NESTLE and MTN lower SWOOT capitalization by 724 billion naira

The combined market capitalization of stocks worth over one trillion (SWOOT) depreciated by 3.49% to close at 20.01 trillion naira from 20.74 trillion naira the previous week, reflecting a decline of N723.86 billion. The stocks included in this ranking are AIRTELAFRICA, BUA CEMENT, DANGOTE CEMENT, NESTLE and MTNN Plc.

Stock performance

MTNN Plc – N200.10

  • MTNN Plc’s share price closed at N200.10 at the end of the week’s trading sessions to reflect a decline of 13.11% week-on-week. This means that the total amount lost by investors was 614 billion naira, leading to a decline in the company’s market capitalization.
  • The communications company, competitor to Airtel Nigeria Plc, has a total market capitalization of N4.07 trillion.
  • MTNN Plc is now the third highest market value on the Nigerian Exchange Limited (NGX). The company released its financial result for the first half of 2022, reflecting a 20.07% growth in revenue for the period, while profit after tax increased significantly by 28.06% from 141.82 billion. in the first half of 2021 to 181.62 billion naira for the current period.

Nestlé Nigeria Plc – N 1,262.3

  • Nestlé Nigeria Plc’s share fell 9.84% to end the week at 1,262.3 naira per share, amid selling and buying during the trading week. The Fast-Moving Consumer Goods company currently has a market capitalization of N1 trillion.
  • Nestle Nigeria Plc is now the only company in the NGX Consumer Goods Index to be worth more than a trillion, following the release of BUA Foods from the SWOOTs category.
  • The financial result for the first half of 2022 revealed a profit of N27.74 billion, an increase of 28% over the prior year period, with revenue increasing by 30% from N171 billion. at N222 billion. Earnings per share for the period was N12.33.

The prices of the other companies in the SWOOT classification remained unchanged and their performance is summarized below:

Airtel Africa Plc – N1,905.40

  • Airtel Africa Plc’s share price remained unchanged during the week at N1,905.4 per share at the end of the trading week, with a market capitalization of N7.16 trillion. .
  • As the most capitalized company on the exchange once again, it strongly led the SWOOTs, with MTNN, its competitor as the second most capitalized stock, a distant second.
  • The telecommunications giant released its unaudited financial statements for the quarter ended June 2022, revealing a 13% growth in revenue, from $1.11 billion in 2021 to $1.26 billion for the period in Classes.
  • After-tax profit for the period also appreciated significantly by 25.3%, from $142 million in 2020 to $178 million.

BUA Cement Plc – N69.30

  • BUA Cement Plc’s share price closed the week at 69.3 naira, keeping its market capitalization at 2.35 trillion naira at the end of the trading week.
  • The company’s 2022 first half financial report revealed revenue of N9,186.56 billion, a 45% growth from N124.28 billion in 2021. Similarly, profit after tax increased by 7 billion naira, reflecting a 34% increase from the recorded 21.02 billion naira. in the corresponding period of 2021, to N28.22 billion in the current period.

Dangote Cement Plc – N265.00

  • Dangote Cement Plc stock held its price at N265.00 as it traded flat during the week. The company, which is a competitor of Bua Cement Plc and Wapco Plc, and the most capitalized cement producer in NGX, has a total market capitalization of N4.51 trillion.
  • Dangote Cement Plc is the third most publicly traded company and accounts for approximately 22% of the total market capitalization of all shares worth more than trillion.
  • The financial result for the first quarter of 2022 revealed a profit of N105.85 billion during the period, representing an increase of 18% year-on-year. Meanwhile, revenue for the period amounted to N413.18 billion, an increase of 24.20% over the corresponding period of 2021.

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