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

Earnings Review: Nigerian Breweries Plc H1 2013

Nairametrics by Nairametrics
July 18, 2013
in Blurb, Spotlight
Share on FacebookShare on TwitterShare on Linkedin

 

[upme_private]Nigerian Breweries (NB:NL) released its 2013 H1 results with revenues rising 7.4% to N133billion as at June 30 2013 (H1 2012: N124.6b). Gross Profit during the year also rose 7.6% to N66.3billion during the period as the company struggled to deal with rising raw material cost. Core operating profit for the period will thus remain flat at N31.6billion growing by just 0.6% over the prior year. Pre-tax profits at the end if the period under review was N29.6billion and just 3.8% higher than the N28.5 billion posted same period last year.

Key Highlights

RelatedPosts

FG projects oil sector contribution to GDP will further decline to 5% by 2025

Nigeria is taxing poverty – Taiwo Oyedele

  • Revenue Growth managed to keep up with GDP growth rate at just 7.4%
  • Margins struggled for growth as operating cost continued to eat up the little revenue growth they reported. 
  • Gross Profit margin for example was 49.6% this period no major difference from the 49.5% growth posted same period last year
  • S,G & A grew double figures (15%) to N34.7billion signifying an inability to stem rising operating cost. This is the third straight reporting period that has seen rising operating expenses (18% YoY FY 2012, 9% YoY Q1 2013 and now 15% YoY H12013).
  • Without the contribution of N1.4billion in other income, which rose 62% YoY, then pre-tax profits may have been lower in comparative terms to H1 2012.
  • No significant reduction in Debts as the company maintained about the same debt to equity structure.  
  • Return on Equity of 12.7% is still very healthy and on course to at least match last years results. As it stands it is above inflation rate.
  • NBL is still a very profitable entity and with a strong Revenue Reserve of N93.4billion. However, it still relies on loans and current liabilities to augment working capital requirements.
  • It  owes current back taxes of about 27.8billion and If required to be paid may be a financial strain on operations. Working capital is currently negative at a whopping N39.8billion 
  • Investment in Capex and capacity expansion has now topped N50billion in the last 18months
  • NBL was trading at N177.4 at blog time and represents 33.8x TTM earnings per share.
  • Anyone who buys at this price would currently be carrying an earnings yield of about 3%. Going by this result, things are not about to change anytime soon. Share price has increased 55% in the last one year and  just 20% in value year to date (Jan – July)

NBL 2013 H1 Results Snapshot

 

News continues after this ad


Nigerian Breweries Released is 2013 H1 results in the website of the NSE[/upme_private]

Related

Tags: Nigeria BreweriesNigeria GDPNSE 30RESULTS

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

    • Growth of Private Conglomerates like BUA Group Evidence of the Correctness of our Policies, Says President Buhari
    • BUAFOODS’ ascension to SWOOTs not enough to stop NGX from shedding N190 billion
    • Buhari again urges ASUU to call off strike, says it’s counterproductive

    Follow us on social media:

    Recent News

    Growth of Private Conglomerates like BUA Group Evidence of the Correctness of our Policies, Says President Buhari

    Growth of Private Conglomerates like BUA Group Evidence of the Correctness of our Policies, Says President Buhari

    August 12, 2022
    BUA Cement Plc leads stocks worth over one trillion as market cap rises by N50.80 billion

    BUAFOODS’ ascension to SWOOTs not enough to stop NGX from shedding N190 billion

    August 12, 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