SWOOTs market capitalization down by N26.46 billion w-o-w

The combined market capitalization of Stocks Worth Over One Trillion (SWOOTs) depreciated by 0.13% to close at N20.71 trillion from N20.74 trillion the previous week, reflecting a decline of N26.46 billion.

Stocks included in this classification are AIRTELAFRICA, BUA CEMENT, DANGOTE CEMENT, NESTLE and MTNN Plc.

Stock Performance

MTNN Plc – N229.00

• MTNN Plc’s share price was down by 0.56% to close at N229.00 at the end of the trading sessions of the week. This caused a downward movement in the market capitalization by N26.46 billion.
• The communications company, a competitor with Airtel Nig Plc, has a total market capitalization of N4.66 trillion, N2.50 trillion lower than Airtel Africa’s current market value.
• MTNN Plc is the second-highest in market value on the Nigerian Exchange Limited (NGX). The company released its Q1 2022 financial result, reflecting a 22.23% growth in revenue for the period, while profit after tax grew significantly by 31.28% from N73.75 billion in Q1 2021 to N96.82 billion in the current period.

Other companies under the SWOOT classification remained unchanged in share prices and their performances are summarized below:

Airtel Africa Plc – N1,905.40

• Airtel Africa Plc’s share price remained unchanged during the week to stand at N1905.4 per share at the end of the trading week, with a market capitalization of N7.16 trillion.
• As the most capitalized company on the exchange once again, it led the SWOOTs strongly, with MTNN, its competitor as second-most capitalized stock, far behind.
• Airtel Africa Plc, telecom giant, 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.

BUA Cement Plc – N69.30

• BUA Cement Plc’s share price close the week flat at N69.3, retaining its market capitalization at N2.35 trillion at the end of the trading week.
• The company’s Q1 2022 financial report revealed a revenue of N96.99 billion, reflecting a growth of 58% from N61.19 billion in 2021. Similarly, net income increased by N11 billion, reflecting a 48% increase from N22.37 billion recorded in the corresponding period of 2021, to N33.144 billion in the current period.

Dangote Cement Plc – N265.00

• Dangote Cement Plc’s share retained its share price at N265.00 as it traded flat during the week. The company, which is a competitor of Bua Cement Plc and Wapco Plc, and the most capitalized cement producer on the NGX, has a total Market capitalization of N4.51 trillion.
• Dangote Cement Plc is the third most-valued company quoted on the exchange and makes up roughly 22% of the total market capitalization of all stocks worth over one trillion.
• The Q1 2022 financial result revealed a profit of N105.85 billion during the period, representing an 18% increase Y-o-Y. Meanwhile, Revenue for the period stood at N413.18 billion, a 24.20% increase from the corresponding period of 2021.

Nestle Nigeria Plc – N1,400.00

• Nestle Nigeria Plc’s share price stood unchanged to close the week at N1,400.00 per share, amidst sell-offs and buy-interests during the trading week.
• The Fast-Moving Consumer Goods company currently has a market capitalization of N1.11 trillion.
• Nestle Nigeria Plc is now the only company under the NGX Consumer goods Index to be worth over a trillion, following the exit of BUA Foods from the SWOOTs category.
• The Q1 2022 financial result revealed a profit of N17.98 billion, representing a 45% increase from the prior-year period as revenue grew by 26%. Earnings per share for the period was at N22.68.