Nigerian Stock Exchange

Vitafoam Expands Net Asset per share by 54.3 Percent in 2020

Published

5 months ago

January 26, 2021

Vitafoam Expands Net Asset per share by 54.3 Percent in 2020

Despite COVID-19 and challenging business environment, Vitafoam Nigeria Plc grew net asset per share by 54.3 percent from N4.70 achieved in 2019 to N7.25 in 2020.

The company attributed the strong performance to improved innovation and expansion.

Vitafoam reported a 5.2 percent surge in total sales during the period, 8.1 percent decline in cost of sales and 11.4 percent reduction in finance.

Profit After Tax increased by 72 percent to N4.11 billion from N2.39 billion while basic earnings per share increased to N3.05 from N1.82.

Speaking on the company’s performance, Mr Taiwo Adeniyi, Group Managing Director and Chief Executive, said: “Innovation is the drive. As a matter of corporate policy, we do continuous improvement on our products.

“We sell high margin products. We are highly connected with our customers. We know their different needs and as such our products always gain acceptance in the market. Our foams and other products meet specific needs.

“Last year, we launched Buy Rights when our research revealed that different weights require different types of foams. We do not just sell to customers, we offer health counselling to advise on the specific foam for individual customers. This has greatly endeared us to our customers.

“Our investment in the subsidiaries as a growth strategy is beginning to pay off. All of them have turned profitable. We are not insulated from the tough operating environment as all the indices that should drive growth in the manufacturing sector are weak.”

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Samed Olukoya

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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Nigerian Stock Exchange

Equities Market Closes in Red on Monday

Published

11 hours ago

June 22, 2021

Samed Olukoya

Nigerian Exchange Limited - Investors King

The Nigerian Exchange Limited extended its bearish trend on Monday as several unclear economic policies continue to dictate market sentiment.

Investors traded 209,212,596 shares estimated at N1.763 billion during the trading hours of Monday.

Market value of listed equities dipped to N20.089 trillion on Monday, while the Nigerian Exchange Limited All-Share Index lost 0.27 percent 38545.30 index points.

Meyer Plc led gainers with 8.77 percent to close at N0.57 a share. This was followed by Champion Brew. Plc with 6.06 percent. See the details below.

Top Gainers

Symbols	Last Close	Current	Change	%Change
MEYER	N 0.57	N 0.62	0.05	8.77 %
CHAMPION	N 1.98	N 2.10	0.12	6.06 %
JBERGER	N 19.10	N 20.00	0.90	4.71 %
REGALINS	N 0.50	N 0.52	0.02	4.00 %
IKEJAHOTEL	N 0.94	N 0.97	0.03	3.19 %

Top Losers

Symbols	Last Close	Current	Change	%Change
FIDSON	N 5.10	N 4.60	-0.50	-9.80 %
LASACO	N 1.50	N 1.36	-0.14	-9.33 %
FTNCOCOA	N 0.33	N 0.30	-0.03	-9.09 %
MBENEFIT	N 0.45	N 0.41	-0.04	-8.89 %
CORNERST	N 0.58	N 0.55	-0.03	-5.17 %

Top Traders

Symbols	Volume	Value
ACCESS	22719611.00	193988537.35
MANSARD	16700986.00	15046288.96
ZENITHBANK	16144873.00	384583513.35
MBENEFIT	14685025.00	6036206.91
CHAMS	13478252.00	2703150.40

Nigerian Stock Exchange

Presco Plc to Hold Emergency Meeting to Recommend Acquisition of Private Company to Shareholders

Published

6 days ago

June 16, 2021

Samed Olukoya

Presco Plc, an agro-industrial company, has notified shareholders of the company, the Nigerian Exchange Group and the investing public that the Board of Directors of Presco Plc will hold an emergency meeting on Thursday 24th June, 2021 to recommend for the shareholders to consider the acquisition of an existing private company through shares.

The existing private company, according to a statement signed by Patrick Uwadua Esq., Company Secretary, Presco Plc, is in the same line of business with Presco Plc.

Presco said once considered, a resolution will be passed at the company’s next General Meeting to authorise the acquisition of all the shares of the existing private company.

Meanwhile, the company commenced its closed period on today, Wednesday 16 June 2021 until 24 hours after the decisions taken at the Board Meeting are released to the public.

Nigerian Stock Exchange

Cornerstone Insurance, Morison, Others Lead Gainers as Stock Market Gains

Published

6 days ago

June 16, 2021

Samed Olukoya

Nigerian Exchange Group rebounded from 1.66 percent decline recorded on Tuesday to close with 0.15 percent gain on Wednesday as more stocks closed in the green.

Investors traded 302,722,917 shares valued at N2.809 billion during the trading hours of Wednesday, against the 297.35 million shares worth N3.65 billion that were exchanged in 4,402 deals on Tuesday.

Market value of listed stocks appreciated from N20.07 trillion on Tuesday to settle at N20.099 trillion on Wednesday.

Nigerian Exchange Group All-Share Index gained 0.15 percent from 38,507.29 index points on Tuesday to 38564.70 index points on Wednesday.

Cornerstone Insurance led gainers with 10 percent, while Morison followed with 9.68 percent as shown below. Sterling bank emerged the most traded stocks with 37473362.00 shares valued at N57825053.65.

Top Gainers

Symbols	Last Close	Current	Change	%Change
CORNERST	N 0.50	N 0.55	0.05	10.00 %
MORISON	N 1.24	N 1.36	0.12	9.68 %
LEARNAFRCA	N 0.92	N 0.98	0.06	6.52 %
AFRIPRUD	N 6.05	N 6.40	0.35	5.79 %
COURTVILLE	N 0.20	N 0.21	0.01	5.00 %

Top Losers

Symbols	Last Close	Current	Change	%Change
ABBEYBDS	N 1.05	N 0.95	-0.10	-9.52 %
CHIPLC	N 0.74	N 0.67	-0.07	-9.46 %
CWG	N 1.24	N 1.15	-0.09	-7.26 %
WAPIC	N 0.57	N 0.53	-0.04	-7.02 %
REGALINS	N 0.48	N 0.45	-0.03	-6.25 %

Top Trades

Symbols	Volume	Value
STERLNBANK	37473362.00	57825053.65
ETI	27396295.00	142467020.85
WEMABANK	27146019.00	15001766.29
GUARANTY	26491561.00	745342100.20
JAPAULGOLD	22136983.00	11040985.74