NCR (Nigeria) Plc shares have soared more than 60% so far in November, breaking through the N20 resistance level and hitting a new high of N25.60.
The stock, which has maintained a strong bullish trend since July 2025, is on track to close yet another month in the green, pushing its second-half performance on NGX to an impressive 326.7%.
In its latest nine-month earnings report, the company rebounded sharply from a pre-tax loss of N2.6 billion in the same period of 2024 to post a pre-tax profit of N237.9 million.
This turnaround was largely driven by disciplined cost management, particularly in administrative expenses, which were reduced from N2.9 billion in 2024, mainly due to exchange losses, to just N91.7 million.
As a result, the company’s top-line revenue of N1.49 billion translated into bottom-line growth, with a net profit of N237.9 million.
The earnings report, published on October 27, 2025, appears to have fueled investor sentiment, contributing to a solid 412% year-to-date gain for the banking and retail technology solutions provider.
Market trend
NCR Nigeria began the year at N5.00 on the first trading day of January, climbing steadily to N7.30 by month-end.
The stock traded sideways from February through April before retreating in May and touching N6.00 by June.
Positive momentum returned in July and strengthened through August, as the share price broke above the N10.00 mark to close the month at N11.55. The rally extended into September, when the stock reached N16.00, bringing its Q3 performance to 166%.
Although trading activity stalled in October, likely due to a closed period, momentum returned following the release of its third-quarter earnings in late October.
The renewed investor interest likely sparked a strong surge in November, with the stock breaking the N20 resistance level and rising 60% month-to-date to N25.60 as of the trading week ended 14th November 2025.
Performance
For the nine months ended September 30, 2025, NCR Nigeria Plc reported revenue of N1.4 billion, representing a 13.9% increase compared to the previous year.
- Of this total, World Customer Services accounted for N1.1 billion or 73.5%, while Financial Services contributed N396.8 million.
The company’s cost of sales also rose by 11.5% to N1.17 billion, resulting in a gross profit of N321.8 million, up from N260.5 million in the prior period.
Supported by other income of N36.7 million and a sharp reduction in administrative expenses—from N2.9 billion in 2024 to just N91.7 million—the company recorded an operating profit of N237.9 million, which also represented its pre-tax profit, given the absence of finance costs.
On the balance sheet, total assets grew to N5.3 billion, compared to N4.4 billion in 2024, while retained losses narrowed to N4.4 billion from N4.7 billion.
