7 months ago

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.

Wednesday 11 April 2018 BUSINESS DAY 39

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