• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Markets Equities Stock Market

Mad Returns: This Nigerian company gained 60% in one week

Its market capitalization currently stands at ₦437,778,000.00...

Ajibola Akamo by Ajibola Akamo
May 16, 2022
in Stock Market
McNichols Consolidated Plc appoints Temitope Abefe Adebayo as CFO
Share on FacebookShare on TwitterShare on Linkedin

McNichols’ share price posted gains of 59.52% last week, leading the top gainers of the trading week as investors react bullishly to an updated corporate announcement that has seen them not only get a N0.03 dividend but also bonus issues of shares.

In the last four weeks, we have seen MCNICHOLS gain over 90% to currently stand at N1.34 per share. Its market capitalization currently stands at N437,778,000.00, also gaining over 90%, for the trading week.

MCNICHOLS is the top performer in what turned out to be a very bullish and record-breaking week for the Nigerian Exchange, as its All-Share Index gained 4.25% to currently stand at 53,098.46 basis points, the highest point for the year. For the first time in 14 years, the NGX crossed the 50,000 BP threshold on the back of strong earnings reports and increased local participation.

RelatedStories

Mad Returns: McNichols adds another 60% for the week

Mad Returns: McNichols adds another 60% for the week

May 23, 2022
NGX extends market downturn by N19 billion

Weekly Stock Update: Nigerian local bourse’s ASI depreciates by 0.22% w-o-w

May 21, 2022

During the trading week, 50 equities appreciated in price during the week, higher than 49 equities in the previous week. Also, during the week, 32 equities depreciated in price, the same as the 32 equities in the previous week. 74 equities remained unchanged lower than 75 equities recorded in the previous week.

What you should know

  • McNichols Consolidated is a manufacturing firm that packages and markets a range of fortified sugar products in Nigeria. This includes granulated sugar, cube sugar, icing sugar and baking sugar. The company also produces a range of chocolate powder and custard powder.
  • The company is an indigenous homegrown fast-moving consumer brand food and beverage company and it is committed to enhancing the quality of life and contributing to a healthier future of Nigerians. They commenced operations in April 2005.
  • The rally in its share price came after the company updated its dividend announcement to include the issue of share bonuses to its shareholders.
  • At the beginning of April, the company announced that it was only proposing a dividend of N0.03 for every share of N0.50. However, After the company’s board meeting on the 27th of April 2022, the board voted to approve a bonus issue to add to its dividend proposal.
  • This means shareholders who own the stock by the qualification date, slated on the last day of June 2022, will not only be entitled to a N0.03 dividend, but also six additional shares for every five shares owned by that time.
  • Also weighing in on the bullish sentiment is the company’s stellar first-quarter performance that showed promise for the company’s future. The company was able to grow its revenue by 33.72% from N162 million to N218 million Year-on-Year. Despite the increased cost of sales and selling, marketing and administrative expense in the first quarter of 2022, the company was able to increase its profit before tax by 20.16%.
  • Because the company recorded N3.8 million for other comprehensive income, it put the company’s profit after tax (PAT) at N11 million, up by 74.70%.
  • During the trading week, we saw a spike in the volume of MCNICHOLS shares, with more shares changing hands than average. The highest volume during the trading week was posted on Thursday, as it recorded a volume of 353,050.
  • On Friday, its share price traded at a 52-week high of N1.34 as it gained 9.84% on the trading day in question. In fact. Its share price gained over 9% for all five trading days for the week.
  • MCNICHOLS began the year with a share price of N0.77 and has since gained approximately 74% on that price valuation, ranking the 16th on the NGX in terms of year-to-date performance.

McNichols is the 109th most traded stock on the Nigerian Stock Exchange over the past three months. MCNICHOLS has traded a total volume of 2.05 million shares, in 38 deals, valued at N1.9 million over the period, with an average of 32,512 traded shares per session. A volume high of 380,199 was achieved on April 26th for the same period.


Follow us for Breaking News and Market Intelligence.
Tags: MCNICHOLS
Ajibola Akamo

Ajibola Akamo

Ajibola Akamo is an Investment Analyst, Financial Analyst, Economist and Accountant. You may contact him via his email ajibolaakamo@yahoo.com

Related Posts

Mad Returns: McNichols adds another 60% for the week
Company News

Mad Returns: McNichols adds another 60% for the week

May 23, 2022
NGX extends market downturn by N19 billion
Stock Market

Weekly Stock Update: Nigerian local bourse’s ASI depreciates by 0.22% w-o-w

May 21, 2022
Nigerian Stock Exchange, Nigerian Stocks, Daily market summary, NSE, Bourse bows to bears as ASI dip 0.55% on Friday, NSE: Bears dominant reign continues as ASI shed 4.91% on Tuesday, Bearish trend persists at Nigerian Stock Exchange, as investors lose N456 billion, Bears return, Nigeria’s local bourse drops 0.12%, Bears return Nigeria's ASI index down 3.12% Investors lose N370 billion, Bulls lift Nigerian bourse up 0.10%, as trading volume picks up,  BUACEMENT, CADBURY, WAPCO Bring the Bears to Party, Investors Lose N198.05 Billion
Stock Market

The NGX closes the week bearish, dips by over N150 billion in market cap

May 20, 2022
Nigerian Stocks had a fantastic week and these stocks that gained the most
Stock Market

Weekly Stock Update: NGX ASI makes record gains of 4.25% w-o-w

May 14, 2022
Next Post
NGX, FX ,

Popoola restates NGX ambition to provide a platform for issuers and investors to meet their financial and investment objectives

Comments 1

  1. Chimaraoke says:
    May 19, 2022 at 10:37 pm

    The sugar packet you are using to depict McNichols is out dated, it was changed about 3 years ago. Please send me your email address or whatsapp contact for current pictures on McNichols so that your readers can identify with your story. Thank you.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • Trump courts African mineral-rich nations, snubs Nigeria and South Africa in strategic White House summit 
  • Senate passes 2025 Electricity Act Amendment Bill for second reading to address sector collapse 
  • NECO releases 2025 BECE results, fixes July 23–24 for re-sit exams nationwide 

Follow us on social media:

Recent News

Trump halts tariff hikes on most trade partners, raises China duties to 125% 

Trump courts African mineral-rich nations, snubs Nigeria and South Africa in strategic White House summit 

July 9, 2025
Sterling Bank CEO advocates for AI dev’t to maintain global competitiveness

Senate passes 2025 Electricity Act Amendment Bill for second reading to address sector collapse 

July 9, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics