The combined market capitalization of stocks worth over one trillion (SWOOTs) depreciated by 8.40% to close at N17.19 trillion from N18.76 trillion during the previous week, reflecting a loss of N1.58 trillion. Stocks included in this classification are AIRTELAFRICA, BUA CEMENT, DANGOTE CEMENT, BUAFOODS and MTNN Plc.
Stock Performance
- Airtel Africa Plc – N1,312.2
Airtel Africa Plc’s share price fell drastically during the week from N1,800.00 to N1,312.20. Similarly, the market capitalization of the telecom company dropped from N6.76 trillion to N4.93 trillion at the end of the trading week.
Despite the huge loss, 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 that 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.
- Bua Cement Plc – N62.00
Bua Cement’s share price appreciated by 19.23% at the end of the trading week while its market cap followed suit to close at N2.10 trillion from N1.76 trillion gaining a total of N338.64 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 – N195.00
MTNN Plc’s share price depreciated by 2.01% to close at N195.00 per share, taking its market capitalization to N3.97 trillion at the end of the trading sessions of the week.
As a competitor of Airtel Nig Plc, MTN’s total market capitalization is N962 billion 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.
The share prices of two other companies under the SWOOT classification remained unchanged. 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 24% 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.
