The combined market capitalization of stocks worth more than one trillion naira (SWOOTs) rose by 0.71% to N17.24 trillion, up from N17.15 trillion the previous week. This represents a gain of N121.57 billion over the previous week. This category includes AIRTELAFRICA, BUA CEMENT, DANGOTE CEMENT, BUAFOODS, and MTNN Plc.
Stock Performance
MTNN Plc – N197.00
At the end of last week’s trading session, MTNN Plc’s share price increased by 2.60% to close at N197.00 per share, bringing its market capitalization to N4.00 trillion. The telco’s market capitalization is N763 billion, which is less than that of its rival, Airtel Africa.
MTNN Plc is the third-largest company on the Nigerian Exchange. The company released its Q3 2022 financial results, which showed a 21.9% increase in revenue to N504.8 billion for the period, up from N414.05 billion, and an 11.4% increase in profit after tax from N78.48 billion in H1 2021 to N87.41 billion in the current period.
BUA Foods Plc – N57.00
At the end of the trading week, the share price of BUA Foods Plc was N57. The figure represents an increase from the N55.9 that closed at the end of last week. Bua food’s market capitalization increased to N1.02 trillion from N1.00 trillion last week.
BUA Food reported a net profit after tax of N68.76 billion in the first nine months of 2022, a 17.2% increase from N58.7 billion the previous year. The period’s revenue was N290 billion, up from N241 billion in the same period last year.
Other companies in the SWOOT classification saw their share prices remain unchanged, and their results are summarized below:
Dangote Cement Plc – N238.50
Dangote Cement’s share price fell 0.62% to N238.50 at the close. As of the end of the trading week, the company, which is the most capitalized cement producer on the NGX, had a total market capitalization of N4.06 trillion.
Dangote Cement Plc is the second most valuable company listed on the exchange, accounting for roughly 23% of the total market capitalization of all stocks worth more than one trillion dollars.
The profit for the third quarter of 2022 was N40.50 billion, a 52.67% decrease from the previous year’s profit of N86.6 billion. Meanwhile, revenue for the period was N369.21 billion, an 11.3% increase over the same period in 2021.
Airtel Africa Plc – N1,270.00
The share price of Airtel Africa Plc fell by 0.39% to N1,270.00. The market capitalization fell during the week to N4.77 trillion, down from N4.79 trillion at the end of the trading week.
Airtel Africa Plc ended the week as the most capitalized company on the exchange once again, with MTNN, its competitor and third-most capitalized stock, trailing far behind.
The telecom giant released its financial statement for the half-year period ending September 2022, revealing a profit after tax of $330 million, a 1.5% decrease due to higher foreign exchange and derivative losses of $160 million.
Similarly, it reported strong revenue growth in constant currency across all four reporting segments, with Mobile Services revenue increasing by 19.7% in Nigeria, 12.4% in East Africa, and 12.1% in Francophone Africa (and 15.6% overall, with voice revenue increasing by 12.0% and data revenue increasing by 22.1%).
BUA Cement N72.00
The share price of Bua Cement remained unchanged at the end of the trading week. The cement firm’s market capitalization was N2.44 trillion.
According to the company’s Q3 2022 financial report, revenue was N74 billion, up 18.21% from N62.63 billion in 2021. Meanwhile, profit after tax fell by N9.86 billion, or 44%, from N22.51 billion in the preceding period of 2021 to N12.65 billion in the current period.
