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Chams Plc has charmed investors

@chams_plc was the best performing stock this week on the NSE appreciating by 28.57%. Year to date, the stock is up 80%.

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NSE, Gainers and Losers, Nigerian Stock exchange

The Nigerian Stock Exchange ended this week’s trading session on a positive noteafter two weeks of downward movement.

The NSE All-Share Index appreciated by 1.78% to close the week at 30,086.31 and N11.301 trillion respectively. Year to date, the index, however, remains in the red, down 4.28%. 

33 equities appreciated in price during the week, lower than 35 in the previous week. 33 equities depreciated in price, higher than 31 equities of the previous week, while 101 equities remained unchanged, the same as the preceding week. 

Top Gainers 

Chams Plc  

Chams Plc was the best performing stock this week, appreciating by 28.57%. The stock opened at N0.28 and closed at N0.36 up N0.08.

Chams has had a spot in the top 10 gainers list, for the last three weeks, and is up by 80% year to date.  

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This week, the stock was marked down by N0.03, following a dividend payment.  

First Aluminum Plc 

First Aluminum Plc opened the week at N0.32 and closed at N0.41, up N0.09 or 28.13%. Year to date, the stock is up 13.89%. 

Dangote Flour Mills  

Dangote Flour Mills appreciated by 27.38% this week. The stock opened at N8.40 and closed at N10.70, up N2.30.  Year to date, the stock is up 56.2%. 

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Access Bank Plc  

Tier one lender, Access Bank Plc, gained 15.13% this week. The stock opened at N5.95 and closed at N6.85, up N0.90. Year to date, the stock is up 0.74%. 

The bank released its first quarter 2019 results this week. Gross earnings rose from N137 billion in 2018 to N160 billion in 2019. Profit before tax increased from N27.2 billion in 2018 to N45.1 billion in 2019. Profit after tax jumped from N21.9 billion in 2018 to N41.1 billion in 2019.  

A conference call was held following the release of the results.  

AIICO Insurance Plc  

AIICO Insurance Plc gained 10.29% this week. The stock opened at N0.68 and closed at N0.75, up N0.07. Year to date, the stock is up 19.05%. 

AIICO Insurance Plc released its results for the 2018 financial year. Gross Premium Increased from N32 billion in 2017 to N37.6 billion in 2018. Profit before tax rose from N3 billion in 2017 to N3.4 billion in 2018. Profit after tax also increased from N1.2 billion in 2017 to N3.1 billion in 2018.  

A dividend of N0.06 per share was declared.  

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The Initiates Plc  

The initiates Plc appreciated by 9.59% this week. The stock opened at N0.73 and closed at N0.80, up N0.07. Year to date, the stock is up 19.40%. 

Livestock Feeds Plc  

Livestock Feeds Plc opened the week at N0.55 and closed at N0.60, up N0.05 or 9.09%. Year to date, the stock is up 22.45%. 

Cadbury Nigeria Plc  

Cadbury Nigeria Plc appreciated by 8.91% this week. The stock opened at N10.11 and closed at N11, up N0.90. Year to date, the stock is up 10%. 

Nestle Nigeria  

Nestle Nigeria Plc opened the week at  N1,456 and closed at N1,580, up 8.52%. Year to date, the stock is up 6.4%. 

Consolidated Hallmark Insurance Plc  

Consolidated Hallmark Insurance rounds up the top 10 gainers for the week. The stock opened at N0.24 and closed at N0.26, up N0.02 or 8.33%. 

 Year to date, the stock is up 31.58%. 

Losers 

ABC Transport Plc  

ABC Transport Plc was the worst performing stock this week. The stock declined by 7.50%, opening at N0.40 and closing at N0.33. Year to date, the stock is up 13.79%. 

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Royal Exchange Plc  

Royal Exchange Plc shed 12% this week. The stock opened at N0.25 and closed at N0.22, down N0.03. Year to date, the stock is flat.  

United Capital Plc  

United Capital Plc fell by 11.43% this week. The stock opened at N2.80 and closed at N2.48, down N0.52. Year to date, the stock is down 12.06%. 

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The company released its Q1 2019 results this week. Gross earnings fell from N2.2 billion in 2018 to N1.4 billion in 2019. Profit before tax declined from N1.4 billion in 2018 to N766 billion in 2019. Profit after tax also dropped from N1.2 billion in 2018 to N644 million in 2019.  

I Leasing Plc  

& I Leasing Plc shed 9.89% this week. The stock opened at N7.99 and closed at N7.20, down N0.79. Year to date, the stock is up  304.49%. 

AG Leventis Plc  

The conglomerate opened the week at N0.31 and closed at N0.28, down 9.68%. Year to date, the stock is up 3.7%. 

