18 firms lose despite N55bn market gains
April 1, 2016

Stanley Opara

The share prices of 18 companies depreciated in value despite the equities market gaining N55bn at the close of trading on the floor of the Nigerian Stock Exchange on Thursday.

The top five losers on the stock table were Okomu Oil & Palm Plc, United Capital Plc, Tiger Branded Consumer Goods Plc, Transnational Corporation of Nigeria Plc, and Livestock Feeds Plc.

However, the NSE market capitalisation appreciated to N8.704tn from N8.649tn, while the All-Share Index rose to 25,306.22 basis points from 25,145.28 basis points.

A total of 264.041 million shares worth N1.939bn exchanged hands in 3,298 deals.

Okomu shares closed at N29.85 from N31.42, losing N1.57 (five per cent); while those of United Capital lost N0.07 (4.67 per cent) to close at N1.43 from N1.85.

A total of 23 firms appreciated in value with Julius Berger Nigeria Plc, International breweries Plc, Africa Prudential Registrars Plc, FCMB Group Plc and FBN Holdings Plc emerging as top five gainers.

The share price of Julius Berger closed at N44.80 from N41.50, gaining N3.30 (7.95 per cent); while that of International Breweries gained N1.49 (7.84 per cent) to close at N20.49 from N19.

Meanwhile, Unilever Nigeria Plc’s recently released financial results for the year ended December 31, 2015 showed a drop in profit after tax for the full year by 51 per cent from N2.4bn in 2014 to N1.19bn in 2015.

However, the firm’s fourth quarter 2015 stand alone results showed an increase of 78.3 per cent in PAT (Q4 2014: N590m; Q4 2015: N1.05bn).

It recorded a turnover and profit after tax of N59.2bn and N1.19bn, respectively. The company recorded a considerable leap in PAT from its Q3 2015 position of N141m to close the year with PAT of N1.19bn.

The result showed 6.2 per cent growth in turnover from N55.7bn for the year ended December 2014 to N59.2bn for the year ended December 2015.