Courtesy of Investor Delight, here is the weekly report for the week ended Friday, November 14th 2008:
A turnover of 2 billion shares worth N18.55 billion in 53,739 deals was recorded this week, in contrast to a total of 1.8 billion shares valued at N13.74billion exchanged last week in 38,845 deals.
There were no transactions in the Federal Government Development Stocks, State Government Bonds and Industrial Loans/Preference Stocks sectors.
The Banking subsector was the most active during the week (measured by turnover volume), with 1.1 billion shares worth N13.82 billion exchanged by investors in 33,773 deals. Volume in the Banking subsector was largely driven by activity in the shares of Access Bank Plc, First City Monument Bank Plc and Oceanic Bank International Plc. Trading in the shares of the three banks accounted for 397.44 million shares, representing 36.4% of the subsector’s turnover.
The Insurance subsector, boosted by activity in the shares of International Energy insurance Plc and Investment and Allied Assurance Plc, followed on the week’s activity chart with a turnover of 482.25 million shares valued at N878.92 million in 5,125 deals.
Last week, the Banking subsector led on the activity chart and was followed by the Insurance subsector.
Price Movement
The All-Share Index rose by 10.3% to close on Friday at 37,876.06. The market capitalization of the 197 First -Tier equities closed higher at N8.31 trillion. Sixty (60) stocks appreciated in price during the week, higher than the twenty-two (22) in the preceding week. Two stocks each from the Breweries and Banking subsectors occupied the Top four positions on the gainers table.
Guinness Nigeria Plc led on the gainers’ table with a gain of N22.50 to close at N104.03 per share while Nigerian Breweries Plc followed with N9.13 to close at N45.00 per share. Other price gainers in the Top 10 category include:
+ First Bank of Nigeria Plc - N6.11
+ Zenith Bank Plc - N5.85
+ Dangote Sugar Refinery Plc - N4.05
+ Guaranty Trust Bank Plc - N3.79
+ Dangote Flour Mills Plc - N3.36
+ United Bank for Africa Plc - N3.12
+ Costain (WA) Plc - N3.00
+ Nigerian Aviation Handling Co. Plc - N2.85
Forty (40) stocks depreciated in price during the week, lower than the seventy-nine (79) in the preceding week. Two Petroleum (Marketing) stocks led on the losers table.
As in the preceding week, Chevron Oil Nigeria Plc led on the price losers’ table, dropping by N44.41 to close at N267.00 per share while Oando Plc followed with a loss of N27.09 to close at N119.02 per share. Other price losers in the Top 10 category include:
- Nig. Enamelware Plc - N13.67
- Julius Berger Nigeria Plc - N6.18
- Benue Cement Co. Plc - N5.56
- Nig. Bottling Co. Plc - N3.22
- BOC Gases Plc - N2.90
- UACN Plc - N1.77
- Neimeth International Pharmaceutical Plc - N1.00
- Lafarge WAPCO Plc - N0.90
The price of Nigerian Enamelware Plc was adjusted for dividend of N0.60 per share and bonus of 1 for 5 as recommended by the Board of Directors.
Supplementary Listing
A total of 11,520,000 shares were added to the shares outstanding in the name of Nigerian Enamelware Plc on following from the bonus of 1 for 5.
Company News
- ZENITH BANK PLC: Audited result for the 15 months ended 30th September 2008 shows Gross Earnings of N208.3 billion as against N94.9 billion during the 12 months ended 30th June 2007. Profit after tax stood at N52 billion compared with N18.8 billion in June 2007. The Directors are recommending a dividend of N1.70 per share.The date of closure of register of members is November 24, 2008 while payment date is December 5, 2008. The Annual General Meeting is scheduled to hold on Thursday, December 4, 2008
- PLATINUM HABIB BANK PLC: Unaudited result for the first quarter ended 30th September 2008 shows Gross Earnings of N34.8 billion, as against N14.6 billion in the comparable period of 2007. Profit after tax stood at N6.54 billion compared with N3.55 billion in 2007.
- FIDELITY BANK PLC: Unaudited result for the first quarter ended 30th September 2008 shows Gross Earnings of N13.94 billion, as against N7.7 billion in the comparable period of 2007. Profit after tax stood at N3.02 billion compared with N2.64 billion in 2007.
- AFRICAN PETROLEUM PLC: Unaudited result for the third quarter ended 30th September 2008 shows Turnover of N122.95 billion, as against N74.81 billion in the comparable period of 2007. Profit after tax stood at N5.05 billion compared with N2.82 billion in 2007.
- BENUE CEMENT PLC: Unaudited result for the third quarter ended 30th September 2008 shows Turnover of N9.82 billion, as against N4.5 billion in the comparable period of 2007. Profit after tax stood at N4.8 billion compared with profit after tax and extra-ordinary items of N2 billi0n in 2007.
- JULIUS BERGER NIGERIA PLC: Unaudited result for the third quarter ended 30th September 2008 shows Turnover of N69.5 billion, as against N49.65 billion in the comparable period of 2007. Profit after tax stood at N1.7 billion compared with N995.0 million in 2007.
- GLAXO SMITHKLINE CONSUMER PLC: Unaudited result for the third quarter ended 30th September 2008 shows Turnover of N9.3 billion, as against N7.4 billion in the comparable period of 2007. Profit after tax stood at N1.12 billion compared with N728 million in 2007.
