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Markets

Cadbury Nigeria Plc on the losers chart despite blow out results

Mc Nichols Plc was the best performing stock on the Nigerian Stock Exchange this week. The stock appreciated by 22.81%, opening at N0.57 and closing at N0.70.

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NSE, Gainers and Losers, Nigerian Stock exchange

The Nigerian Stock Exchange ended the week on a slightly bearish note. The All Share Index opened at 31,142.72 basis points and closed at 31,139.95 basis points, down 0.01%. Year to date, the index is down 0.93%. 

32 equities appreciated in price during the week, higher than 18 in the previous week. 38 equities depreciated in price, lower than 45 equities of the previous week, while 98 equities remained unchanged, lower than 105 equities recorded in the preceding week. 

Top Gainers 

Mc Nichols Plc 

Mc Nichols Plc was the best performing stock this week. The stock appreciated by 22.81%, opening at N0.57 and closing at N0.70, up N0.13. Year to date, the stock is up 48.94%. 

Access Bank Plc  

Access Bank Plc opened the week at N5.85 and closed at N6.85, up N1.05 or 18.10%. Year to date, the stock is up 0.74% 

This week, the bank concluded its merger with Diamond Bank Plc having obtained final regulatory approval and a court sanction.  

Dangote Flour Mills  

Dangote flour mills gained 13.73% this week. The stock opened at N10.20 and closed at N11.60, up N1.40. Year to date, the stock is up 69.34%. 

Fidelity Bank Plc 

Fidelity Bank opened at N2.14 and closed at N2.37, up N0.34 or 10.75%. Year to date, the stock is up 16.75%. 

Prestige Assurance Plc 

Prestige Assurance appreciated by 10% this week. The stock opened at N0.50 and closed at N0.55, up N0.05. Year to date, the stock is up by the same margin. 

Losers 

Cutix Plc  

Cutix Plc was the worst performing stock this week, declining by 17.78%. The stock opened at N2.25 and closed at N1.86, down N0.40. Year to date, the stock is down. 

Cadbury Nigeria Plc  

Cadbury Nigeria Plc opened the week at N12 and closed at N9.90, down N2.10 or 17.50%.

The company this week released its full year 2018 results. Revenue increased from N33 billion in 2017 to N35.9 billion in 2018. Profit before tax jumped from N350 million in 2017 to N1.2 billion in 2018. Profit after tax rose from N299 million in 2017 to N823 million in 2018.

The company declared a dividend of N0.25 per share. 

The firm also announced the appointment of Olayimika Adeboye, as its its new Managing Director effective April 1, 2019.  

Ikeja Hotel Plc 

Ikeja Hotel Plc fell by 17.39% this week. The stock opened at N2.07 and closed at N1.71, down N0.37. Year to date, the stock is up 11.76%. 

Royal Exchange Plc  

The stock shed 17.14% this week, opening at N0.35 and closing at N0.29, down N0.06. Year to date, the stock is up 4.23%. 

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UPDC

UPDC opened the week at N1.95 and closed at N1.70, down N0.25 or 12.82%. Year to date, the stock is down 10.99%. 

 

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 [email protected]

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Markets

PRESCO and MEYER upsurges as FCMB and CHIPLC plunge

The All-Share Index increased by +0.21% to close at 39,395.71 from 39,312.74.

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Best performing mining, industrial and consumer goods stocks from last week

The Nigerian Stock Exchange market maintained a bullish recovery as the trading session begins this week. This surge was bolstered by gains made by PRESCO and MANSARD amongst others. The All-Share Index increased by +0.21% to close at 39,395.71 from 39,312.74.

  • Nigerian Stock Exchange market value currently stands at N20.5 Trillion. Its Year-to-Date (YTD) returns currently stand at -2.17%.
  • The market closed positive with the bulls as MEYER led 17 Gainers, and 18 Losers topped by CHIPLC showing a hint of consolation.

Top gainers

  1. MEYER up +9.62% to close at N0.57
  2. PRESCO up +9.58% to close at N78.90
  3. UNITYBNK up +9.09% to close at N0.60
  4. UAC-PROP up +7.89% to close at N0.82
  5. COURTVILLE up +5.00% to close at N0.21

Top losers

  1. CHIPLC down -9.52% to close at N0.38
  2. ROYALEX down -7.69% to close at N0.60
  3. HONYFLOUR down -5.83% to close at N1.13
  4. CUTIX down -4.98% to close at N2.10
  5. FCMB down -3.97% to close at N2.90

Outlook

The Nigerian Stock Market maintained the recovery as MEYER and PRESCO made an appearance for the second consecutive time pushing the NGX ASI upwards at the end of the trading session today.

  • Market sentiments tend toward a bullish momentum as the NGX ASI closed with 17 Gainers and 18 Losers.
  • Nairametrics advises cautious buying in this era of growing uncertainties.

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Research Analysis

Nigeria’s Mega Companies spend N143.7 billion on marketing expenses in 2020

Nigeria’s largest companies spent a whopping N143.7 billion on advertising, marketing in 2020 amid COVID-19.

