MTN gains as SWOOTs capitalisation closes at N18.835trn
The combined market capitalization of SWOOTs increased marginally by 0.02 per cent to N18.835 trillion.
SWOOTs (Stocks Worth Over One Trillion) include Airtel Africa, MTN Nigeria, Dangote Cement, BUA Foods, and BUA Cement.
MTN Nigeria’s share price rose by 1.53 per cent, while BUA Cement’s share price declined by 2.22 per cent in the past week. Airtel Africa, BUA Foods, and Dangote Cement remained unchanged.
SWOOTs are known as Stocks Worth Over One Trillion. They are the stocks with a market valuation of at least N1 trillion.
The stocks in this category are Airtel Africa, MTN Nigeria, Dangote Cement, BUA Foods, and BUA Cement.
At the close of market activities for the week, the combined market capitalization of SWOOTs appreciated marginally by +0.02 per cent to close at N18.835 trillion from N18.832 trillion the previous week, reflecting a marginal gain of N3.512 billion.
BUACEMENT closed negative, MTN NIGERIA closed positive while others closed flat.
MTN Plc’s share price appreciated by 1.53 per cent from last week to close at N232.5 per share.
The telecom giant retains its status as the most valued company at NGX with a market capitalization of N4.73 trillion.
In its unaudited financial report for Q1 2023, MTN had 20.6 per cent revenue growth to N568.14 billion from N470.98 billion in Q1 2022
The Profit After Tax also grew by 4.6 per cent to N101.30 billion from N96.82 billion recorded in Q1 2022.
BUA Cement Plc’s share price depreciated by 2.22 per cent from last week as it closed at N88 per share. Its market capitalization fell to N2.98 trillion.
The company’s unaudited financial report for Q1 2023 revealed revenue of N106.35 billion, reflecting a growth of 9.65 per cent from N96.99 billion in 2021.
Meanwhile, profit after tax for Q1 2023 fell by 19.1 per cent to N26.80 billion from N33.14 billion recorded in the corresponding period.
Earnings Per Share (EPS) also dropped by 19.39 per cent from N0.98 to N0.79.
The share price of BUA Foods Plc remains unchanged from last week as it closed at N117 per share. Similarly, the market capitalization remains unchanged to close at N2.11 trillion.
In its reported unaudited financial statement for Q1 2023, revenue grew by 60.2 per cent to N144.32 billion from N90.06 billion recorded in Q1 2022.
Profit After Tax for the period rose by 77.1 per cent to N40.47 billion from the N22.84 billion recorded in Q1 2022.
Earnings Per Share (EPS) grew to N2.25 an increase of 77 per cent recorded in Q1 2022.
Airtel Africa Plc’s share price remains unchanged from last week as it closed at N1175 per share.
Market capitalization stood at N4.41 trillion.
According to its audited financial report, Airtel Africa raked in the sum of N980 billion ($2.128 billion) from its services for the financial year that ended March 31, 2023. This represents a 20.3 per cent growth year on year compared with the N864.9 billion ($1.878 billion) recorded in the same period last year.
Dangote Cement Plc’s share price remains unchanged from last week as it closed at N270 per share.
The company, which is the most capitalized cement producer on the NGX, has a total Market capitalization of N4.60 trillion.
The unaudited Q1 2023 financial result revealed a marginal loss in revenue of N6.46 billion (1.56 per cent) to N406.72 billion from N413.18 billion in Q1 2022.
Meanwhile, Profit After Tax for the period marginally increased by N3.65 billion (1.56 per cent) to N109.50 billion from N105.85 billion in Q1 2022.
The SWOOTs with a combined market valuation of N18.835 trillion make up over 60 per cent of the entire NGX, hence, strongly influencing the growth or otherwise of the exchange.
