Transactions on the floor of the Nigerian Stock Exchange last week closed on a positive note as the All Share Index and Market Capitalisation both appreciated by 0.58% to close the week at 24,427.73 points and N12.743 trillion respectively.
A total turnover of 1.350 billion shares worth N14.433 billion in 16,723 deals were traded this week by investors on the floor of the Exchange, in contrast to a total of 1.016 billion shares valued at N7.436 billion that exchanged hands last week in 18,092 deals.
The Financial Services industry (measured by volume) led the activity chart with 847.677 million shares valued at N5.649 billion traded in 9,068 deals; thus contributing 62.77% and 39.14% to the total equity turnover volume and value respectively. The Conglomerates industry followed with 176.425 million shares worth N821.337 million in 400 deals. The third place was the Consumer Goods industry, with a turnover of 158.022 million shares worth N3.768 billion in 2,563 deals.
Trading in the top three equities namely FBN Holdings Plc, UACN Plc and United Bank for Africa Plc. (measured by volume) accounted for 434.502 million shares worth N2.408 billion in 2,270 deals, contributing 32.18% and 16.68% to the total equity turnover volume and value respectively.
All other indices finished higher with the exception of NSE-Main Board, NSE Banking, NSE Insurance, NSE AFR Bank Value, NSE AFR Div Yield, NSE MERI Value, NSE Consumer Goods and NSE Oil/Gas Indices which depreciated by 1.04%, 0.62%, 0.80%, 0.38%, 0.69%, 1.45%, 0.38% and 4.67% respectively while NSE ASeM closed flat.
Twenty-eight (28) equities appreciated in price during the week, higher than twenty-six (26) equities in the previous week. Twenty-five (25) equities depreciated in price, lower than thirty-six (36) equities in the previous week, while one hundred and ten (110) equities remained unchanged, higher than one hundred and one (101) equities recorded in the previous week.
C & I LEASING
An additional 377,393,667 ordinary shares of C & I Leasing Plc was listed on the daily official list of the Nigerian Stock Exchange on Thursday 23rd of July, 2020.
The additional shares listed on The Exchange arose from the Company’s Rights Issue of 539,003,333 ordinary shares of 50 kobo each at N6.00 per share on the basis of 4 new ordinary shares for every 3 ordinary shares held as at 4 September 2019. The Rights Issue was 70.02% subscribed. With this listing of the additional 377,393,667 ordinary shares, the total issued and fully paid up shares of C & I Leasing Plc has now increased from 404,252,500 to 781,646,167 ordinary shares of 50 kobo each.
Dangote Cement published its Q2 result last week with growth in its top line and bottom line figures. Despite the fact that the market is anticipating that Q2 earnings of manufacturing firms could be significantly affected by the partial lockdown caused by covid-19 pandemic, Dangote Cement defied all odds as it grew its profit after tax by 5.79% to N126.14 billion from the PAT of N119.24 billion achieved in the first half of 2019. Earnings per share grew to N7.40 form N7.00 which translate to 5.79% growth year on year. Dangote Cement emerged among gainers last week as its share price grew to to N134 from N126.
UNITED CAPITAL PLC
Second Quarter report of United Capital showed significant growth in key indicators despite the challenging global economic climate. Total Revenue in HY 2020 soared to N4.45bn from N3.24bn in HY 2019. An increase of 14.10% was recorded in Profit before Tax while Profit after Tax grew by 15.98% YOY. Total Assets grew by 46.03%, being well financed by a 54.04% increase in Liabilities and a slight decline in Shareholders Fund by 7.47%. Earnings per Share grew to 32 Kobo from 28 kobo achieved in HY 2019.
The share price of UCAP last week appreciated to N2.8 from N2.72 which translates to 2.94% growth week on week.
AFRICA PRUDENTIAL PLC
Africa Prudential grew its profit after tax by 5.34% to N1.08 billion from N1.03 billion achieved in HY’19. Earnings per share grew to 54 kobo from 51 kobo, implying a growth if 5.3% year on year.
AFRIPRUD grew its share price by 3.75% week on week from N4.00 to N4.15.
CADBURY NIGERIA PLC
Q2 result of Cadbury Nigeria Plc show decline in its topline and bottom line figures.
The firm reported profit after tax of N537 million, down by 19.89%, from the PAT of N670 million reported in the second quarter of 2019. Turnover declined to N15.9 billion from N19.5 billion recorded in HY’2019. Earnings per share dropped to 29 kobo form N36 kobo.
Cadbury traded flat this week with the share price of N7.25.
Chemical and Allied Products Plc in its Q2 result declined in both topline and bottom line figures.
The firm reported a turnover of N3.49 billion, down by 10.71% as against N3.91 billion turnover reported in the second quarter of 2019.
Profit after Tax (PAT) declined by 30.03% to N607 million, from the PAT of N868 million in the first half of 2019. Earnings per share dropped to 0.87 from N1.24 reported in HY’19.
The share price of CAP Plc declined by 8.23% to close the week at N18.95 from N20.65 it
closed the previous week.