventory turnover for the period was 1.4x suggesting its stock of beverages are completely sold once over a three month cycle

  • Return on equity was 5.5% during the quarter which arithmetically suggest a 22% ROE when annualized. If this correct then shareholder returns is well above annual inflation and definitely higher than current bond rates.

  • Share price is high at N161.5 (3/5/2013) with a price multiple of 32x. Price to book ratio is an astonishingly high 13x as well. Rather than top line growth, the fact that the company is highly profitable and one of the very few well run companies in Nigeria adds to the premium you pay to own this stock. Very few investors will not have this stock in their portfolio. For bargain hunters a N100 share price is ideal….but the last time the stock was priced that cheap was June 8th last year. Incidentally its one year low.

NBL 2013 Q1 SNAPSHOT

Nigerian Breweries Plc Q1 2013 unaudited accounts was posted on the website of the NSE

RelatedPosts

BEER WARS: Guinness Nigeria overtakes International Breweries as second largest Brewer by market share

Presidential candidates mute as Nigeria’s inflation rises to 17.7%

Related

Tags: Consumer GoodsNigeria BreweriesNigerian Company ResultsNSE 30

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

inq
avatrade
Stanbic bank
Mega Millions
UBN
Hot forex
Access Bank
Bankers Committee
First bank






    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • What crypto assets investors are buying in August amid ongoing bullish rally
    • Top 5 Nigerian insurtech startups by funds raised since 2021
    • ASUU strike: Governor Umahi says it is impossible for Nigeria to borrow N1.1 trillion to meet Union’s demand

    Follow us on social media:

    Recent News

    Top 5 cryptocurrencies to watch in May 2022

    What crypto assets investors are buying in August amid ongoing bullish rally

    August 11, 2022
    DEAL: Casava receives $4 million pre-seed to help Nigerians access insurance

    Top 5 Nigerian insurtech startups by funds raised since 2021

    August 11, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com