Analysis of the NSE For The Week Ended August 8th
donne4real | August 10, 2008
A turnover of 3.25 billion shares worth N43.71 billion in 72,486 deals was recorded this week, in contrast to a total of 3.11 billion shares valued at N38.16 billion exchanged last week in 72,680 deals.
There were no transactions in the Federal Government Development Stocks, State Government Bonds and Industrial Loans/Preference Stocks sectors.
The Insurance subsector was the most active during the week (measured by turnover volume), with 1.4 billion shares worth N2.25 billion exchanged by investors in 10,836 deals. Volume in the Insurance subsector was largely driven by activity in the shares of Investment and Allied Assurance Plc. Trading in the shares of the Insurance Company accounted for 880.7 million shares, representing 63.7% of the subsector’s turnover.
The Banking subsector, boosted by activity in the shares of First Bank of Nigeria Plc, First City Monument Bank Plc and Afribank Nigeria Plc, followed on the week’s activity chart with a turnover of 1.3 billion shares valued at N30.22 billion in 38,082 deals.
Last week, the Insurance subsector led on the activity chart and was followed by the Banking subsector.
Price Movement
The All-Share Index dropped by 5.6% to close on Friday at 49,703.56. The market capitalization of the 209 First -Tier equities closed lower at N10.12 trillion.
Seventeen (17) stocks appreciated in price during the week, lower than the eighty (80) in the preceding week. Chevron Oil Nigeria Plc led on the gainers’ table with a gain of N10.68 to close at N224.44 per share while Mobil Oil Nigeria Plc followed with N10.00 to close at N264.00 per share. Other price gainers in the Top 10 category include:
+ BOC Gases Plc - N3.15
+ UACN Plc - N2.44
+ Intercontinental WAPIC Insurance Plc - N1.66
+ 7-Up Bottling Company Plc - N1.24
+ Presco Plc - N1.03
+ Red Star Express Plc - N0.75
+ IPWA Plc - N0.49
+ Academy Press Plc - N0.47
Eighty - Eight (88) stocks depreciated in price during the week, higher than the twenty - six (26) in the preceding week. Julius Berger Nigeria Plc led on the price losers’ table, dropping by N103.12 to close at N43.12 per share while Nestle Nigeria Plc followed with a loss of N17.26 to close at N199.50 per share. Other price losers in the Top 10 category include:
- First Bank of Nigeria Plc - N11.44
- Benue Cement Company Plc. - N6.40
- Costain (WA) Plc - N3.58
- PZ Cussons Nigeria Plc - N3.44
- Cadbury Nigeria Plc - N3.31
- Nigerian Aviation Handling Co. Plc - N3.02
- Guinness Nigeria Plc - N3.02
- Conoil Plc - N2.75
Eight equity prices were adjusted for dividend and or bonus as recommended by the Board of Directors. Julius Berger Nigeria Plc was adjusted for dividend of N1.25 per share and bonus of 3 for 1.
Julius Berger Nigeria Plc was adjusted for special dividend of N3.75 per share. First Bank of Nigeria Plc was adjusted for dividend of N1.20 per share and bonus of 1 for 4. Conoil Plc was adjusted for dividend of N2.75 per share.
Associated Bus Company Plc was adjusted for dividend of N0.08 per share. C & I Leasing Plc was adjusted for final dividend of N0.06 per share. Lasaco Assurance Plc was adjusted for dividend of N0.08 per share.
Investment and Allied Assurance Plc was adjusted for dividend of 0.8 kobo per share. Regency Alliance Insurance Plc was adjusted for bonus of 1 for 4.
Supplementary Listings
A total of 4,972,508,093 shares were added to the shares outstanding in the name of First Bank of Nigeria Plc following the bonus of 1 for 4. A total of 760,653,675 shares were added to the shares outstanding in the name of Costain (WA) Plc on Monday, August 4, 2008 following the conclusion of the hybrid offering and the subsequent supplementary offer. A total of 900,000,000 shares were added to the shares outstanding in the name of Julius Berger Nigeria Plc following the bonus of 3 for 1. A total of 1,212,500,000 shares were added to the shares outstanding in the name of Regency Alliance Insurance Plc following the bonus of 1 for 4.
COMPANY NEWS
DIAMOND BANK PLC: Audited result for the year ended 30th April 2008 shows Gross Earnings of N60.44 billion as against N39.9 billion in 2007. Profit after tax stood at N12.82 billion compared with N5.8 billion in 2007. The Directors are recommending a dividend of N0.56 per share and bonus of 1 for 10. The date of closure of register of members is August 15, 2008 while payment date is August 28, 2008. The Annual General Meeting (AGM) of shareholders is scheduled to hold at Shell Hall, Muson Centre, Onikan, Lagos on Thursday, August 28, 2008 by 11.00a.m.
DIAMOND BANK PLC: Unaudited result for the first quarter ended 31st July 2008 shows Gross Earnings of N21.8 billion, as against N10.44 billion in the comparable period of 2007. Profit after tax stood at N4.71 billion compared with N2.012 billion in 2007.
INTERCONTINENTAL WAPIC INSURANCE PLC: Audited result for the year ended 31st December 2007 shows Gross Premium of N3.9 billion as against N3.15 billion in 2006. Profit after tax stood at N533.33 million compared with N701.12 million in 2006. The Directors are recommending a dividend of N0.125 per share and bonus of 1 for 5. The date of closure of register of members is August 11, 2008 while payment date is August 28, 2008.
