- SWOOTs (Stocks Worth Over One Trillion) include Airtel Africa, MTN Nigeria, Dangote Cement, BUA Foods and BUA Cement.
- The combined market capitalization of SWOOTs appreciated by 3.81% to N20.617 trillion.
- BUA Cement traded negatively, while all other stocks in SWOOTs had a positive week.
SWOOTs are known as Stocks Worth Over One Trillion. They are the stocks with a market valuation of at least N1 trillion.
The stocks in this category are Airtel Africa, MTN Nigeria, Dangote Cement, BUA Foods, and BUA Cement.
At the close of market activities for the week, the combined market capitalization of SWOOTs appreciated by 3.81% to close at N20.617 trillion from N19.859 trillion the previous week, reflecting a gain of N757.17 billion.
Shares of Airtel, MTN, Dangote Cement, and BUA Foods all gained, with only BUA Cement the stock to close negative.
A summary of the performance of each stock is analyzed below.
MTN Nigeria Plc
MTN Plc’s share price appreciated by 9.60% from last week to close at N274. 00 per share.
The telecom giant retains its status as the most valued company at NGX as its market capitalization rose to N5.577 trillion gaining N488.51 billion from last week.
In its unaudited financial report for Q1 2023, MTN had 20.6% revenue growth to N568.14 billion from N470.98 billion in Q1 2022.
The Profit After Tax also grew by 4.6% to N101.30 billion from N96.82 billion recorded in Q1 2022.
BUA Cement Plc
BUA Cement Plc’s share price lost -6.52% from last week as it closed at N86 per share. Its market capitalization fell to N2.91 trillion. It is the only stock in the SWOOT category to close negative.
The company’s unaudited financial report for Q1 2023 revealed revenue of N106.35 billion, reflecting a growth of 9.65% from N96.99 billion in 2021.
Meanwhile, profit after tax for Q1 2023 fell by -19.1% to N26.80 billion from N33.14 billion recorded in the corresponding period.
Earnings Per Share (EPS) also fell by -19.39% from N0.98 to N0.79.
BUA Foods Plc
The share price of BUA Foods Plc appreciated by 4.50% from last week to close at N135.75 per share. Similarly, the market capitalization gained N105.30 billion to close at N2.44 trillion.
In its reported unaudited financial statement for Q1 2023, revenue grew by 60.2% to N144.32 billion from N90.06 billion recorded in Q1 2022.
Profit After Tax for the period rose by 77.1% to N40.47 billion from the N22.84 billion recorded in Q1 2022.
Earnings Per Share (EPS) grew to N2.25 an increase of 77% recorded in Q1 2022.
Airtel Africa Plc
Airtel Africa Plc’s share price gained 7.78% from last week to close at N1289 per share. Its market capitalization gained N349.51 billion to close at N4.84 trillion.
According to its audited financial report, Airtel Africa raked in the sum of N980 billion ($2.128 billion) from its services for the financial year ending March 31, 2023. This represents a 20.3% growth year on year compared with the N864.9 billion ($1.878 billion) recorded in the same period last year.
Dangote Cement Plc
Dangote Cement Plc’s share price gained 0.35% from last week to close at N284 per share.
The company, which is the most capitalized cement producer on the NGX, has a total Market capitalization of N4.84 trillion.
The unaudited Q1 2023 financial result revealed a marginal loss in revenue of –N6.46 billion (1.56%) to N406.72 billion from N413.18 billion in Q1 2022.
Meanwhile, Profit After Tax for the period marginally increased by N3.65 billion (1.56%) to N109.50 billion from N105.85 billion in Q1 2022.
What You Should Know
The market opened for four trading days this week as the Federal Government of Nigeria declared Monday 12th June 2023 as Public Holiday to commemorate Democracy Day.
The NGX All-Share Index and Market Capitalization appreciated by 5.49% to close the week at 59,000.96 and N32.126 trillion respectively.
This surge is a result of new economic policies implemented by President Tinubu which saw the removal of Godwin Emefiele as CBN Governor and also the unification of the foreign exchange rate.
The SWOOTs with a combined market valuation of N20.617 trillion make up over 60% of the entire NGX, hence, strongly influencing the growth or otherwise of the exchange.