In the month of July, the consumer goods index depreciated by 0.54% as shares of Presco Plc, Nigerian Breweries, International Breweries, Honeywell Flour and Dangote Sugar declined in value compared to the previous month.
These shares weighed down the collective index by 54 basis points. However, despite this negative strain on the Consumer Goods Index, six (6) companies/stocks appreciated during the period, while 8 of them remained flat.
The summary of these companies performance is outlined below.
FTN COCOA PROCESSORS PLC
- FTN Cocoa Processors Plc is a Nigeria-based agro-allied company. The company is engaged in the processing of Cocoa Beans and Palm kernels into Cocoa Cake, Liquor, Butter, Powder, Palm Kernel Oil and Palm Kernel cake. The company exports cocoa cake, liquor and butter to local manufacturing companies.
- The share price of the company appreciated by 45.45% from N0.33 at the start of the month to N0.48.
- The growth could be partly attributed to the anticipation of the board of directors to raise capital of N1.4 billion upon approval by shareholders, which was disclosed by the company on June 22.
- Meanwhile, FTN Cocoa Processors Plc released their financial result for the second quarter ended 30th June 2021 which revealed that revenue for the period declined by N90.26 million, while loss after taxation was declared of N690 million in the current period, from a net loss of N189 million.
- Year-to-date, the share price has declined by 27.27%.
GUINNESS NIG PLC
Guinness Nigeria Plc is a beverage manufacturing company. The company offers beverages under various categories, such as spirits, beers, ready-to-drink and non-alcoholic. The company is engaged in brewing, packaging, marketing and selling of Guinness Foreign Extra Stout, Guinness Extra Smooth, Malta Guinness and so on.
- The share price of the company appreciated by 8.62% from N29.00 at the beginning of the month and closed at N31.5 per share.
- There are no indicators as to what triggered the share price to move in this direction.
- Guinness Nigeria Plc is yet to release its Audited Financial Statements for the year ended June 30, 2021.
Year-to-date, the share price has appreciated by 65.79%.
CHAMPION BREWERIES PLC
- Champion Breweries Plc, formerly Champion Breweries Limited, is a Nigeria-based company engaged in the brewing business. The company’s principal activity is to carry on the business of brewing and marketing of alcoholic and non-alcoholic beverages in Nigeria, as well as provide contract brewing and packaging services to Nigerian Breweries Plc.
- The share price of the company appreciated by 7.14% month-on-month from N2.10 at the start of the month to N2.25.
- The company recently released its Q2 2021 financial result, which showed that revenue for the period increased by 72.7% from N1.43 billion in the corresponding quarter of 2020 to N2.47 billion in the current period.
- Similarly, net profit for the period went from a loss of N18.29 million recorded in the previous period to N233.30 million in the current period.
- Year-to-date, the share price has appreciated by 161.63%.
- Cadbury Nigeria Plc – 5.88%
- Nascon Allied Industries Plc – 0.70%
- Flourmills Plc – 0.67%