SWOOTs market capitalisation loses N67 billion after depreciating by 0.34%

Although the NGX All-Share Index and market capitalization gained 0.12% to close at 52,657.88 and N28.657.88 trillion respectively, stocks worth over one trillion (SWOOTs) recorded a dip. 

According to data seen by Nairametrics, the combined market capitalization of stocks worth over one trillion (SWOOTs) depreciated by 0.34% to close at N19.89 trillion from N19.95 trillion the previous week, reflecting a loss of N67.36 billion. 

Stocks included in this classification are AIRTEL AFRICA, BUA CEMENT, DANGOTE CEMENT, BUAFOODS and MTNN Plc. Their performances are highlighted below. 

Dangote Cement Plc – N266.90 

Dangote Cement Plc’s share price ended the week at N266.90 from N265.00 at the end of the last trading week to gain N32.37 billion. 

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 N4.54 trillion as of market close this week. 

Dangote Cement Plc is now the third 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. 

MTNN Plc – N225.00 

MTNN Plc’s share price dipped during the week to close at N225.00 from N229.90 it closed the previous week. Similarly, the telecom’s market cap declined to close the week at N4.58 trillion from N4.67 trillion in the previous week.  

As a competitor of Airtel Nig Plc, MTN’s total market capitalization is N1.47 trillion lower than Airtel Africa’s current market value. 

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

Airtel Africa Plc – N1,610.00 

Airtel Africa Plc’s share remained unchanged to close the week at N1,610.00 at the end of the week. Market capitalization also remained at N6.05 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 second-most capitalized stock, far behind. 

The telecom giant released its financial statement for half the year ended September 2022 revealing a 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%). 

Bua Cement Plc – N99.45 

Bua Cement’s share price remained unchanged to close at N99.45 at the end of the trading week. Similarly, its market cap closed remained at N3.37 after trading activities for the week. 

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. 

BUA Foods Plc – 74.50 

BUA Foods Plc’s share price closed the week at N74.50, the same amount it closed last week. Similarly, the market cap remained unchanged at N1.34 trillion at the end of the trading week. 

BUA Foods posted a net profit after tax of N68.76 billion in 9 months of 2022, a 17.2% increase from N58.7. Revenue for the period was N290 billion, from N241 billion in the same period last year.