UPDC  

UPDC Plc fell by 9.64%. The stock opened at N1.66 and closed at N1.50, down N0.16. Year to date, the stock is down 21.47%, and is at its lowest price point this year.  

John Holt Plc 

John Holt Plc declined by 9.62% this week. The stock opened at N0.52 and closed at N0.47, down N0.05. Year to date, the stock is up 6.82% 

Vitafoam Nigeria Plc  

Vitafoam Nigeria Plc declined by 9.09% this week. The stock opened at N3.85 and closed at N3.50, down N0.35. Year to date, it is down 20.45% and is at its lowest price point so far this year.  

Julius Berger Nigeria Plc  

Julius Berger also shed 9.09% this week. The stock opened at N27 and closed at N25, down N2.50. Year to date, the stock is up 24.38%. 

Niger Insurance Plc 

Niger Insurance rounds up the top 10 losers for the week. The stock opened at N0.22 and closed at N0.20, down N0.02 or 9.09%. Niger Insurance is down 16.67% year to date.  

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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Company Results

SAHCO suffers 92% decline in profit, as travel restrictions bite harder

Analysis of the company’s results indicates that revenues dipped as a result of COVID-19 travel restrictions.

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SAHCO suffers 92% decline in profit, as travel restrictions bite harder

Skyway Aviation Handling Company Plc (SAHCO), reported revenues of N3.1 billion in the second quarter of 2020 compared with N3.5 billion in the same period in 2019. This represents an 11.9% decrease relative to the same period last year.

SAHCO Plc, formerly known as Skypower Aviation Handling Company Plc, prior to its privatization, is 100% owned by the Sifax Group, and incorporated as an Aviation Ground Handling Service Provider under the Nigerian Company & Allied Matters Act of 1990. SAHCO Plc’s duties involve all the actions that take place from the time an aircraft touches down on the tarmac, to the time it is airborne. The company also ensures that the right assignment is carried out in an efficient, speedy, and safe manner, deploying the right tools.

A careful analysis of the latest results of the company indicates that revenues dipped as a result of COVID-19 travel restrictions. Travel restrictions affected SAHCO Plc’s operations, but an increase in revenues from domestic and foreign cargo handling gave the company a lifeline amidst business uncertainties.

SAHCO Plc has 10 revenue-generating segments: foreign handling, domestic handling, cargo handling – export, DCS/PAX handling, cargo handling – domestic, equipment rental, investment property, pilgrimage, haulage/crew bus services, and airport security services.  Revenues from eight of these segments declined in Q2 2020, compared with the same period last year; however, revenues from cargo handling increased.

(READ MORE:NAHCO retrieves Ethiopian Airlines handling deal)

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Revenues from cargo handling – income increased by 16.04% to N2.2 billion in the current period, compared with  N1.9 billion in the same period last year. Revenues from cargo handling – export increased by 8.26% to N146.7 million in the period under review, relative to N135.5 million in the same period last year.

It is expected that performance would improve, following the lifting of foreign travel restrictions on the 5th of September 2020. However, things may not transform sooner, as there are one or two challenges facing the sector. For example, although travel restrictions have been lifted, the conditions passengers have to meet before travel, may be overwhelming for some people to go through; thus, the number of travelers is not expected to peak yet.

The Earnings Per Share (EPS) of the company declined by 92.11% in Q2 2020, from 12.67 kobo to 1 kobo, compared with the same period last year. The decline in distributable profit by 93.34% to N11.42 million in Q2 2020, relative to N171.50 million in Q2 2019, contributed to this decline.

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SAHCO Plc’s shares were listed on the floor of the NSE on April 26th, 2019. The shares currently trade at N2.93 per unit. The highest price for a unit of share in 52 weeks was N4.19 and the lowest N1.42. A total of 20,391 units was sold in the last seven days trades. Shares outstanding is 1,353,580,000 units and its market capitalisation is N3,965,989,400 billion.

(READ MORE:FG travel restrictions on 13 countries: A little too late?)

Nigerian Aviation Handling Company Plc (NAHCO), operates in the same sub-sector as SAHCO Plc – transport-related Services. NAHCO Plc’s share price is N2. The highest price for a unit of share in 52 weeks was N3.01 and the lowest is N1.90. A total of 8,162,828 units was sold in the last seven days trades. Shares outstanding is 1,624,218,750 units, and its market capitalisation is N3,248,437,500 billion.

