The combined market capitalization of shares worth more than one trillion (SWOOT) appreciated 0.71% to close at 17.24 trillion naira, from 17.15 trillion naira the previous week. This shows a profit of N121.57 billion during the week under review. The stocks included in this classification are AIRTELAFRICA, BUA CEMENT, DANGOTE CEMENT, BUAFOODS and MTNN Plc.
MTNN Plc – N197.00: MTNN Plc share price appreciated 2.60% to close at N197.00 per share, taking its market capitalization to N4.00 trillion at the end of last week’s trading session. The telecommunications company’s market capitalization is 763 billion naira, lower than that of its competitor, 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.
BUA Foods Plc – N57.00: BUA Foods Plc share price was valued at N57 at the end of the trading week. The amount represents growth from the N55.9 that closed late last week. The market capitalization of Bua foods appreciated to N1.02 trillion compared to N1.00 trillion last week.
BUA Food posted a net profit after tax of N68.760 million in 9 months 2022, an increase of 17.2% from N58.7. Revenue for the period was N290 billion, up from N241 billion in the same period last year.
Other companies under the SWOT classification remained unchanged in share prices and their performance is summarized below:
Cement Dangote Plc – N238.50: Dangote Cement share price depreciated 0.62% to close at N238.50. The company, which is the most capitalized cement producer in NGX, has a total market capitalization of N4.06 trillion at market close during the trading week.
Dangote Cement Plc is currently the second most valued publicly traded company accounting for approximately 23% 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.
Airtel Africa Plc – N1,270.00: Airtel Africa Plc share price depreciated 0.39% to close at N1,270.00. Market capitalization fell over the week to a value of N4.77 trillion, from N4.79 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%.
BUA N72.00 cement: Bua Cement’s share price was unchanged at the end of the trading week. The market capitalization of the cement company stood at 2.44 trillion naira.
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.
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