Nestle Nig Plc presented its Q4 earnings forecast for the period ended December 31st 2012 to the market today.
Proshare has reviewed the forecast against its believability index, relying on previous performances against forecast; to confirm the following:
That Nestle Nig Plc has a 271% chance of achieving or exceeding its PAT forecast and a 170% chance of delivering on its Turnover projections for the period in view.
The impressive PAT of N9.14billion declared against N2.35billion forecast in Q3’11 and N16.80billion declared against N2.67billion forecast in Q4’11 impacted this considerably.
This weights fall within the 'most believable' forecast range for quoted companies in the sector.