BusinessDay 11 Apr 2018

38 BUSINESS DAY
Wednesday 11 April 2018
Live @ The Stock Exchange
Top Gainers/Losers as at Tuesday 10 April 2018 Market Statistics as at Tuesday 10 April 2018
GAINERS
Company Opening Closing Change
MOBIL N170 N178.5 8.5
DANGCEM N252 N255 3
INTBREW N49.15 N51.5 2.35
WAPCO N41 N42.4 1.4
DANGSUGAR N21.45 N22 0.55
LOSERS
Company Opening Closing Change
TOTAL N236.6 N233.8 -2.8
UNILEVER N55 N53.1 -1.9
FO N40 N38.6 -1.4
ZENITHBANK N26.9 N26.35 -0.55
GUARANTY N43.5 N43 -0.5
ASI (Points) 40,499.04
DEALS (Numbers) 4,222.00
VOLUME (Numbers) 388,277,458.00
VALUE (N billion) 4.208
MARKET CAP (N Trn 14.628
Nigeria equity market halts two-day
losing streak, rebound by 0.17%
MICHEAL ANI
Activities in the
Nigerian stock
market saw a
positive turn
around, as market
indicators on Tuesday
rebounded by 0.17 percent,
following gains from Mobil
and Dangote Cement. The
market had recorded a loss
for two straight trading days.
All-Share Index appreciated
by 69.86 points or 0.17
per cent to close at higher at
40,499.04points compared
to 40,429.18points it recorded
the previous trading day.
The appreciation recorded
in the share prices
of Dangote Cement, International
Breweries, ETI,
Lafarge Africa, and Nigerian
Breweries were mainly responsible
for the gain recorded
in the Index.
Similarly, the Market
Capitalisation appreciated
by N25billion or
0.17 percent to close at
N14.63trillion, compared
with N14.607trillion recorded
on Monday.
The three most actively
traded stocks were Sovereign
Trust Insurance
(82.45mn), Zenith Bank
(43.98mn) and Skye Bank
(37.45mn).
An analysis of the price
movement table indicated
that Mobil led the gainers’
table with a gain of N8.50 to
close at N178.50 per share.
Dangote Cement came
second with N3 to close at
N255, while International
Breweries increased by
N2.35 to close at N51.50 per
share.
Lafarge Africa chalked
up N1.40 to close at N42.40,
while Dangote Sugar appreciated
by 55k to close at N22
per share.
On the flip side, Total
recorded the highest loss
to lead the losers’ chart,
dipping N2.80 to close at
N233.80 per share. Unilever
lost N1.90 to close at N53.10,
while Forte Oil dipped N1.40
to close at N38.60 per share.
Zenith Bank dropped
55k to close at N26. 35, while
GT Bank decreased by 50k
to close at N43 per share.
Sovereign Trust Insurance
was the toast of investors
with an exchange of
82.46 million shares valued
at N16.53 million.
It was followed by Zenith
Bank with 43.98 million
worth N1.16 billion, while
Skye Bank accounted for
37.46 million shares valued
at N24.26 million.
Flour Mills says rights issue 111% subscribed
Flour Mills of Nigeria
Plc has announced
the results of its recently
concluded
N39.9billion Rights Issue
of 1,476,142,418 ordinary
shares of 50 kobo each at
N27 per share on the basis
of 9 new shares for every 16
shares.
The Rights Issue, which
is the first and only share
issuance under Flour Mills’
N40 billion Rights Issue
Programme, was well received
by the Company’s
broad retail and institutional
shareholder base,
with a subscription level of
111percent.
Commenting on the
success of the Rights Issue,
Paul Gbededo, the Group
Managing Director of Flour
Mills, stated that the strong
appetite exhibited by shareholders
in the Rights Issue
was a strong vote of confidence
in the Company.
“The Rights Issue is aimed at
strengthening our balance
sheet and positioning the
Company for sustainable
growth. We value the strong
level of support shown by
our shareholders and our
focus remains on growing
and building long-term value
for all stakeholders”.
Flour Mills of Nigeria will
use the proceeds from the
Rights Issue to settle part
of its outstanding overdraft
and short term debt obligations.
The significant investor
demand demonstrates
the strength of the Flour
Mills’ brand, thriving shareholder
goodwill and robust
access to the equity capital
market.
