The combined market capitalization of shares worth more than one trillion (SWOOT) appreciated 1.48% to close at 19.05 trillion naira from 18.77 trillion naira the previous week, reflecting a profit of 278.63 billion naira. The stocks included in this classification are AIRTELAFRICA, BUA CEMENT, DANGOTE CEMENT, BUAFOODS and MTNN Plc.
stock performance
BUA Cement Plc – N77.00: Bua Cement share price depreciated 2.53% at the end of the trading week to N77 compared to N79 at the end of last week, while its market capitalization stood at N2.60 N2.68 trillion to lose a total of N67. .73 billion.
The company’s Q3 2022 financial report revealed revenue of Naira 74 billion, reflecting a growth of 18.21% from Naira 62.63 billion in 2021. Meanwhile, profit after tax was down by Naira 9,860 N12.51 billion, reflecting a 44% decrease from N12.51 billion in the corresponding period of 2021, to N12.65 billion in the current period.
MTNN PLC – N220.00: MTNN Plc share price, at the end of the trading week, appreciated 4.76% to close at N220.00 per share. The appreciation in share prices brought its market capitalization to N4.48 trillion at the end of the week’s trading sessions. As a competitor to Airtel Nig Plc, MTN’s total market capitalization is N1.11 trillion less than the current market value of Airtel Africa.
MTNN Plc is the third most capitalized company on the Nigerian Stock Exchange (NGX). The company released its Q3 2022 financial result, reflecting a 21.9% growth in revenue to Naira 504.8bn for the period, from Naira 414.05bn, while profit after tax grew by 11.4%, from 78.48 billion naira in the first half of 2021 to N87.41 billion in the current period.
Airtel Africa Plc – N1,488.00: Airtel Africa Plc share price appreciated 2.62% at the end of the week to close at N1,488.00 from N1,450.00 the previous week. The market capitalization also grew by N142.81 billion to settle at N5.59 trillion at the end of the trading week.
Airtel Africa Plc finished the week as the most capitalized company in the stock market once again, strongly leading the SWOT, with MTNN, its competitor and the third most capitalized stock, far behind.
The telecom giant released its financial statement for the half year ending September 2022 and revealed an after-tax profit of $330 million, down 1.5% due to higher FX and derivative losses of $160 million.
Similarly, strong revenue growth reported in constant currency was recorded across all four reporting segments, as mobile revenues in Nigeria increased by 19.7%, in East Africa by 12.4% and in French-speaking Africa. 12.1% (and group-wide 15.6%, with voice revenue growing 12.0% and data revenue growing 22.1%.
Cement Dangote Plc – N262.30: Dangote Cement Plc’s share price ended unchanged at the end of the week at N262.30.
The company, which is a competitor to Bua Cement Plc and Wapco Plc, and the most capitalized cement producer in NGX, has a total market capitalization of N4.47 trillion at market close this week.
Dangote Cement Plc is currently the second most valued publicly traded company accounting for approximately 22% of the total market capitalization of all shares worth more than $1 trillion.
The financial result for the third quarter of 2022 revealed a profit of N40.5 billion, which is a drop of 52.67% from N86.6 billion yoy. Meanwhile, revenue for the period amounted to N369.210 million, an increase of 11.3% over the corresponding period of 2021.
BUA Foods Plc – N63.4: BUA Foods Plc share price was unchanged to close the week at N63.40. Similarly, the week-end market capitalization stood at N1.41 trillion at the end of the trading week.
BUA Foods posted net profit after tax of 68.76 billion naira in 9 months 2022, an increase of 17.2% from 58.7 naira. Revenue for the period was N290 billion, up from N241 billion in the same period last year.