Good Everyone and welcome to this week's edition of Bulls and Bears powered by @Nairametrics and @WealthNG As this is my first thread of the year, let me wish everyone a Happy New Year.
@Nairametrics @WealthNG The animals by the way represent the two pole ends of any market. Bulls signify a strongly positive uptick in a market or stock because they attack their opponents by jacking them upwards. Bears represent negative movement because they swipe at prey in a downward motion.
@Nairametrics @WealthNG First a 2019 Recap
International Breweries was the worst performing stock last year, declining by 69.84% to close at N9.50. Dangote Flour was the best performing stock last year. It gained 270.83% to close at N270.83. Year to date, the NSE All Share Index declined by 14.6%.
International Breweries was the worst performing stock last year, declining by 69.84% to close at N9.50. Dangote Flour was the best performing stock last year. It gained 270.83% to close at N270.83. Year to date, the NSE All Share Index declined by 14.6%.
@Nairametrics @WealthNG Back to the first week of 2020. The @nsenigeria closed the first trading week of the year on a positive note. The All Share Index gained 2.09% this week to close at 26,968.79 basis points. Year to date, the index is up 0.47%.
@Nairametrics @WealthNG @nsenigeria In case you find the maths strange, we had both a new week and an old week intersecting. Market rallied strongly in the last few trading days of 2019. Moving on to a few numbers that came in within the year. Starting with the red numbers.
@Nairametrics @WealthNG @nsenigeria PZ Cussons Nigeria Plc released its results for the half year ended November 2019. There was a slight dip in revenue and the company recorded a N1.5 billion loss. The company issued a very scanty statement, surprisingly with no segmental revenue breakdown.
@Nairametrics @WealthNG @nsenigeria Notore Chemical Industries recorded a N5.7 billion loss for the year ended September 2019. Still on Notore. The company has commenced the Turn Around Maintenance (TAM) of its plant which is being funded with a N13.3 billion loan from AfreximBank.
@Nairametrics @WealthNG @nsenigeria The exercise is aimed at returning the plant to its 1,500MTPD and 500,000MTPA nameplate Urea production capacity, and increasing its reliability index from the current level of 67% to 95%.
@Nairametrics @WealthNG @nsenigeria Vitafoam Nigeria Plc released its results for the financial year ended September 2019. Revenue was up by 13.8% from N19.5 billion in 2018 to N22.8 billion in 2019.
Profit before tax jumped by over 300% from N793 million in 2018 to N3.4 billion in 2019.
Profit before tax jumped by over 300% from N793 million in 2018 to N3.4 billion in 2019.
@Nairametrics @WealthNG @nsenigeria Profit after tax rose by 297% from N601 million in 2018 to N2.3 billion in 2019.
The company declared a N0.42 kobo dividend from an earnings per share of N1.82. That amounts to a payout ratio of about 23.7%
It's a pity firms like this don't do conference calls.
The company declared a N0.42 kobo dividend from an earnings per share of N1.82. That amounts to a payout ratio of about 23.7%
It's a pity firms like this don't do conference calls.
@Nairametrics @WealthNG @nsenigeria The company seems to have mastered the danfonomics of running a business in Nigeria and passing the baton. Key drivers behind the results were higher revenue and lower finance costs. Finance costs dipped from N1.3 billion in 2018 to N1 billion in 2019 down 23% year on year.
@Nairametrics @WealthNG @nsenigeria In addition to increase in revenue from its core line, the company also earned freight income which amounted to N779 million in 2019.
@Nairametrics @WealthNG @nsenigeria Moving on to board and management changes. Vitafoam Nigeria Plc announced the appointment of Achike Charles Umunna as a Non Executive Director effective December 19, 2019.
@Nairametrics @WealthNG @nsenigeria Dangote Sugar Refinery Plc announced the resignation of its Company Secretary/Legal Adviser, Chioma Madubuko, effective January 2, 2020. Madubuko served the company for 12 years.
@Nairametrics @WealthNG @nsenigeria The board of Unity Bank Plc has approved the appointment of Adejumobi Alaba Williams as Company Secretary effective January 1, 2020.
@Nairametrics @WealthNG @nsenigeria Ekocorp Plc, parent company of the popular Eko Hospitals, announced that it had acquired another radiotherapy machine. I find this story quite puzzling. In the notice, the company prides itself as the only private hospital offering radiotherapy services.
@Nairametrics @WealthNG @nsenigeria If that is so, then why did it take so long to buy a second machine? Kudos to the new sheriffs, one whom of by the way used to work in Mecure.
@Nairametrics @WealthNG @nsenigeria Moving on. C and I Leasing Plc which had last year stated that LeasAfric Ghana, its subsidiary, was restating its results has estimated the impact of the restatement on the group result to be N25.5 million. As such, it is not considered to be significant.
@Nairametrics @WealthNG @nsenigeria On to some Yhello News. MTN Nigeria Plc announced that its bankers had received regulatory approval for the telco to redeem all 402,590,263 preference shares of $0.005 at $0.9925579 per share.
@Nairametrics @WealthNG @nsenigeria The company also stated that it will issue a formal notice once the payment is concluded
@Nairametrics @WealthNG @nsenigeria Tier one banks have a joint first spot on my watchlist, as some of them would be having board meetings this month to consider results. Guaranty Trust Bank will hold a board meeting on the 22nd of January, 2020. Zenith Bank will hold a board meeting on the 28th of January, 2020.
@Nairametrics @WealthNG @nsenigeria Access Bank will hold a board meeting on the 29th of January 2020. FUGAZ banks also had an uptick this week. Fidson takes the second spot on the stock is trading at a 6-month low.
Vitafoam has a place as it could inch up a bit following the release of its results.
Vitafoam has a place as it could inch up a bit following the release of its results.
@Nairametrics @WealthNG @nsenigeria Last on my watchlist is Seplat. Stock hit an all time high last year, but seems to have lost some of that kick. If geo political tensions continue, 2020 could turn out to be a good year for them. As well as the firm on Ozumba Mbadiwe. The one that's like a cat with 9 lives.
@Nairametrics @WealthNG @nsenigeria That is it for this week. If you like to get this a a newsletter, please send an email to outreach@nairametrics.com. If you have any questions, please feel free to tweet at myself or @Nairametrics Have a good evening.
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@Nairametrics @WealthNG @nsenigeria PS. One wildcard stock to watch. Noticed a large volume of UnityKapital shares traded on Friday. Havent calculated the volume if its significant. But if it persists after 2 days like that old advert states.....
