Table AII

Earnings quality data

Name of companyYearCFONet incomeAverage assetEarnings quality
A.G. Leventis20160022,501,905,0000
 20150−176,986,00035,011,872,500−0.00506
 2014475,770,000211,813,00032,374,085,000−0.00815
 20131,665,820,000356,357,00033,031,595,500−0.03964
 2012641,126,000314,870,00032,495,698,500−0.01004
 2011769,514,000727,363,00010,551,653,500−0.00399
Ashaka Cem201600453,012,397,0000
 201557,867,963,00026,998,273,000532,385,026,500−0.05798
 201457,816,725,00034,660,666,000220,362,950,000−0.10508
 201336,939,298,0002,616,387,000101,037,000,000−0.33971
 20123,315,218,0002,784,554,00098,874,451,000−0.00537
 20118,734,442,0002,728,857,00032,605,917,500−0.18419
Beta Glass2016 027,171,069,0000
 20154,842,441,0001,991,127,00040,513,921,500−0.07038
 20144,341,369,0002,390,223,00040,630,674,500−0.04802
 2013928,427,0001,467,344,00036,039,807,5000.014953
 20122,735,475,0001,328,580,00029,249,873,500−0.0481
 20114,382,800,0001,545,780,00039,707,396,000−0.07145
Cadbury Nigeria Plc2016739,315,000−672,822,00043,765,305,500−0.03227
 20153,781,283,0001,153,295,00029,780,661,500−0.08824
 20144,382,800,0001,512,687,00050,958,703,500−0.05632
 201330,261,902,0005,498,851,00061,397,727,000−0.40332
 201226,829,844,0005,511,000,00052,548,319,500−0.4057
 201105,053,000,0002,120,681,845,0000.002383
CAP plc2016042,976,212,0002,887,646,269,5000.014883
 2015036,297,592,0002,662,910,377,0000.013631
 2014038,404,784,000875,623,700,5000.04386
 20131,448,652,0001,416,795,0004,393,308,000−0.00725
 2012913,532,0001,115,554,0004,505,047,0000.044843
 2011933,155,0001,078,276,000764,579,573,0000.00019
Chams2016447,711,00020,773,000,0001,058,342,000,0000.019205
 2015179,948,00010,157,000,000892,634,500,0000.011177
 201407,440,000,000287,831,255,0000.025848
 2013418,404,000188,464,00014,076,770,500−0.01633
 2012−243,973,00087,539,00012,062,064,5000.027484
 2011146,239,000−1,236,982,0003,851,684,000−0.35912
Chellarams Plc20160015,415,668,0000
 2015−455,259,00090,407,00023,123,502,0000.023598
 2014−380,290,00090,407,00023,123,502,0000.020356
 20134,163,044,00090,407,00022,467,312,000−0.18127
 2012−2,650,343,000251,162,00017,797,438,0000.163029
 20110228,232,0006,736,757,5000.033879
Dangote Cement2016278,594,000186,624,0001,874,897,000−0.04905
 2015299,517,000181,323,000843,758,746,500−0.00014
 20140196,678,391,0001,264,804,912,5000.155501
 2013231,541,819,000196,678,391,0001,079,802,370,500−0.03229
 2012180,268,299,000142,714,089,000863,681,245,500−0.04348
 2011164,109,364,000125,909,831,000350,450,316,500−0.109
Dangote Sugar2016010,856,673,000124,739,815,5000.087035
 201510,655,421,00010,856,673,000124,739,815,5000.001613
 2014010,856,673,000124,739,815,5000.087035
 201392,297,062,00010,856,673,000124,631,388,500−0.65345
 20121,056,132,604,00010,735,450,000114,340,446,000−9.14285
 201199,974,586,0007,244,056,000207,162,722,500−0.44762
Transcorp201603,304,260,000256,133,043,0000.012901
 201503,304,260,000256,133,043,0000.012901
