MTN Nigeria Boosts SWOOTs Capitalization By N6.11 Billion

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The combined market capitalization of stocks worth over one trillion (SWOOTs) appreciated by 0.03% to close at N20.42 trillion from N20.41 trillion the previous week, reflecting a gain of N6.11 billion. Stocks included in this classification are AIRTELAFRICA, BUA CEMENT, DANGOTE CEMENT, NESTLE and MTNN Plc.

Stock Performance:

MTNN Plc – N230.30

MTNN Plc’s share price, at the end of the trading week, appreciated by 0.13% to close at N230.30 per share, taking its market capitalization to N4.69 trillion at the end of the trading sessions of the week. The communications company, a competitor of Airtel Nig Plc, has a total market capitalization of N4.69 trillion, N1.82 trillion lower than Airtel Africa’s current market value.

MTNN Plc ended the week as the third-most capitalized company on the exchange.

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.

MTN Nigeria Boosts SWOOTs Capitalization By N6.11 Billion

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

BUA Cement Plc – N71.90

BUA Cement Plc’s share price remained unchanged to close at N71.90, with the market capitalization standing at N2.43 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 – N275.00

Dangote Cement Plc’s share price stood unchanged to close at N275.00 at the end of the trading week as the company’s market capitalization stood at N4.69 trillion. 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 N4.69 trillion.

Dangote Cement Plc is the third most-valued company quoted on the exchange and makes up roughly 23% 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.

Airtel Africa Plc – N1,732.20

Airtel Africa Plc’s share price remained unchanged to stand at N1,732.20 per share at the end of the trading week, with a market capitalization of N6.51 trillion.

Airtel Africa Plc ended the week as the most capitalized company on the exchange once again, leading the SWOOTs strongly, with MTNN, its competitor and second-most capitalized stock, far behind.

The 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.

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.