Equity Analysis /

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

    Esili Eigbe
    Esili Eigbe

    Head of Consumer Research

    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.