 20147,731,243,0003,304,260,000234,842,094,000−0.01885
 2013−2,535,529,0006,957,902,000150,336,408,5000.063148
 20124,012,332,0002,710,701,00099,274,186,000−0.01311
 20113,712,795,0004,666,217,00030,736,042,5000.03102
Arbico PLC2016004,532,183,0000
 2015119,437,000271,234,0006,723,544,5000.022577
 2014768,523,000−252,993,0004,709,694,500−0.2169
 2013252,627,00099,242,0003,794,377,000−0.04042
 2012480,182,000−48,305,0001,276,946,500−0.41387
 20110000
Berger Paints Nig PLC2016003,536,641,0000
 20150251,346,0005,304,961,5000.047379
 20140251,346,0005,304,961,5000.047379
 2013311,797,000251,346,0004,616,435,500−0.01309
 2012275,445,000192,009,0004,099,092,500−0.02035
 2011296,518,000227,816,00072,303,252,500−0.00095
PZ Cussons201605,082,747,000106,448,602,5000.047748
 20154,298,160,0005,082,747,00059,968,003,5000.013083
 201467,822,932,0005,082,747,00084,538,988,000−0.74214
 201366,021,901,0005,321,187,000100,555,007,000−0.60366
 201269,615,755,0002,538,846,000101,129,927,500−0.66327
 201160,180,918,0005,697,066,00044,055,645,500−1.23671
Champion Breweries20160−754,523,00014,388,571,500−0.05244
 20150−754,523,00014,388,571,500−0.05244
 20144,056,906,000−754,523,00013,933,906,500−0.3453
 20133,411,284,000−1,178,025,00011,368,058,000−0.4037
 20123,122,035,000−1,336,690,00010,470,962,000−0.42582
 20113,616,868,000−1,825,759,0003,535,681,000−1.53934
Dangote Flour Mills20160 70,965,735,0000
 20150−7,217,001,000101,360,529,500−0.0712
 20140−7,217,001,00098,816,493,000−0.07303
 201337,177,420,000−7,217,001,000111,325,550,000−0.39878
 201233,656,472,000−1,854,490,00082,647,955,500−0.42967
 201166,165,622,000115,704,00021,727,298,000−3.03995
First Aluminium Nig PLC2016008,476,056,0000
 2015029,807,00012,714,084,0000.002344
 2014770,123,00029,807,00012,808,821,000−0.0578
 2013872,165,00097,123,00013,151,663,500−0.05893
 201225,6662,000−1,014,720,00014,290,232,500−0.08897
 2011784,557,000−325,044,0004,928,549,500−0.22514
Flour Mills of Nigeria20160 297,249,445,0000
 2015555,099,0005,367,875,000445,874,167,5000.010794
 201432,677,481,00005,367,875,000428,762,714,500−0.74961
 2013294,401,519,0007,539,810,000372,926,365,000−0.76922
 2012249,891,595,0008,376,656,000279,690,549,500−0.86351
 2011229,346,736,0009,450,204,000109,820,011,500−2.00234
GSK20161,010,812,0002,378,145,00045,424,252,5000.030101
 20154,942,350,000873,134,00043,657,724,500−0.09321
 20141,352,052,0001,848,842,00040,210,097,0000.012355
 20134,841,758,0002,919,170,00034,899,552,500−0.05509
 20123,725,370,0002,823,526,00028,836,516,500−0.03127
 20115,079,202,0002,294,988,000141,298,351,000−0.0197
Guinness Nigeria PLC201609,573,480,000198,492,409,5000.048231
 201532,538,985,0009,573,480,000198,492,409,500−0.1157
 201499,628,640,0009,573,480,000187,224,757,500−0.481
 2013110,599,812,00011,863,726,000163,064,482,500−0.6055
 2012111,616,989,00014,671,195,000143,494,910,000−0.6756
 2011105,735,191,00017,927,934,000109,944,351,000−0.79865
Honeywell Flour Mills201603,351,564,00095,745,658,5000.035005
