BUA Foods: MTN weigh down SWOOTs combined market cap by N93.62bn
The combined market capitalisation of stocks worth over one trillion (SWOOTs) depreciated by 0.51% to close at N18.14 trillion from N18.23 trillion the previous week, reflecting a loss of N93.62 billion. Stocks included in this classification are AIRTELAFRICA, BUA CEMENT, DANGOTE CEMENT, NESTLE, MTN Plc, and recently, BUA FOODS.
Stock performance
MTN Plc’s share price, at the end of the trading week, declined by 1.1% to close at N198.00 per share, taking its market capitalisation to N4.03 trillion at the end of the five trading sessions of the week. The communications company, a competitor of Airtel Nig Plc, has a total market capitalisation of N4.03 trillion, N746 billion lower than Airtel Africa’s current market value.
MTN Plc is the third-highest in market value on the Nigerian Exchange Limited (NGX). The company released its 2021 FY financial result, reflecting a 22.90% growth in revenue for the period, while profit after tax grew significantly by 45.53% from N205.21 billion in FY 2020 to N298.65 billion in the current period.
BUA Foods Plc’s share price declined by 4.00% to close at N61.80, with the market capitalisation standing at N1.11 trillion at the end of the trading week, to lose N46.80 billion.
BUA Foods is a newly listed company on the exchange; however, the Q4 financial result revealed a 36.37% growth in Profit after Tax from N14.81 billion recorded in the corresponding period of 2020 to N20.20 billion in the period reported.
The FMCG company, reported a revenue of N92.61 billion, reflecting a growth of 39.62% from N66.34 billion in the corresponding period of 2020.
Other companies under the SWOOT classification remained unchanged in share prices and their performances are summarised below:
Nestle Nigeria Plc’s share price remained unchanged to close the week at N1,435.00 per share, amidst sell-offs and buy-interests during the trading week. The Fast-Moving Consumer Goods company currently has a market capitalisation of N1.14 trillion. Nestle Nigeria Plc is one of the two companies under the NGX Consumer goods Index to be worth over a trillion.
The Q3 2021 financial result revealed a 25.72% growth in revenue from N71.70 billion recorded in Q3 2020 to N90.15 billion. The consumer goods company reported a profit after tax of N11.85 billion, reflecting a growth of 17.2% from N10.11 billion in the corresponding quarter of 2020. The company is yet to release the Q4 result.
Airtel Africa Plc’s share price remained unchanged by 10.00% to stand at N1271.00 per share at the end of the trading week, with a market capitalisation of N4.78 trillion.
Airtel Africa Plc ended the week as the most capitalised company on the exchange once again, vying for the position with Dangote Cement Plc by N94 billion.
Airtel Africa Plc, telecom giant, has released its 2021 9-month Unaudited Financial Statement revealing a 22.5% growth in revenue from $2.85 billion in 2020 to $3.49 billion in the current period.
Net profit for the nine-month period appreciated significantly by 97.3% from $261 million in 2020 to $514 million.
Dangote Cement Plc’s share price remained unchanged to close at N274.80 at the end of the trading week as the company’s market capitalisation stood at N4.68 trillion. The company, which is a competitor of BUA Cement Plc and Wapco Plc, has a total Market capitalisation of N4.68trillion.
Dangote Cement Plc is currently the second most-valued company quoted on the exchange and makes up roughly 25% of the total market capitalisation of all stocks worth over one trillion.
The Q3 2021 financial result revealed that revenue grew by 16.53%, while net income for the period appreciated by 4.94% from N82.54 billion in Q3 2020 to N86.62 billion in the current period. The company’s FY financial report is yet to be filed.
BUA Cement Plc’s share price remained unchanged to close at N70.75, with the market capitalisation standing at N2.40 trillion at the end of the trading week.
The company’s Q4 2021 financial report revealed a revenue of N70.43 billion, reflecting a growth of 33.15% from N52.89 billion in 2020. Similarly, net income increased by N7.06 billion, reflecting a 37.60% increase from N18.78 billion recorded in the corresponding period of 2020, to N25.84 billion in the current period.