With the surge in cargo revenues, SAHCO Plc recently received delivery of new Ground Support Equipment (GSE). This is expected to improve its ground power operations, in terms of cargo and passenger loading operations, as well as aircraft mobility. The newly acquired fleet of equipment consisted of 50 Cargo pallet dollies, 45 container dollies, 3 passengers step loaders, and 50 baggage tag machines. The company also recently introduced a branded Ankara uniform for its frontline operating staff. The MD of the company, Mr. Basil Agboarumi, noted that the reasoning behind the branded uniform is to showcase the Nigerian culture to the world.

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Cryptocurrency

Oil prices down, COVID-19 weighs hard on traders

Oil traders are concerned about the blurred demand outlook in the short term.

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Crude oil prices rebound ease investors’ concerns for Nigeria debt market, How substantial is compliance for the Oil market?, Crude Oil price soars high on new COVID-19 vaccine

Oil prices dragged lower at Monday’s trading session in Asia. Traders are deeply worried over rising COVID-19 cases upsetting hopes for a smooth recovery in energy demand, with both main oil benchmarks on track for their first monthly declines in multiple months after last week’s plunge.

What we know: Brent crude (LCOc1) dropped by 0.69%, to trade at $41.63 a barrel by 05.54 GMT after losing 2.9% last week.

West Texas Intermediate (CLc1) was down, trading at $39.44 a barrel, losing about 0.77%, following a 2.1% decline last week.

READ: NNPC says local operators must improve capacity to achieve low cost of oil production

Oil traders are concerned about the blurred demand outlook in the short term, as an unexpected build in oil production coupled with additional oil supplies by Libya, rattled the nerves of oil traders.

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Still, OPEC Secretary-General, Mohammad Barkindo, disclosed yesterday that commercial oil inventories in OECD countries are expected to stand only slightly above the five-year average in the first quarter of 2021, before falling below that level for the rest of 2020.

READ: Gold prices suffer worst W/W decline since March

Stephen Innes, Chief Global Market Strategist at AxiCorp, in a note to Nairametrics, spoke on political macro weighing down on oil prices at the moment. He said:

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Reports that ministers in the UK are preparing to enforce ‘total’ social lockdown across many Northern Britain and London could cap prices this morning. Sure, this could be an ‘overreaction’ in an attempt to clamp down on further anti-lockdown protests after the massive anti demonstration at Trafalgar square on the weekend, which could eventually prove to be a Covid-19 hot spot.” 

READ: S&P 500 futures suffer longest run of losses since February

The surge in the Covid-19 onslaught, marked by record numbers of cases in Western Europe and the United States, prompted the strengthening of various countries’ COVID-19 restrictions which continue to weigh heavily on demand for gasoline.

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Cryptocurrency

18,500,000 Bitcoins in circulation

This means there is less than 2.5 million BTCs left, or about 11.9% of the total Bitcoin to be generated.

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Bitcoin users rise in Nigeria despite Senate, CBN campaign against it, Nigerians losing millions to crypto fraud, Investing in cryptocurrencies in this economic shutdown, Bitcoin could hit above $100,000 by August 2021, Hedge funds, Institutional investors rush to have a stake in Bitcoin, An unknown Bitcoin whale moved $1.3 billion in few mins. Binance, Bitfinex Coinbase, Huobi, receive about 40% of all BTCs , How to buy and sell bitcoins in Nigeria

There are now over 18,500,000 BTCs in circulation. A tweet, recently released by ChartBTC disclosed that the amount of BTC left is about 18.5 million.

This means that there is less than 2.5 million BTCs left, or about 11.9% of the total Bitcoin to be generated.

READ: Bullish Signs: 2.6 million Bitcoins are being held on crypto exchanges

 

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Explore the Nairametrics Research Website for Economic and Financial Data 

As the issuance of new BTCs is halved every 4 years, the last BTC is not expected to be mined until 2140. No new Bitcoin can be mined after that year.

Recall that about three months ago, Nairametrics wrote on how Bitcoin was becoming difficult, as about 60% of BTCs in circulation (18.5 million BTCs) were held by business entities or individuals that had never sold more than 25% of BTCs that they had been holding as long-term investments.

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READ: An all-time high 26,054,215 BTC wallets are smiling to the bank

What you need to know: Only 21 million BTCs are ever going to be produced in total, and presently, there are about 18.5 million BTCs in circulation. This shows a differential of about 2.5 million BTCs that are left to be produced.

Chainalysis, a crypto analytic firm, wrote a report explaining how most BTCs are held by those who treat it as digital gold, stating;

READ: BTC bounty: 69,000 Bitcoins worth $700 million waiting for you

“This digital gold is supported by an active trading market for those who prefer to buy and sell frequently. The 3.5 million Bitcoins used for trading supplies the market and in interaction with the level of demand, determines the price. With more people looking to trade Bitcoin, which is only becoming scarcer following the recent halving.”

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