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Nigeria

Guinness Nigeria: GUINNESS NIGERIA: FY17 earnings and dividend beat expectations

    Esili Eigbe
    Esili Eigbe

    Head of Consumer Research

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    Tellimer Research
    11 September 2017
    Published byTellimer Research
    Guinness Nigeria reported its FY17 results last week, posting EPS of NGN1.28, ahead of our estimates vs a loss per share of NGN1.34 the previous year. This implies Q4 17 EPS of NGN2.97 vs a loss per share of NGN1.91 in Q4 16 and +112% qoq. The company also announced a DPS of NGN0.64, representing an increase of 28% yoy, also ahead of our estimates.