SWOOTs capitalization up by N156 billion

The combined market capitalization of stocks worth over one trillion (SWOOTs) appreciated by 0.83% to close at N18.92 trillion from N18.76 trillion the previous week, reflecting a profit of N155.78 billion. Stocks included in this classification are Airtel Africa, Bua Cement, Dangote Cement, Bua foods and MTNN Plc.  

Stock Performance

• Bua Cement Plc – N56.60
  Bua Cement’s share price appreciated by 8.85% at the end of the trading week while its market cap stood at N1.92 trillion from N1.76 trillion losing a total of N155.78 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.

• MTNN Plc – N199.00
  MTNN Plc’s share price, at the end of the trading week, appreciated by 0.40% to close at N199.00 per share. Its market capitalization closed at N4.05 trillion at the end of the trading sessions of the week. As a competitor of Airtel Nig Plc, MTN’s total market capitalization is N2.71 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.
  
  
• Airtel Africa Plc – N1,800.00
  Airtel Africa Plc’s share price was down by 10% to stand at N1800.00 from N2,000.00 at the end of the trading week. Its market capitalization also fell from N7.52 trillion to a valued N6.76 trillion this 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, the third-most capitalized stock, far behind. 

  The telecom giant released its Unaudited Financial Statement for the quarter that ended June 2022 revealing a 13% growth in revenue from $1.11 billion in 2021 to $1.26 billion in the current period. 

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  The profit after tax for the period also appreciated significantly by 25.3% from $142 million in 2020 to $178 million.

• 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 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 the 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 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 the same period last year.