Academy Press Plc, Nigerian stocks
Academy Press factory

Academy Press Plc yesterday hit a 5 year low on the Nigerian Stock Exchange. The stock opened at N0.50 and closed at N0.45, down N0.05. Year to date, the stock is down 10% 

About the company

Academy Press Plc was incorporated in Nigeria as a private limited liability company on 28th July, 1964 and by a special resolution, became a public limited liability company on 22nd October, 1991.The company offered its shares to the public in November 1994 and these shares were listed on the Nigerian Stock Exchange on 15th June, 1995.

The group carries on its business as printers of educational and general books, and commercial printing of diaries, labels, calendars, periodicals, annual reports, confidential and other printing.

Behind the tumbling price

The company’s poor results may be the reason for the stock’s performance.

Results for the first quarter ended June 2018 show that revenue dipped from N606 million in 2017 to N457 million in 2018. Loss before tax stood at N91 million in 2018, as against N4.2 million in 2017.

Results for the half year ended September 30, 2018 show that revenue dipped from N1.2 billion in 2017 to N1.1 billion in 2018. The firm made a loss before tax of N85.1 million in 2018, as against a loss before tax of N4.3 million recorded in 2017.

Bad year loading? 

The poor half-year results could be an indication that the firm may record either a loss, or far lower profit, compared to the prior year.

For the financial year ending March 2018, the company recorded revenue of N2.1 billion and a profit after tax of N63.6 million.

Nothing for investors

The firm declared no dividend in the financial year ended March 2018, and the prior year as well. If the poor performance continues, the firm may end up not paying dividends for three straight years.

Retail investors in the country take dividends seriously, and the absence of such could lead to a dumping of the company’s stock.

How low will it go?

A minimum price floor of N0.20 per share means the stock may still drop lower in the weeks to come.

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via


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