The shares of Livestock Feeds Plc have gained N1.6 billion since the open of trade on the Nigerian Stock Exchange this year, as investors continue to bid the shares of the company higher, owing to the impressive financial results of the company in Q3 2020.
This was uncovered by Nairametrics after tracking the performance of the shares of the company on the floor of the Nigerian Stock Exchange, from 4 January 2021 when the exchange opened for year 2021.
The checks revealed that the company has gained N1,589,999,691.54 largely on the back of the robust fundamental strength of the company and its impressive financial performance in 2020.
It is important to note that the buying interest in the shares of the company saw the market capitalization of the company increase from N4.2 billion to N5.8 billion alone this year.
What you should know
- The impressive financial performance of the company has made analysts to review their models, as well as the fair value of the shares of the company.
- This was necessary as the profit after tax of the company increased by 828% in Q3, while its profits in the first nine months of 2020 increased by 2247%.
