Connect with us
Advertisement
Alpha
Advertisement
Hotflex
Advertisement
Ho
Advertisement
Advertisement
Advertisement
UBA
Advertisement
Patricia
Advertisement
app

Manufacturing

Guinness Nigeria’s market value surged by N23.8 billion in March 2021

Shares of Guinness Nigeria Plc in the month of March surged by a whopping 47.07%.

Published

on

Guinness Nigeria’s latest financial shows a significant loss 

Shares of Guinness Nigeria Plc in March increased by a whopping 47.07% following sustained buying pressures in the company shares.

This move led to a total of N23.8 billion increase in the market capitalization of the brewing company in March.

Data tracked on the Nigerian Stock Exchange website revealed that the market capitalization of Guinness Nigeria Plc rose from N50.5 billion on the 26th of February to N74.3 billion on the 31st of March.

READ: Oba Otudeko’s stakes in Firstbank and Honeywell are worth over N10 billion

The impressive 47.07% increase in the share price of Guinness was driven by investors buying interest in the shares of the brewer.

The buying interest (driven by the expectation of a sustained reopening of the on-trade channel as restaurants and bars reopen) has seen the shares of the company gain about 78% year-to-date.

READ: Nigeria’s energy future: Why investors should look to hydrogen 

What you should know

The NSE Consumer Goods Index, an investable benchmark designed to track the performance of consumer goods companies like Guinness, depreciated by 3.71% in March following sustained sell down in the shares of listed consumer goods companies on the NSE.

The bearish performance of the index was driven by the decline in the shares of NNFM, Champion Breweries, PZ, NB, Dangote Sugar, and eight others; while shares of Guinness Nigeria Plc and Vitafoam returned a gain of 47.07% and 7.10% for investors respectively.

SSKOHN

Financial performance in Q2 2020/21

Guinness Nigeria Plc in its last quarterly filings revealed that the company made a profit of N524.2 million in the second quarter of its accounting period 2020/21.

During the quarter, the brewer’s revenue increased by a single digit 2.17% year-on-year, however, the rising cost of sales, the increase in administrative expenses, and finance costs pressured Guinness’s profit down 68.9% year-on-year.

Omokolade Ajayi is a graduate of Economics, and a certificate holder of the CFA Institute’s Investment Foundation Program. He is a business analyst, and equity market researcher, with wealth of experience as a retail investor. He is a business owner and a stern advocate of Financial literacy, who believes in the huge economic prospect of the Nigerian Payment channels and Fintech space.

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Manufacturing

Shareholders strike gold as Honeywell, NNFM shares gain N1.8 billion in 4 trading sessions

Shareholders of Northern Nigerian Flour Mills and Honeywell Flour Mills Plc pocket impressive gains.

Published

on

Shareholders of Northern Nigerian Flour Mills and Honeywell Flour Mills Plc have received impressive gains of about N2.02 billion as the shares of the flour milling companies surged to incredible heights in four active trading sessions on the NGX.

According to data tracked on the Nigerian stock exchange from the 15th of April 2020 to the close of the market on the 21st of April, the joint market capitalization of the two flour millers –Honeywell and Northern Nigerian Flour Mills – on NGX increased by a total N2.02 billion.

READ: Oba Otudeko gains N690 million in a single session on NSE

This suggests that in about four trading sessions on the Nigerian Stock exchange, the shares of the two flour millers returned about N2.02 billion market gains to their holders, at the back of sustained buying interest in the shares of these companies.

Bargain hunters who picked up the shares of Honeywell and NNFM at N1.09 per share and N4.90 on the 14th and 15th of April 2021 respectively, were able to maximize their gains to the tune of about 30% and 20% respectively in about 4 to 5 trading sessions on the Nigerian equity market.

READ: Flour Mills shares surge by 6.9%, lifting the miller’s capitalization by N8.2 billion

The impact on the market capitalization of Honeywell and NNFM

The double-digit gains in the shares of Honeywell Flour Mills saw the market capitalization of the flour milling company surge by about N1.82 billion in total, from N9.44 billion on the 15th of April 2021 to N11.26 billion at the close of trading activities yesterday.

The market capitalization of Northern Nigerian Flour Mills Plc in reaction to the gains in its share price, surged from N873 million on the 15th of April 2021 to N1.07 billion at the close of trade on the NSE yesterday, placing the total gains at N197 million.

READ: Dangote Flour Mills shareholders unanimously approve company acquisition  

SSKOHN

The total market value gains of Honeywell Flour Mills Plc and Northern Nigerian Flour Mills Plc in four days are put at about N2.017 billion, despite the lacklustre state of the Nigerian equity space.

What you should know

  • At the close of trading activities yesterday, the NGX All-Share Index and market capitalization appreciated by 0.29% to close higher at 39,128.34 index points and N20.477 trillion respectively.
  • While the NGX Consumer goods index, an index that tracks the performance of the shares of consumer goods companies like NNFM and Honeywell on the Nigerian Stock Exchange, depreciated by -0.35% to close at 553.26 index points.

Continue Reading

Manufacturing

Honeywell shares surge by 10% in a day, lifting the miller’s capitalization by N1.03 billion

Honeywell’s market price cleared on Tuesday at N1.43 per share, which was 20% higher than Monday’s N1.30 closing price.

Published

on

Honeywell gains 10% in today’s trading session, as investors scamper for shares of the company

Shares of Honeywell Flour Mills Plc., a major flour milling company in Nigeria, surged by 10%, lifting the company’s market capitalization by N1.03 billion at the close of trading activities on the Nigerian Stock Exchange on Tuesday.

The impressive N0.13 per share or 10% gain in the shares of Honeywell was driven by the buying interest in the shares of the flour miller, as investors bid the shares of the indigenous miller high in yesterday’s session.

This bullish move in the shares of the miller pushed its market capitalization up by about N1.03 billion on the exchange, from N10.31 billion at market open to N11.34 billion at the close of the market.

READ: Nigerians increasingly using Bitcoin since CBN’s Crypto ban

Market activity

Honeywell’s market price cleared on Tuesday at N1.43 per share, which was 20% higher than Monday’s N1.30 closing price.

During trading hours on the Exchange, about 8,935,946 ordinary shares of Honeywell Flour Mills Plc worth about N12.56 million, were exchanged in 150 executed deals on the Nigerian Stock Exchange on Tuesday.

However, the performance of other flour millers on the exchange was rather bland as shares of Flour Mills Nigeria Plc., and Northern Nigerian Flour Mills closed flat at N31.00 per share and N5.85 per share respectively.

READ: NSE-30 companies lose N1.13 trillion in market capitalisation year-to-date

What you should know

  • The Nigerian Stock Exchange All-Share Index and Market Capitalization appreciated by 0.43% to close the day higher at 39,015.58 index points and N20.418 trillion respectively.
  • The NSE Consumer Goods Index, an investable benchmark designed to track the performance of consumer goods companies like Honeywell Flour Mills, appreciated by 0.38% to close the day higher at 555.22 index points.

SSKOHN
Continue Reading

  





Nairametrics | Company Earnings

Access our Live Feed portal for the latest company earnings as they drop.