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Nigeria's Bluechips spend N114 billion on advertising, marketing in 2019

Some of Nigeria’s mega corporations spent about N143.7 billion in 2020 representing a 12.5% drop from the same period in 2019. This is according to data compiled by Nairalytics and sourced from the published financial statements of the companies.

According to a PWC report on entertainment and media, Nigeria’s entertainment market is poised to reach $10.8 billion (N4.4 trillion) in 2023, having reached $4.5 billion in 2018. The report stated that Nigeria’s E&M market is dominated by internet revenue, indicating a foreseeable growth in this sector in the coming years.

The report also projected Nigeria’s total advertising revenue at $483 million (N193 billion) in 2020, with the internet accounting for 20.5% of the total. The study revealed that although television advertisement will remain the ad leader in Nigeria by 2023, internet advertisement will outperform TV ad in terms of net additions.

READ: Bank Wars: Access Bank, Standard Chartered, FCMB off to winning start

A similar report also revealed that most of the world’s best-performing entertainment and media consumer markets are in developing countries, with the likes of India, Nigeria, Philippines, Saudi Arabi, and Pakistan taking the lead, in that order.

The year 2020 was ravaged by the covid-19 pandemic, triggering a lockdown in some of the major economic hubs in the country. However, blue Chips still splurged heavily on advertising and marketing campaigns as they jostled to adjust to the new normal.

As Nigerians sat at home in response to the lockdown, they had more time to binge on streaming services, browse social media and engage in several other online activities. Advertisers had no choice but to keep up with the times, spending about $350 million on advertising and marketing. Whilst there was no dominant sector, the likes of Nigeria Breweries and MTN led the table as the highest spenders in the year.


Nigerian Breweries – N24.86 billion

Nigerian Breweries, the largest brewing company in Nigeria, which also exports to other parts of the West African region spent a total of N24.86 billion on advertisement and sales promotion in 2020,

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This represents a decline of 13.8% compared to N28.85 billion spent in the previous year.

The brewing giant embarked on a number of endorsement and advertisement projects in 2020, some of which includes the endorsement of Grammy-winning Nigerian musician, Burna Boy as a brand ambassador for Star Lager, one of the products of the company.

In November 2020, the company also announced Erica Nlewedim of the Big Brother Naija reality tv show as a brand ambassador for the relaunch of their drinks, Legend Extra Stout and Star Radler as the brewing company aimed to improve sales of the products.

The company also sponsored the Access the Star musical talent show together with Access Bank.

This reflected in the company’s top line as it reported a 4.34% increase in revenue from N323 billion in 2019 to N337 billion in 2020.


MTN Nigeria – N15.14 billion

The telco giant incurred a total of N15.14 billion in advertisement, sponsorships and sales in 2020, representing a 13.83% decline compared to N19.84 billion recorded in 2019.

Some of the projects embarked on by MTN Nigeria in the period under review includes the launching of a campaign tagged “Turn-It-Up”, which is expected to help Nigerians turn things up and live their best. The programme generated a series of TV, radio press, and outdoor advertisements during the year.

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Later in the year MTN Nigeria also unveiled a new campaign for its youth proposition, MTN Pulse which featured Nigerian music sensation as an ambassador of the campaign.

The company increased its revenue in this period by 15.1% as Nigerians increased their use of the internet and phone conversation to cope with the new reality of staying home during the lockdown.


Dangote Cement – N12.18 billion

The most capitalised company on the Nigerian Stock Exchange and a top cement producing company in the country spent a sum of N12.18 billion on advertisement and promotion in 2020.

Its advert expenses increased significantly by 41.7% from N8.6 billion recorded in the previous year to N12.18 billion in 2020.

The cement industry is not known for television advertisements as it is easier to use physical and online banner advertisements to promote the product.

Dangote Cement is one of the highly profitable companies in the Nigerian corporate space. It reported a 15.98% increase in revenue, as it hit the one trillion naira mark compared to N891.7 billion reported in the previous year.


Access Bank – N11.32 billion

Access Bank closely followed Dangote Cement, having spent N11.32 billion on advertisement and marketing expenses in 2020. This represents an 80.49% increase when compared to N6.27 billion recorded in 2019.

Access Bank together with Nigerian Breweries, sponsored the “Access the Star” musical talent show in 2020, where the winner walked home with a grand prize of N150 million along with consolation prizes for the first and second runners up.

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The company also engaged in a number of television, radio and online advertisements during the year.

This translated to a 14.69% increase in revenue of Access Bank as it posted a top line of N764.72 billion during the period.


Fidelity Bank – N9.59 billion

Fidelity Bank spent N9.59 billion on marketing, communication and entertainment in 2020, an 8.02% reduction compared to N10.43 billion recorded in the previous year.

The bank created online contents and other advertisements across various channels in the year. It also worked on placing banner ads on some internet media platforms in the country.

Fidelity bank however posted a 5.42% decline in revenue from N218 billion recorded in 2019 to N206.2 billion in 2020.

It is worth noting that Fidelity Bank’s advertisement expenses, includes communication, entertainment and marketing costs.


Others that made up the list of top 10 companies with highest advert expenses in 2020 are:

International Breweries – N8.82 billion

UBA – N8.51 billion

Guinness Nigeria – N8.18 billion

FBN Holdings – N7.72 billion

Zenith Bank – N7.66 billion

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