Discover and read the best of Twitter Threads about #IGR
Most recents (3)
IG Design #IGR was a ten bagger in the 5 years leading up to Covid. An update a fortnight ago dropped the shares by half and erased all the gains in the most recent five years. Knife catching and broken growth this soon is almost always a mistake but IG may be an exception here. 
My basic premise with it is that the accounts are a complicated nightmare (CTRL+f for "adjust" is 232 hits in the last FY report) but most immediately, that this is right now a gross margin story - I think there are grounds to at least consider whether IG can be given a pass here
Unfortunately, it does mean walking through it so grab a.. (just no) so anyway, here's the rough idea: Pre-covid in white, M&A growth darling, 20% gross margins. Forget the op margin for now - I'm stripping out the adjustments that made adjusted whatever go up and to the right
STATES' INTERNALLY GENERATED REVENUE #IGR BETWEEN JANUARY & JUNE 2018, 2019, AND YEAR-ON-YEAR #YoY GROWTH RATE
#Thread
(NBS)
ABIA STATE
2018: N6.98bn
2019: N7.91bn
YoY Growth Rate: 13%
ADAMAWA STATE
2018: N3.18bn
2019: N5.01bn
YoY Growth Rate: 58%
/1
#Thread
(NBS)
ABIA STATE
2018: N6.98bn
2019: N7.91bn
YoY Growth Rate: 13%
ADAMAWA STATE
2018: N3.18bn
2019: N5.01bn
YoY Growth Rate: 58%
/1
Cont'd.
AKWA IBOM STATE
2018: N11.83bn
2019: N20.46bn
YoY Growth Rate: 73%
ANAMBRA STAtE
2018: N7.07bn
2019: N6.07bn
YoY Growth Rate: -14%
BAUCHI STATE
2018: N4.61bn
2019: N8.27bn
YoY Growth Rate: 79%
BAYELSA STATE
2018: N6.87bn
2019: N5.88bn
YoY Growth Rate: -14%
/2
AKWA IBOM STATE
2018: N11.83bn
2019: N20.46bn
YoY Growth Rate: 73%
ANAMBRA STAtE
2018: N7.07bn
2019: N6.07bn
YoY Growth Rate: -14%
BAUCHI STATE
2018: N4.61bn
2019: N8.27bn
YoY Growth Rate: 79%
BAYELSA STATE
2018: N6.87bn
2019: N5.88bn
YoY Growth Rate: -14%
/2
Cont'd.
BENUE STATE
2018: N6.06bn
2019: N12.13bn
YoY Growth Rate: 100%
BORNO STATE
2018: N3.06bn
2019: N3.92bn
YoY Growth Rate: 28%
CROSS RIVER STATE
2018: N9.76bn
2019: N16.73bn
YoY Growth Rate: 71%
DELTA STATE
2018: N29.8bn
2019: N36.39bn
YoY Growth Rate: 22%
/3
BENUE STATE
2018: N6.06bn
2019: N12.13bn
YoY Growth Rate: 100%
BORNO STATE
2018: N3.06bn
2019: N3.92bn
YoY Growth Rate: 28%
CROSS RIVER STATE
2018: N9.76bn
2019: N16.73bn
YoY Growth Rate: 71%
DELTA STATE
2018: N29.8bn
2019: N36.39bn
YoY Growth Rate: 22%
/3
#Thread
The @SPNigeria @BukolaSaraki's comments on the Under-Remittance of #IGR by revenue generating agencies.
The @SPNigeria @BukolaSaraki's comments on the Under-Remittance of #IGR by revenue generating agencies.
