Shares of John Holt PLC have surged over 70% month-to-date, emerging as one of the top-performing stocks on the Nigerian Exchange as of the market close on November 11th, 2024, amid increased market activity.
In its financial report covering October 2023 to September 2024, the company posted a pre-tax profit of N2.4 billion, a reversal from the pre-tax loss of N1 billion reported in the same period the previous year.
Revenue also increased by 81.7% to N3.3 billion, up from N1.8 billion in the prior year, with most of it generated from technical products and leasing services.
Following the release of the financial report on October 30, 2024, market activity surged, driving trading volumes up by as much as 190%.
By November 11, 2024, the stock had risen over 70% month-to-date, with a cumulative market volume of 5.3 million shares traded.
Market Trends
- John Holt began the year trading at N2.32 per share, building on a modest rally from late 2023. The positive trend continued through January 2024, but the stock faced a decline between February and April, with its price dipping to N1.98.
- By May, the stock began recovering, reaching N3.14 in June on the back of increased trading volumes of 1.2 million shares.
- However, trading activity slowed between July and September, with marginal gains helping the stock close the third quarter on a positive note.
- Following the release of its financial results in late October, John Holt PLC’s stock gained renewed momentum, surging over 70% month-to-date to reach N5.29 by the end of trading on November 11, 2024.
Financial Performance Overview
Revenue for the period rose by 81.7% year-over-year to N3.3 billion, compared to N1.8 billion in the previous year.
- Technical products and leasing services contributed N2.9 billion, up by 94.1% year-over-year.
- Central operations and Yamaha generated N399 million and N14 million, respectively.
The company achieved a pre-tax profit of N2.4 billion, marking a significant improvement from the pre-tax loss of N1 billion in the prior period.
Cash and cash equivalents increased to N3.4 billion, compared to N1.9 billion in the same period last year.
About the Company:
- John Holt PLC was established in 1862 and is headquartered in Lagos, Nigeria. The company operates across various industrial sectors, including power equipment, marine services, and logistics.
- Its primary business includes the assembly, sale, leasing, and servicing of power equipment. It also sells and maintains firefighting equipment, builds boats, and provides marine services such as transport and equipment servicing.
- In addition, John Holt offers warehousing for goods, property services, construction, and shipping, strengthening its role in logistics and maritime operations.
