Article summary
- The company’s stock price rose to N1.32 per share at the close of the trading week from N1.05 which opened at the beginning of the trading week.
- CWG closed the trading week with N3.332 billion in market capitalization as against the opening figure of N2.651 billion.
- The NGX All-Share Index and Market Capitalization appreciated by 0.12% to close the week at 52,465.31 and N28.568 trillion respectively.
Positive sentiment witnessed on shares of Computer Warehouse Group (CWG) Plc resulted in the company gaining 25.71% or in market value at the end of weekly trading to rank the top losers of the week.
Investors have sustained buy pressure on the shares of CWG after it released its unaudited financial statement for the year ended 31st December 2022.
Financial report
The Company’s profit after tax also rose by 6% to N476 million from N449 million it recorded in 2021. It recorded N476.8 million Profit Before Tax (PBT), an improvement from N449.6 million PBT in 2021, with its revenue growing by 21% to N14.2 billion
Based on this, shareholders of the company at its annual general meeting approved a dividend of 4.0 kobo per share.
Gain
Checks by Nairametrics showed that the company’s stock price rose to N1.32 per share at the close of the trading week from N1.05 it opened at the beginning of the trading session on Tuesday 2nd May, representing a growth of 25.71% or N681.7 million.
Further analysis showed that CWG closed the trading week with N3.332 billion in market capitalization as against the opening figure of N2.651 billion.
What you should know
The NGX All-Share Index and Market Capitalization appreciated by 0.12% to close the week at 52,465.31 and N28.568 trillion respectively.
Similarly, all other indices finished higher except NGX Main Board, NGX 30, MERI Growth, and NGX Growth which depreciated by 0.61%, 0.32%, 0.62%, and 8.96% respectively while the NGX ASeM and NGX Sovereign Bond indices closed flat.
A total turnover of 2.973 billion shares worth N22.828 billion in 23,765 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 14.029 billion shares valued at N59.007 billion that exchanged hands last week in 24,048 deals.
The Financial Services Industry (measured by volume) led the activity chart with 1.458 billion shares valued at N14.082 billion traded in 13,115 deals; thus contributing 49.04% and 61.69% to the total equity turnover volume and value respectively.
The Conglomerates Industry followed with 1.254 billion shares worth N3.123 billion in 1,662 deals. The third place was the Consumer Goods Industry, with a turnover of 71.425 million shares worth N1.468 billion in 3,177 deals.
Trading in the top three equities namely Transnational Corporation Plc, Access Holdings Plc and Fidelity Bank Plc, (measured by volume) accounted for 2.074 billion shares worth N11.297 billion in 5,966 deals, contributing 69.76% and 49.49% to the total equity turnover volume and value respectively.
