Category: Napkin Notes


  • PZ Cussons Nigeria, seems to be on the road to recovery going by the higher revenue earned year on year and sharply lower losses made in Q2 2024/2025  About the firm  PZ Cussons Nigeria Plc was incorporated in Nigeria on 4 December 1948 under the name of P.B. Nicholas and Company Limited. The name was…

  • NAHCO Aviance, yesterday held a facts behind the figure session on the NGX. In the presentation shared, the company unveiled huge goals. A key detail was left out: The cost  About the firm  The principal activities of NAHCO are the provision of services including aircraft handling, cargo handling, passenger handling, passenger profiling, crew transportation, energy…

  • Error of Omission or Commission? A few days ago, Champion Breweries dropped an insider dealings notice.  It was for a sale of 300,000,000 shares @ ₦4.00 per share held by Raysun Nigeria Limited. The notice was dated October 22, 2024, but uploaded on the 4th of December.  Why did it take so long for the…

  • Published this on my substack a few days ago, but somehow missed this here. So thought to update. Lafarge Africa picked up steam in this week’s trading session on the NGX. The stock had back to back gains from Monday to Thursday, before dipping on Friday. From a TTM price to earnings ratio, the stock…

  • Shareholders in CWG should expect a much higher dividend for the 2024 financial year. Even more relevant, is software bringing the lion share of revenue. About the company The firm was founded on September 26th, 1992, as Computer Warehouse Limited principally catering to Computer hardware projects. Computer Warehouse Group Plc was incorporated in Nigeria as…

  • BUA Cement  had a sharp dip in profit in 9M 2024 due to higher finance costs. Except there is a sharp rise in Q4 2024 numbers, the company is unlikely to exceed FY 2023 performance. About the firm  BUA Cement Plc was incorporated as a limited liability company on 30 May 2014 and commenced business…

  • 9M 2024 numbers for Dangote Cement show an essentially flat performance due to the spike in finance costs. Except Q4 rebounds strongly, FY 2024 profit after tax may come in lower than the prior year. About the firm Dangote Cement Plc was incorporated in Nigeria as a public limited liability company on 4 November 1992…

  • Investors who have held John Holt shares in the last few months, have cause to smile as the stock has rallied. From a fundamental perspective, there has also been some improvement. At the core though, cash is king, and there lies an empty throne with this firm. About the company  In 1897, John Holt established…

  • Tantalizers Plc made key changes to its board following a board meeting held on the 15th of October, 2024 Food Specialties and Organics Limited and Banklink Africa Private Equities Limited are now core shareholders following a private placement.  About the firm  Tantalizers was incorporated in 1997 as a private limited liability company It became a…

  • In 1986, rockband Bon Jovi dropped their single Living on a Prayer.  It tells the tale of Tommy and Gina, a working class couple who struggle to make ends meet and vow to “hold on to what we’ve got.” It would also go on to become an extremely successful song for the band. MTN Nigeria…