SWOOTs capitalization up by N250 billion

The combined market capitalization of stocks worth over one trillion (SWOOTs) appreciated by 1.46% to close at N17.43 trillion from N17.19 trillion the previous week. This shows a gain of N250.67 billion during the week under review. Stocks included in this classification are AIRTELAFRICA, BUA CEMENT, DANGOTE CEMENT, BUAFOODS, and MTNN Plc.   

Stocks Performance 

1. BUA Cement Plc – N68.2

Bua Cement’s share price appreciated by 10% at the end of the trading week while its market cap stood at N2.31 trillion up from N2.10 trillion. It gained gained a total of N209.96 billion. 

The company’s Q3 2022 financial report revealed revenue of N74 billion, reflecting a growth of 18.21% from N62.63 billion in 2021. Meanwhile, profit after tax dipped by N9.86 billion, reflecting a 44% decrease from N22.51 billion recorded in the corresponding period of 2021, to N12.65 billion in the current period. 

2. MTNN Plc – N197.00 

MTNN Plc’s share price appreciated by 1.03% to close at N197.00 per share, taking its market capitalization to N4.00 trillion at the end of last week’s trading session. The telco’s market capitalization closed the week at N921.61 trillion, lower than that of its competitor Airtel Africa.   

MTNN Plc is the third-most capitalized company on the Nigerian Exchange Limited (NGX). The company released its Q3 2022 financial result, reflecting a 21.9% growth in revenue to stand at N504.8 for the period from N414.05, while profit after tax grew significantly by 11.4% from N78.48 billion in H1 2021 to N87.41 billion in the current period.  

Note that the share prices of other companies under the SWOOT classification remained unchanged. Their performances are summarized below: 

3. 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 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 23% of the total market capitalization of all stocks worth over one trillion. 

The Q3 2022 financial result revealed a profit of N40.50 billion, representing a 52.67% dip from the N86.6 billion Y-o-Y. Meanwhile, revenue for the period stood at N369.21 billion, an 11.3% increase from the corresponding period of 2021. 

4. 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.  

5. Airtel Africa Plc – N1,312.20 

Airtel Africa Plc’s share price remained unchanged at N1,312.20 as market capitalization was valued at N4.93 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 Financial Statement for half the year ended September 2022 revealing the Profit after tax of $330 million, lower by 1.5% due to higher foreign exchange and derivative losses of $160 million. 

Similarly, it reported Strong revenue growth in constant currency was posted across all four reporting segments as Mobile Services revenue in Nigeria grew by 19.7%, in East Africa by 12.4% and in Francophone Africa by 12.1% (and across the Group by 15.6%, with voice revenue up by 12.0% and data revenue up by 22.1%).