Flour Mill reports loss of over 4bn in market value

Flour Mill Nigeria plc reported at the end of week trading session,  share price which depreciated by 3.13 per cent to close at N31 per share, taking the market capitalization to N127.11 billion.

The decline in share prices which was recorded by the FMCG company can be attributed to investors’ negative sentiment which triggered sell-offs dragging the company’s value down by 313 basis points.

Hence, sell-pressures in the shares of the company resulted in a loss of N4.10 billion in market capitalization at the close of trading activities on Nigeria’s stock exchange.

The shares of the quoted company decreased from N32.00 per share at the start of the trading day to N31.00 per share, the lowest price traded at the close of the market, to represent a decline of 3.13 per cent which in monetary terms is N1.00.

The profit-taking witnessed in the shares of Flourmills Nigeria Plc negatively influenced the company’s market capitalization from N131.21 billion to N127.11 billion at the end of the day’s trading activities, taking the loss to N4.10 billion. The shares of the company have gained 9.35 per cent from year-to-date, starting the year at N28.35 and currently traded at N31.00.

The company’s shares are currently trading 12.31 per cent lower than its 52-week high at N35.35. However, the shares of the company have returned about 12.73 per cent gains for investors who bought them at their 52-week low trading price of N27.50 per share.

During the day’s trading hours, 334,672 ordinary shares of Flourmills Nigeria Plc worth about N10.40 million, were exchanged in 23 executed deals.

At the end of the day’s trading activities, the NGX All-Share Index and market capitalisation depreciated by 0.43 per cent from the previous trading day, to close at 46,960.29 index points and N25.31 trillion respectively.