SWOOTs capitalization gains N27 billion

The combined market capitalization (SWOOTs) appreciated by 0.14% to close at N19.53 trillion, from N19.50 trillion the previous week, reflecting a gain of N27.42 billion. Stocks included in this classification are Airtel Africa, BUA Cement, Dangote Cement, Nestle, BUA Foods, and MTNN Plc.  

Stock performance 

• Bua Cement Plc – N52.00

Bua Cement’s share price appreciated by 8.67% at the end of the trading week to stand at N52 from N47.85 at the end of last week. Similarly, its market cap stood at N1.76 trillion from N1.62 trillion gaining a total of N140.54 billion. 

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. 

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• MTNN Plc – N199.8 

MTNN Plc’s share price, at the end of the trading week, depreciated by 0.15% to close at N199.8 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 N3.45 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. 

• Nestle Nigeria Plc – N1,215.00 

Nestle Nigeria Plc’s share closed at N1,215.00 per share to lose 10% from the amount it traded at the end of the trading week last week.  

Amidst sell-offs and buy-interests during the trading week, market capitalization lost a whopping N107.01 billion, causing the fast-moving consumer goods company to drop off the category of stocks worth over one trillion. 

Nestle’s market capitalization was valued at N963.08 billion, compared to the N1.07 trillion it valued at the end of last week.  

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 were N12.33. 

Other companies under the SWOOT classification remained unchanged in share prices and their performances are summarized below: 

• Dangote Cement Plc – N245.00 

Dangote Cement Plc’s share price was unchanged at N245.00 at the end of the trading 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 N4.17 trillion as of 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– 58.3 

BUA Foods Plc’s share price remained unchanged at the end of the trading week. Its market capitalization also remained at N1.05 trillion. 

BUA Food 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 in the same period last year.  

• Airtel Africa Plc – N2,000.00

Airtel Africa Plc’s share price remained unchanged as market capitalization was valued at N7.52 trillion at the end of the trading week. 

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. 

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