The combined market capitalization of stocks worth over one trillion (SWOOTs) depreciated by 2.54% to close at N19.54 trillion from N20.05 trillion the previous week, reflecting a loss of N508.94 billion. Stocks included in this classification are AIRTELAFRICA, BUA CEMENT, DANGOTE CEMENT, NESTLE, BUAFOODS and MTNN Plc.
Stock Performance
MTNN Plc – N200.00
- MTNN Plc’s share price, at the end of the trading week, depreciated by 6.93% to close at N200.00 per share, taking its market capitalization to N4.07 trillion at the end of the trading sessions of the week. As a competitor of Airtel Nig Plc, MTN’s total market capitalization is N3.09 trillion lower than Airtel Africa’s current market value.
- MTNN Plc is the third-most capitalized company on the Nigerian Exchange Limited (NGX). The company released its H1 2022 financial result, reflecting a 20.07% growth in revenue for the period, while profit after tax grew significantly by 28.06% from N141.82 billion in H1 2021 to N181.62 billion in the current period.
BUA Cement Plc – N52.95
- BUA Cement share price was down by 9.95% at the end of the trading week to close at N52.95 from N58.8 last week. The market cap also depreciated by N198.11 billion to close at N1.73 trillion.
- The company’s H1 2022 financial report revealed revenue of N188.56 billion, reflecting a growth of 51.72% from N124.28 billion in 2021. Similarly, profit after tax increased by N17.97 billion, reflecting a 41% increase from N43.40 billion recorded in the corresponding period of 2021, to N61.36 billion in the current period.
Dangote Cement Plc – N258.8
- Dangote Cement Plc’s share price dropped from N265 to N258.8, showing a 2.34% decline. This means that the company lost N105 billion at the end of the trading week as market capitalization declined from N4.52 trillion in the previous week
- The company, which is a competitor of BUA Cement Plc and Wapco Plc, and the most capitalized cement producer on the NGX, has a total market capitalization of N4.69 trillion as at market close this week.
- Dangote Cement Plc is currently the second 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 H1 2022 financial result revealed a profit of N172.10 billion, representing a 33.83% increase Y-o-Y. Meanwhile, revenue for the period stood at N808.04 billion, a 17.01% increase from the corresponding period of 2021.
BUA Foods Plc– 59.95
- BUA Foods Plc share price was valued at N59.95 at the end of the trading week from N54.5 last week. As a result, the share price jumped from N981 billion last week to close the week at N1.08 trillion.
- With the addition of N98 billion, a 10% increase, BUAFOODS has again joined the trillion naira worth of stocks.
- BUA Foods posted a net profit after tax of N39 billion in H1 2022, a 13.7% increase from the N34.56 billion in H1 2022. Turnover for the period was N168.85 billion from N151.73 the same period last year.
Other companies under the SWOOT classification remained unchanged in share prices and their performances are summarized below:
Airtel Africa Plc – N1,905.4
- Airtel Africa Plc’s share price remained unchanged 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 ended the week as the most capitalized company on the exchange once again, leading the SWOOTs strongly, with MTNN, its competitor and third-most capitalized stock, far behind.
- The telecom giant released its Unaudited Financial Statement for the quarter ended June 2022 revealing a 13% growth in revenue from $1.11 billion in 2021 to $1.26 billion in the current period.
- The profit after tax for the period also appreciated significantly by 25.3% from $142 million in 2020 to $178 million.
Nestle Nigeria Plc – N1,300.00
- Nestle Nigeria Plc’s share price stood unchanged to close the week at N1,300.00 per share, amidst sell-offs and buy-interests during the trading week. The Fast-Moving Consumer Goods company currently has a market capitalization of N1.03 trillion.
- The H1 2022 financial result revealed a profit of N27.7 billion, representing a 28% increase from the prior-year period as revenue grew by 30% from N171 billion to N222 billion. Earnings per share for the period was at N12.33.