Top 10 performing stocks



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Top 10 performing stocks
Posted on: June 08, 2015, 08:56:08 PM

Costain West Africa Plc led the cream of price gainers on the Nigerian Stock Exchange, NSE last week as its share price rose by 12.77 per cent to close at N1.06 per share from N0.94 it closed penultimate week.

Specifically, Costain West Africa top the first ten equities on the gainers’ chart as twenty seven equities appreciated in price during the week under review, lower than thirty eight equities in the penultimate week. Over the last 60 years, Costain West Africa Plc has executed a wide range of building and civil engineering projects, throughout Nigeria for private organizations, Federal and State Governments. It has been able to leverage the experience and strength of the Costain Group’s worldwide activities.

Costain West Africa Plc went public on the 13th of March, 1974. Its shares were quoted on the exchange subsequently. Costain West Africa Plc was the first construction company to be quoted on the NSE. It is now independent of the Costain UK Group after it was acquired by Shoreline Energy International Limited, a closely held firm with Nigerian interest.

Trailing Costain West Africa on the price gainers’ list was Beta Glass Company Nigeria Plc. It appreciated by 10.08 per cent to close last week at N44.00 per share from N39.97 per share it close penultimate week. Beta Glass Company Plc has proposed a dividend of 62 kobo per share to its shareholders for the financial year end of 2014 as the closing date for its register has been fixed for 12th June, 2015.

The company reported revenue of N16.6billion in its full year result of 2014, indicating a growth of 18 per cent from N14.09 billion in the period of 2013.  Profit before tax increased by 63 per cent to N3.3 billion from N2.05 billion in 2013. Profit After Tax, PAT increased by 62 per cent from N1.474 billion  to N2.391 billion in 2014, Earning Per Share, EPS up by 62 per cent from 295kobo to 478 kobo in 2014.

Berger Paints Nigeria Plc occupied the third position on the price gainers’ chart as it rose by 10 per cent to close last week at N11.00 per share from N10.00 per share it close penultimate week. Berger Paints Plc recently announced the appointment of Peter Bababunmi Folikwe as the new Managing Director. According to the company, Folikwe brings on board over 24 years of experience in marketing, sales/distribution and general management; having worked in a number of top rated companies in Nigeria across a number of sectors in varied capacities.
Commenting on his appointment, the Chairman of the Board of Directors, Dr. Oladimeji Alo, explained that Folikwe emerged as the candidate most suitable to lead Berger Paints Nigeria Plc into the future after a rigorous selection process.

Berger Paints financial position for 2014 shows that total revenue stood at N3.082 billion as against N2.708 billion; Gross profit for 2014 stood at N1.346 billion as against N1.154 billion, while total operating expenses increased to N1.080 billion from 993 million in 2013.
Occupying the fourth position on the gainers’ chart was Portland Paint and Products Nigeria Plc as it appreciated by 9.62 per cent to close at N3.99 per share from N3.64 per share it close last penultimate week.

The low disposable income of consumers is one of the major challenges manufacturing companies are facing in Nigeria. This has often affected the financial performance of the quoted companies on the NSE. Portland Paints & Products Nigeria Plc (PPNP), for instance, recorded loss in  its operations in 2012 partly due to the challenging environment.

However, the company bounced back to profitability in 2013 as a result of various strategies employed by the board and management.
PPNP was incorporated as a private  limited liability company on  September 3,  1985. By special resolution on April 24, 2008, the company changed its name to PPNP upon becoming a public liability company. It got listed on the NSE on July 9, 2009.  UAC of Nigeria Plc later acquired majority equity in the company and currently controls 51 per cent.

Honeywell Flour Mills Plc was also in the price gainers chart, occupying the fifth position. The share price rose by 6.99 per cent to close last week at N3.98 per share from N3.72 per share it close penultimate week.

Other five equities in the top ten chart was Neimeth Pharmaceuticals Plc, Trans Nationwide Express Plc , Mobil Oil Nigeria Plc, Wema Bank Plc and NEM Insurance Company Nigeria Plc. Neimeth rose by 6.67 per cent to close at N1.28 from N1.20 per share, followed by Trans Nationwide which went up by 6.67 per cent to close at N1.28 per share from N1.20 per share. Mobil appreciated by 6.47 per cent to close at N156.30 per share from N146.80 per share, followed by Wema Bank which rose by 6.25 per cent to close N1.02 from 96 kobo, while NEM Insurance up by 3.70 per cent to close at 84 kobo from 81 kobo it close penultimate week.

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