The Nigerian Stock Exchange ended the first trading week in the month of May on a negative note. The All Share Index closed at 29,212 basis points, down 1.78%. Year to date, the index is down 7.06%.
32 equities appreciated in price during the week, higher than 30 in the previous week. 44 equities depreciated in price, higher than 40 equities in the previous week, while 92 equities remained unchanged, lower than 97 equities recorded in the preceding week.
Gainers
Japaul Oil & Gas Services Plc
Japaul Oil and Maritime Services was the best performing stock of the week, continuing a bull run that started last month. The stock gained 39.29%, opening at N0.28 and closing at N0.39, up N0.11.
Year to date, the stock is up 85.71%.
Julius Berger Nigeria Plc
Julius Berger opened the week at N22.50 and closed at N26.95, up N4.45 or 19.78%. Year to date, the stock is up 34.08%.
Forte Oil Plc
Forte Oil gained 19.69% this week. The stock opened at N29.20 and closed at N34.95, up N5.75. Year to date, the stock is up 21.71%.
The company this week released its results for the first quarter ended March 2019. Revenue increased from N28.3 billion in 2018 to N42.5 billion in 2019. Profit for the period (including discontinued operations) rose from N2.9 billion in 2018 to N3.3 billion in 2019.
The company has proposed a special dividend of N1.15 from the proceeds of the divestment of its subsidiaries, which resulted in an overall net gain of N2.67 billion.
While the sale of AP Oil and Gas Ghana to Cobalt International Services (Ghana) has been concluded, the sale of Forte upstream and Amperion power are subject to relevant regulatory and contractual approvals.
The company has entered into sale and purchase agreements for Amperion Power and Forte upstream with Calvados Global Services and Gbonka Oil and Gas Limited respectively.
Jaiz Bank Plc
Jaiz Bank makes a surprise entry into the gainers chart today. The stock opened at N0.48 and closed at N0.54, up N0.06 or 12.50%.
This week, the bank released its results for the first quarter ended March 2019. Total income increased from N1.6 billion in 2018 to N2.3 billion in 2019. Profit before tax rose from N146 million in 2018 to N476 million in 2019. Profit after tax also increased from N124 million in 2018 to N424 million in 2019.
Year to date, the stock is up 8%.
UACN Property Development Company Plc
UPDC appreciated by 12% this week. The stock opened at N1.50 and closed at N1.68, up N0.18. Year to date, the stock is down 12.04%.
The company released its results for the first quarter ended March 2019, this week. Revenue dipped from N591 million in 2018 to N507 million in 2019. The company’s losses for the period also rose from N899 million in 2018 to N1 billion in 2019.
Transcorp Plc
Transcorp Plc opened the week at N1.12 and closed at N1.25, up N0.13. Year to date, the stock is down 5.3%
This week, the company announced that a consortium (comprising itself and Transcorp Power) had won a bid for the Afam Power station). The consortium bid N105.3 billion.
Caverton Offshore Support Group Plc
Caverton appreciated by 11.52% this week. The stock opened at N2.69 and closed at N3.00, up N0.31 or 11.52%. Year to date, the stock is up 56.2%.
The company released its Q1 2019 results. Revenue jumped from N4.5 billion in 2018 to N8.3 billion in 2019. Profit before tax also surged from 476 million to N1.2 billion in 2019. Profit after tax also increased from N293 million in 2018 to N793 million in 2019.
Courteville Business Solutions Plc
Courteville opened the week at N0.20 and closed at N0.22, up N0.02 or 10%. Year to date, the stock is up 10%.
This week, the company released its results for the first quarter ended March 2019. Revenue declined by 12% from N308 million in 2018 to N270 million in 2019. Profit before tax however increased from N30.8 million in 2018 to N39.5 million in 2019. Profit after tax also rose from N23.9 million in 2018 to N30 million in 2019.
Veritas Kapital Assurance Plc
Veritas Kapital also gained 10% this week. The stock opened at N0.20 and closed at N0.22, up N0.10. Year to date, the stock is down 4.35%.
Dangote Flour Mills
Dangote Flour Mills rounds up the top 10 gainers for the week. The stock appreciated by 9.97%, opening at N15.55 and closing at N17.10. Year to date, the stock is up 149.64%.
This week, the company released its results for the first quarter ended March, 2019. Revenue fell from N26.5 billion in 2018 to N22.9 billion in 2019. The firm made a N3.5 billion loss before tax in 2019, as against a profit before tax of N2.2 billion in 2019. Loss after tax stood at N2.8 billion in 2019, as against a profit after tax of N1.5 billion in 2018.
Losers
Goldlink Insurance Plc
Goldlink Insurance was the worst performing stock this week. The stock declined by 18.1%, opening at N0.44 and closing at N0.36, down N0.08. Year to date, the stock is down 32.08%
First Aluminum Plc
First Aluminum Plc shed 12.5% this week. The stock opened at N0.48 and closed at N0.42, down N0.06. Year to date, the stock is
The company this week announced it the resignation of its Managing Director Elias Igbinakenzua and the appointment of Callistus Udalor, the former Managing Director, as his replacement.
Royal Exchange Plc
Royal Exchange Plc shed 11.54%. The stock opened at N0.26 and closed at N0.23, down N0.03. Year to date, the stock is however up 4.5%.
Total Nigeria Plc
Total Nigeria Plc opened the week at N182 and closed at N162, down N20 or 10.99%. The stock is trading at its lowest price point this year, and is down 20.2% year to date.
The decline in the results may be due to the company’s poor Q1 2019 results. While revenue increased from N75.6 billion in 2018 to N77.4 billion in 2019, the firm incurred a loss before tax of N418 million as against a N2.6 billion profit before tax earned in 2019.
Loss after tax stood at N474 million in 2019 as against a profit before tax of N1.6 billion in 2018.
Afromedia Plc
Afromedia Plc declined by 10% this week. The stock opened at N0.50 and closed at N0.45, down N0.05. Year to date, the stock is down by the same margin.
McNichols Plc
McNichols Plc opened the week at N0.55 and closed at N0.50, down N0.05 or 9.09%. Year to date, the stock is up 6.38%.
Academy Press Plc
Academy Press Plc opened at N0.33 and closed at N0.30, down N0.03 or 9.09%. Year to date, the stock is down 40%.
NPF Microfinance Bank Plc
NPF Microfinance Bank declined by 9.03% this week. The stock opened at N1.55 and closed at N1.41, down N0.14. Year to date, the stock is down 14.55%.
Cutix Plc
Cutix Plc opened at N2.05 and closed at N1.87, down N0.18 or 8.78%.
Year to date, the stock is up 14.02%.
Oando Plc
Oando Plc rounds up the top 10 losers for the week. The stock opened at N5.30 and closed at N4.85, down N0.45.
Year to date, the stock is down 3%.
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