- UNION DIAGNOSTICS & CLINICAL SERVICES PLC: Unaudited result for the third quarter ended 30th September 2008 shows Turnover of N918.51 million, as against N545.8 million in the comparable period of 2007. Profit after tax stood at N386.71 million compared with N255.1 million in 2007.
- TANTALIZERS PLC: Unaudited result for the third quarter ended 30th September 2008 shows Turnover of N3.3 billion, as against N2.75 billion in the comparable period of 2007. Profit after tax stood at N344.03 million compared with N140.85 million in 2007.
- COSTAIN (WEST AFRICA) PLC: Unaudited result for the half year ended 30th September 2008 shows Turnover of N590.82 million, as against N558.42 million in the comparable period of 2007. Profit after tax stood at N300.3 million compared with N130.55 million in 2007.
- NORTHERN NIGERIA FLOUR MILLS PLC: Unaudited result for the half year ended 30th September 2008 shows Turnover of N4.7 billion, as against N2.45 billion in the comparable period of 2007. Profit after tax stood at N75.2 million compared with N32.3 million in 2007.
- EKOCORP PLC: Unaudited result for the third quarter ended 30th September 2008 shows Turnover of N193.52 million, as against N166.0 million in the comparable period of 2007. Profit after tax stood at N35.31 million compared with N40.2 million in 2007.
- INTERNATIONAL ENERGY INSURANCE PLC: Unaudited result for the third quarter ended 30th September 2008 shows Gross Premium of N2.41 billion, as against N1.6 billion in the comparable period of 2007. Profit after tax stood at N1.6 billion compared with N590.15 million in 2007.
- GOLDLINK INSURANCE PLC: Unaudited result for the third quarter ended 30th September 2008 shows Gross Premium of N2.12 billion, as against N1.8 billion in the comparable period of 2007. Profit after tax stood at N619.51 million compared with N490.4 million in 2007.
- CONSOLIDATED HALLMARK INSURANCE PLC: Unaudited result for the third quarter ended 30th September 2008 shows Gross Premium of N1.92 billion, as against N999.82 million in the comparable period of 2007. Profit after tax stood at N597.45 million compared with N89.23 million in 2007.
- EQUITY ASSURANCE PLC: Unaudited result for the third quarter ended 30th September 2008 shows Gross Premium of N1.85 billion, as against N1.23 billion in the comparable period of 2007. Profit after tax stood at N541.9 million compared with N150.7 million in 2007.
- STARCOMM PLC: Unaudited result for the third quarter ended 30th September 2008 shows Turnover of N27.13 billion, as against N14.73 billion in the comparable period of 2007. Loss after tax stood at N2.15 billion compared with N675.02 million in 2007.
- ADSWITCH PLC: Unaudited result for the first quarter ended 31st July 2008 shows Turnover of N9.31 million, as against N7.432billion in the comparable period of 2007. Loss after tax stood at N2.4 billion compared with N0.97 million in 2007.
- AFRICAN PAINTS (NIG) PLC: Audited result for the year ended 31st December 2007 shows Turnover of N59.9 million as against N78.11 million in 2006. Loss after tax stood at N16.42 million compared with N22.3 million in 2006.
- ALUMACO PLC: Audited result for the year ended 31st December 2007 shows Turnover of N417.83 million as against N500.62 million in 2006. Loss after tax stood at N39 million compared with N73.64 million in 2006.
- DUNLOP NIGERIA PLC: Unaudited result for the half year ended 30th June 2008 shows Turnover of N1.25 billion, as against N3.6 billion in the comparable period of 2007. Loss before tax stood at N1.5 billion compared with N500.72 million in 2007.
Company Forecasts
- AFRICAN PETROLEUM PLC: The Company forecasts a Turnover of N43.7 billion and profit after tax of N1.8 billion during the fourth quarter ending December 31, 2008.
- JULIUS BERGER NIGERIA PLC: The Company forecasts a Turnover of N102.1 billion and profit after tax of N2.43 billion by year ending December 31, 2008.
- NEM INSURANCE PLC: The Company forecasts Gross Premium of N4.05 billion and profit after tax of N726.34 million by year ending December 31, 2008.
- ROYAL EXCHANGE PLC: The Company forecasts Turnover of N1.1 billion and profit after tax of N89.05 million during the fourth quarter ending September 30, 2008.
- UNITY BANK PLC: The Bank forecasts Gross Earnings of N20.35 billion and profit after tax of N8.2 billion during October – December 2008.
Report On The OTC Market For FGN Bonds
A turnover of 275.7 million units worth N274.4 billion in 1,800 deals was recorded this week, in contrast to a total of 237.8 million units valued at N237.9 billion exchanged in 2,036 deals during the week ended Thursday, November 6, 2008. The most active bond (measured by turnover volume) was the 4th FGN Bond 2010 Series 14 with a traded volume of 48.7 million units valued at N48.9 billion in 224 deals. This was followed by the 4th FGN Bond 2010 Series 4 with a traded volume of 32.3 million units valued at N31.52 billion in 136 deals. Twenty-Five (25) of the available 41FGN Bonds were traded during the week compared to twenty-three in the preceding week.
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donne4real | November 18, 2008
