Presco reports gains of N8.75bn market value in one day, appreciates by 9.97%
By Philemon Adedeji
Presco PLC on Tuesday reported at the end of trading session, the share price appreciated by 9.97 per cent to close at N96.55 per share, as the market capitalization increased from N87.80 billion to N96.55 billion.
Presco Plc recorded a gain in share prices which can be attributed to investors’ positive sentiment which triggered buy-interests in the shares of the company which support a profit of N8.75 billion in market capitalization at the close of trading session on Nigeria’s stock exchange.
The shares of the quoted FMCG company appreciated from N87.80 per share at the start of the trading day to N96.55 per share, the highest price traded at the close of the market, to represent a profit of 9.97 per cent which in monetary terms is N8.75.
The rally witnessed in the shares of Presco positively influenced the company’s market capitalization from N87.80 billion to N96.55 billion at the end of today’s trading activities, taking the gains to N8.75 billion.
Presco Plc shares have gained 9.97 per cent from year-to-date, as the year start at N87.80 and currently traded at N96.55. The company’s shares are currently trading at its 52-week high of N96.55 per share. However, the shares of the company have returned about 39.93 per cent gains for investors who bought them at their 52-week low trading price of N69.00 per share.
As the trading activities was on going yesterday, 2,119,085 presco plc ordinary shares worth about N203.06 million, were exchanged in 218 executed deals.
While comparing the shares of Okomu Plc closed flat at N142.00 at the end of today’s trading session.
Presco Plc has reported a revenue growth of 97.68 per cent in FY 2021, from N23.89 billion in the corresponding period of 2020 to N47.23 billion. Similarly, Net profit appreciated significantly by over 250 per cent Y-o-Y, from N5.26 billion in 2020 to N18.87 billion in the current period.
Yesterday, at the end of trading session, the Nigeria Exchange Limited (NGX), All-Share Index and market capitalization appreciated by 0.91 per cent from the previous trading day, to close at 46,624.67 index points and N25.12 trillion respectively.
