The combined market capitalization of stocks worth over one trillion (SWOOTs) appreciated by 1.58% to close at N20.74 trillion from N20.41 trillion the previous week, reflecting a gain of N316.86 billion. Stocks included in this classification are AIRTELAFRICA, BUA CEMENT, DANGOTE CEMENT, NESTLE and MTNN Plc.
Stock Performance:
Airtel Africa Plc – N1,905.40
- Airtel Africa Plc’s share price was up by 10.00%. In figure, the amount gained is N170 billion during the week as the share price increased from N1,732.20 to stand at N1,905.4 per share at the end of the trading week, with a market capitalization of N7.16 trillion.
- Airtel Africa Plc saw the most change that shook the SWOOTs during the week. As the most capitalized company on the exchange once again, it led the SWOOTs strongly, with MTNN, its competitor and second-most capitalized stock, far behind.
- The telecom giant released its 2021 9-month Unaudited Financial Statement revealing a 22.5% growth in revenue from $2.85 billion in 2020 to $3.49 billion in the current period.
- Net profit for the nine-month period appreciated significantly by 97.3% from $261 million in 2020 to $514 million.
BUA Cement Plc – N69.30
- BUA Cement Plc’s share price declined by 3.62% to close the week at N69.30. This led to a decline in the market capitalization by N88 billion to close at N2.35 trillion at the end of the trading.
- The company’s Q1 2022 financial report revealed revenue of N96.99 billion, reflecting a growth of 58% from N61.19 billion in 2021. Similarly, net income increased by N11 billion, reflecting a 48% increase from N22.37 billion recorded in the corresponding period of 2021, to N33.144 billion in the current period.
Dangote Cement Plc – N265.00
- Dangote Cement Plc’s share price closed the week at N265.00, a decline from the previous week as the market capitalization also went down by N170 billion. The company, which is a competitor of BUA Cement Plc and Wapco Plc, and is the most capitalized cement producer on the NGX, has a total market capitalization of N4.51 trillion.
- Dangote Cement Plc is the third most-valued company quoted on the exchange and makes up roughly 22% of the total market capitalization of all stocks worth over one trillion.
- The Q1 2022 financial result revealed a profit of N105.85 billion during the period, representing an 18% increase Y-o-Y. Meanwhile, revenue for the period stood at N413.18 billion, a 24.20% increase from the corresponding period of 2021.
Other companies under the SWOOT classification remained unchanged in share prices and their performances are summarized below:
MTNN Plc – N230.30
- MTNN Plc’s share price at N230.30 remained flat at the end of the trading sessions of the week. The communications company has a total market capitalization of N4.69 trillion, N2.47 trillion lower than Airtel Africa’s current market value.
- MTNN Plc is the second-highest in market value on the Nigerian Exchange Limited (NGX). The company released its Q1 2022 financial result, reflecting a 22.23% growth in revenue for the period, while profit after tax grew significantly by 31.28% from N73.75 billion in Q1 2021 to N96.82 billion in the current period.
Nestle Nigeria Plc – N1,400.00
- Nestle Nigeria Plc’s share price stood unchanged to close the week at N1,400.00 per share, amidst sell-offs and buy-interests during the trading week. The Fast-Moving Consumer Goods company currently has a market capitalization of N1.11 trillion.
- Nestle Nigeria Plc is now the only company under the NGX Consumer goods Index to be worth over a trillion, following the exit of BUA Foods from the SWOOTs category.
- The Q1 2022 financial result revealed a profit of N17.98 billion, representing a 45% increase from the prior-year period as revenue grew by 26%. Earnings per share for the period was at N22.68.
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