AIICO: INSURANCE PLC: Audited result for the year ended 31st December 2007 shows Gross Premium of N5.25 billion as against N3.41 billion in 2006. Profit after tax stood at N304.71 million compared with N483.7 million in 2006.
IPWA PLC: Audited result for the year ended 31st December 2007 shows Turnover of N485.7 million as against N303.92 million in 2006. Profit after tax stood at N68.52 million compared with loss after tax of N50.2 million in 2006. The Directors are recommending a dividend of N0.02 per share. The date of closure of register of members is August 25, 2008 while payment date is September 22, 2008.
NEIMETH INTERNATIONAL PHARMACEUTICAL PLC: Audited result for the year ended 31st March 2008 shows Turnover of N1.95 billion as against N1.5 billion in 2007. Profit after tax stood at N98.3 million compared with N116.41 million in 2007. The Directors are recommending a dividend of N0.12 per share and bonus of 1 for 4. The date of closure of register of members is August 29, 2008 while payment date would be advised later.
ALUMINUM EXTRUSION INDUSTRIES PLC: Audited result for the year ended 31st December 2007 shows Turnover of N1.04 billion as against N864.3 million in 2006. Profit after tax stood at N51.7 million compared with N20.7 million in 2006.
ECOBANK NIGERIA PLC: Unaudited result for the half year ended 30th June 2008 shows Gross Earnings of N25.04 billion, as against N16.1 billion in the comparable period of 2007. Profit after tax stood at N4.1 billion compared with N3.42 billion in 2007.
THE OKOMU OIL PALM PLC: Unaudited result for the first quarter ended 31st March 2008 shows Turnover of N1.8 billion, as against N924.4 million in the comparable period of 2007. Profit after tax stood at N889.31 million compared with N263.12 million in 2007.
JAPAUL OIL & MARITIME SERVICES PLC: Unaudited result for the half year ended 30th June 2008 shows Turnover of N1.5 billion, as against N1.0 billion in the comparable period of 2007. Profit after tax stood at N468.5 million compared with N183.6 million in 2007.
TANTALIZERS PLC: Unaudited result for the half year ended 30th June 2008 shows Turnover of N2.2 billion, as against N1.84 million in the comparable period of 2007. Profit after tax stood at N239.2 million compared with N82.71 million in 2007.
LIVESTOCK FEEDS PLC: Unaudited result for the half year ended 30th June 2008 shows Turnover of N848.91 million, as against N452.34 million in the comparable period of 2007. Profit after tax stood at N52.32 million compared with N23.72 million in 2007.
TRANS-NATIONWIDE EXPRESS PLC: Unaudited result for the half year ended 30th June 2008 shows Turnover of N226.64 million, as against N173.72 million in the comparable period of 2007. Profit after tax stood at N25.35 million compared with N25 million in 2007.
FTNCOCOA PROCESSORS PLC: Audited result for the 4 months ended 30th April 2008 shows Turnover of N324.6 billion, as against N2.7 billion during the year ended December 31, 2007. Profit after tax stood at N143.2 million compared with profit after tax and extra-ordinary items of N142.8 million during the year ended December 31, 2007.
PRESTIGE ASSURANCE PLC: Unaudited result for the half year ended 30th June 2008 shows Gross Premium of N1.75 billion, as against N1.05 billion in the comparable period of 2007. Profit after tax stood at N383 million compared with N242 million in 2007.
CONSOLIDATED HALLMARK INSURANCE PLC: Unaudited result for the half year ended 30th June 2008 shows Gross Premium of N1.41 billion, as against N578.8 million in the comparable period of 2007. Profit after tax stood at N473.7 million compared with N163.8 million in 2007.
STACO INSURANCE PLC: Unaudited result for the half year ended 30th June 2008 shows Gross Premium of N1.4 billion, as against N656.52 million in the comparable period of 2007. Profit after tax stood at N680.01 million compared with N301.2 million in 2007.
STANDARD ALLIANCE INSURANCE PLC: Unaudited result for the half year ended 30th June 2008 shows Gross Premium of N2.1 billion, as against N1.3 billion in the comparable period of 2007. Profit after tax stood at N577.85 million compared with N231.94 million in 2007.
UNITED NIGERIAN TEXTILES PLC: Audited result for the year ended 31st December 2007 shows Turnover of N18.5 billion as against N20.3 billion in 2006. Loss after tax and exceptional income stood at N1.73 billion compared with loss after tax of N756.5 million in 2006.
UNITED NIGERIAN TEXTILES PLC: Unaudited result for the first quarter ended 31st March 2008 shows Turnover of N3.1 billion, as against N5.14 billion in the comparable period of 2007. Loss after tax stood at N213.54 million compared with N101.4 million in 2007.
REPORT ON THE OTC MARKET FOR FGN BONDS
A turnover of 191 million units worth N189.6 billion in 1650 deals was recorded this week, in contrast to a total of 371.63 million units valued at N368.14 billion exchanged in 3413 deals during the week ended July 31, 2008. The most active bond (measured by turnover volume) was the 4th FGN Bond 2014 Series 3 with a traded volume of 24.4 million units valued at N25.95 billion in 212 deals.