 20155,602,147,0003,351,564,00095,745,658,500−0.02351
 201451,732,741,0003,351,564,00087,352,697,500−0.55386
 201342,865,862,0002,843,520,00072,658,819,000−0.55083
 201235,369,071,0002,702,431,00051,607,647,000−0.63298
 201131,565,227,0002,492,397,000241,830,060,500−0.12022
Julius Berger201607,853,340,000340,891,885,5000.023038
 201507,853,340,000340,891,885,5000.023038
 201407,853,340,000340,891,885,5000.023038
 201315,922,650,0007,853,340,000292,664,792,500−0.02757
 201231,548,838,0008,012,694,000258,882,126,000−0.09091
 201119,881,569,0004,874,513,00094,986,522,000−0.15799
John Holt20160591,000,00015,456,000,0000.038238
 20150591,000,00015,456,000,0000.038238
 2014145,000,000591,000,00014,410,000,0000.030951
 20132,971,000,00093,000,00016,560,000,000−0.17379
 2012−1,862,000,000424,000,00017,532,500,0000.130386
 20111,527,000,000−1,565,000,0005,783,500,000−0.53462
Livestock Feeds2016003,670,604,0000
 20150210,746,0005,505,906,0000.038276
 20140210,746,0005,505,906,0000.038276
 2013−175,817,000210,746,0003,907,622,0000.098925
 2012−34,174,000144,102,0002,595,405,0000.068689
 2011−11,729,00097,682,0003,562,110,5000.030715
Neimeth Int. Pharm.2016160,380,000 4,173,732,000−0.03843
 201594,824,000−228,535,0004,173,732,000−0.07747
 201489,515,000−228,535,0004,282,323,000−0.07427
 201396,845,000130,578,0002,599,948,5000.012974
 2012159,023,00001,731,613,500−0.09184
 201100577,204,5000
Nestle Nig PLC2016014,904,000,000133,450,000,0000.111682
 201542,913,138,00014,904,000,000200,175,000,000−0.13992
 201476,961,000,00014,904,000,000187,167,000,000−0.33156
 201381,928,000,00010,445,000,000186,450,000,000−0.38339
 201281,264,000,00011,060,000,000177,205,500,000−0.39617
 201173,966,000,0009,804,000,000248,227,200,000−0.25848
Nigerian Breweries2016042,520,253,000292,889,697,0000.145175
 201572,673,843,00042,520,253,000447,878,586,500−0.06733
 2014223,852,222,00042,520,253,000524,291,365,500−0.34586
 2013225,533,169,00043,080,349,000428,472,021,000−0.42582
 2012214,631,499,00038,042,714,000362,518,010,500−0.48712
 2011173,021,048,00038,050,756,000126,955,156,000−1.06313
SCOA20161,792,952,0002,945,00013,796,483,000−0.12974
 2015458,210,000179,477,00013,866,306,000−0.0201
 2014690,557,000179,477,00012,434,572,000−0.0411
 2013485,966,000110,738,00010,980,870,000−0.03417
 2012−44,763,00073,406,0009,609,300,5000.012297
 2011−160,082,000101,266,0003,035,991,5000.086083
UACN2016010,944,795,000130,360,660,0000.083958
 20158,432,638,00010,944,795,000195,540,990,0000.012847
 20142,339,231,00010,944,795,000190,195,824,0000.045246
 20137,408,670,0009,902,858,000185,483,340,0000.013447
 20129,489,345,0007,102,951,000183,081,419,500−0.01303
 2011−5,438,823,0003,407,685,00074,142,180,5000.119318
Vitafoam2016−1,925,426,000−32,032,00019,522,239,5000.096987
 2015661,883,0003,500,00016,385,815,500−0.04018
 2014901,147,0003,000,00014,941,557,000−0.06011
 201315,928,510,000410,313,00015,239,180,000−1.01831
 201213,978,187,000501,594,00014,422,101,500−0.93444