The newly issued shares
are currently in the process
of being listed on The Nigerian
Stock Exchange, and
trading of the shares will
commence shortly thereafter.
Stanbic IBTC Capital
Limited acted as the Lead
Issuing House whilst FB-
NQuest Merchant Bank
Limited and Zenith Capital
Limited acted as Joint Issuing
Houses to the Rights
Issue.
GTBank shareholders approve
dividend payment
… We will continue to lead the future of banking – Agbaje
Iheanyi NwACHukwu
The shareholders
of Guaranty Trust
Bank Plc (GT-
Bank) on Tuesday
April 10, 2018 at the company’s
28th annual general
meeting (AGM) approved
for the Board of Directors
to pay dividend of N2.40per
share, which brings the
bank’s total dividend paid
for 2017 financial year to
N2.70.
At the AGM, the shareholders
received and approved
the audited financial
statements of the bank
for the year ended December
31, 2017 and the reports
of the directors, auditors,
and statutory audit committee.
Guaranty Trust Bank Plc
recorded profit before tax
(PBT) of N200.2billion for
the 2017 financial year, representing
a growth of 21.3
percent over 165.1billion
posted in the corresponding
year ended December
2016.
This was contained in
its audited financial results
for the year ended December
31, 2017 presented to
shareholders at the meet-
For the full year
ended December
2017, Lafarge Africa
Plc declared a
dividend of N1.50 per share
totaling N13bn. This represents
a 43peercent increase
growth relative to the dividend
paid in 2016.
Lafarge Africa Plc notified
the Nigerian Stock
Exchange (NSE) and the
general public that at the
meeting of its Board of
Directors held on Friday
April 6, 2018, the Board
resolved that subject to
the ratification of members
at the Annual General
Meeting of May 16,
2018, a dividend of N1.50
kobo per share will be
paid to shareholders from
ing.
A review of the results
showed positive performance
across all financial
indices as its gross earnings
for the year grew by 1.1
percent to N419.2billion
from N414.6billion reported
in the December 2016;
driven primarily by growth
in interest income as well
as e-payment revenues.
“Given the gains recorded
in 2017 and continuing
improvements in key
Segun Agbaje, managing
director/chief executive
officer, GTBank Plc
Lafarge Africa to pay N13bn in dividends
the 2012/2013 pioneer
profit of the Company and
not subject to deduction of
withholding tax in respect
of the year ended December
31, 2017. Bruno Bayet,
Chief Financial Officer
Lafarge Africa Plc also disclosed
this in a statement
on Tuesday.
In addition, the company’s
recurring EBITDA
doubled to N57.6 billion.
The CEO of Lafarge Africa
Plc Michel Puchercos attributed
the strong margins
in the Nigerian business to
cost initiatives and more favourable
pricing.
Puchercos stated that
Lafarge Africa Plc’s industrial
operations in 2017
were stable with plants op-
macro-economic indicators,
it is widely expected
that the monetary and fiscal
authorities will consolidate
on the 2017 gains in
2018,” Osaretin Demuren,
chairman GTBank Plc
said at the annual general
meeting held in Lagos.
In line with this expectation,
the bank is
optimistic about the future,
as Demuren said
the bank “will continue
to position ourselves to
take advantage of the immense
opportunities in
all the markets in which
we operate in order to
grow our earnings, improve
profitability and
deliver returns to our esteemed
shareholders”.
Segun Agbaje, Managing
Director/Chief Executive
Officer, GTBank Plc
said, “We will continue to
lead the future of banking,
not just because we will
continue to pursue technological
advancement
and digital capabilities
that keep us ahead of the
curve, but because we will
always stay true to the values
of hard work, transparency,
integrity and putting
the customer at the center
of everything that we do.”
erating at high reliability
levels. He also noted that
the energy optimization
plan for the company has
been successful with increased
use of Alternative
Fuel and Coal to offset gas
shortages in operations in
the West while plant operations
in the eastern and
northern part of the country
relied mainly on gas and
coal. He said these logistic,
commercial and operational
initiatives helped to
sustain market share in the
year under review.
The expected recovery
in the macroeconomic
environment in Nigeria is
likely to have a positive impact
in the overall cement
market in Nigeria.