 201114,001,930,000518,850,0004,646,385,500−2.90184
Unilever Nig PLC20160045,736,255,0000
 201515,773,000,0002,412,343,00068,604,382,500−0.19475
 201453,341,966,0002,412,343,00066,622,241,500−0.76445
 201355,279,690,0004,724,429,00058,374,681,000−0.86605
 201249,950,185,0005,597,613,00050,528,770,000−0.87777
 201149,209,536,0005,491,076,00016,139,979,000−2.70871
Union Dicon Salt20160000
 2015153,224,000093,945,000−1.631
 2014343,000−87,616,000133,399,500−0.65937
 2013−1,711,00011,844,000121,636,836,5000.000111
 201211,963,000−20,415,00060,754,594,500−0.00053
 2011−210,000−325,044,00067,775,502,500−0.00479
7-UP Bottling Coy. Plc201616,984,343,000−2,897,369,000100,329,480,500−0.19816
 201511,631,223,000410,319,00089,078,796,500−0.12597
 2014−10,536,074,0006,434,601,00079,301,774,5000.214001
 2013−9,740,888,00042,976,212,000375,361,869,0000.140443
 20122,072,320,00037,497,651,000410,539,588,0000.08629
 20111,076,658,00015,378,322,000117,850,598,0000.121354
Nig. Enamelware Plc20160 6,886,614,0000
 2015−1,652,580,000 10,329,921,0000.15998
 201455,754,309,0003,351,564,0003,443,307,000−15.2187
 201302,843,520,0000–
 2012349,676,784,0002,702,431,00014,778,273,000−23.4787
 2011235,701,196,0002,492,397,0007,389,136,500−31.561
Multi-Trex intgrt. Prdt.2016000–
 201502,105,646,0000–
 201405,367,875,0000–
 2013349,676,784,0007,539,810,0000–
 2012253,633,629,0008,376,656,000122,975,593,000−1.99435
 2011114,389,432,0009,450,204,00061,487,796,500−1.70667
NASCO Plc201602,105,646,0000–
 20154,007,770,0002,105,646,0000–
 201409,573,480,0001,100,793,0008.696894
 201316,338,823,00011,863,726,0001,354,977,500−3.30271
 201214,479,781,00014,671,195,0001,240,102,5000.154353
 201114,520,780,00017,927,934,000418,906,0008.133457
PS Mandrides Plc201607,853,340,0000–
 201507,853,340,000122,975,593,0000.063861
 2014114,389,432,0000183,081,419,500−0.6248
 2013114,389,432,0007,853,340,00071,761,734,500−1.48458
 20128,057,546,0008,012,694,00023,987,244,500−0.00187
 20116,071,983,0004,874,513,0009,252,391,500−0.12942
UTC Nig. Plc20160210,746,0001,100,793,0000.191449
 20150210,746,0001,651,189,5000.127633
 2014001,651,189,5000
 201316,338,823,000210,746,0001,354,977,500−11.9028
 201214,479,781,000144,102,0001,240,102,500−11.5601
 201114,520,780,00097,682,000418,906,000−34.4304
Premier Paints Plc201600341,289,0000
 201525,656,000−29,497,00018,675,427,500−0.00295
 201412,904,000591,000,0009,532,779,5000.060643
 20132,751,00093,000,0001,240,987,0000.072724
 2012−22,311,000424,000,00019,055,179,5000.023422
 20110−1,565,000,00042,734,497,500−0.03662
International Brew. Plc201602,652,748,00046,912,643,0000.056547
 20153,151,232,0001,946,490,000147,414,068,000−0.00817
 201499,628,640,0002,105,500,000187,224,757,500−0.52089
 2013110,599,812,0002,327,342,000163,064,482,500−0.66399
 2012111,616,989,0002,327,342,000143,494,910,000−0.76163
 2011105,735,191,000−2,172,888,00046,113,912,000−2.34003

Source: Annual report of sampled companies

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