The SWOOTS Lose 0.35% In Market Capitalization To N13.42 Trillion

The combined market capitalization of the SWOOTs (stocks worth over one trillion)  depreciated by 0.35% to close at N13.42 trillion from N13.47 trillion the previous week. Stocks included in this classification are AIRTEL AFRICA, BUA CEMENT, DANGOTE CEMENT, NESTLE Plc and MTNN Plc.

BUA Cement Plc depreciated by 4.2% during the week to close at N68.00 from N71.00 per share, while Airtel Africa appreciated by 2.3% to close at N615.00 from N601.00 per share.

As a ripple effect, the NGX Industrial Index, which BUA Cement Plc falls into, felt the impact as the sector depreciated by 0.90%.

Airtel Africa Plc, on the other hand, holds 40.76% of the shares under the communication sector.

BUA Cement Plc – N68 per share

Bua Cement Plc started the trading week with a market capitalization of N2.40 trillion at N71 per share, but closed the week at N68 per share with a market cap of N2.30 trillion losing a total of N101.59 billion at the end of the week.

The company released its financial report for Q2 2021, reporting revenue of N63.09 billion, reflecting a growth of 33.41% from N47.29 billion in 2020.

Similarly, net income increased by N6.16 billion, reflecting a 41.43% increase from N14.87 billion recorded in the corresponding period of 2020 to N21.03 billion in the current period.

Airtel Nigeria Plc – N615 per share

Airtel Nigeria Plc started the trading week with a market capitalization of N2.26 trillion at N601 per share, but closed the week at N615 per share with a market cap of N2.31 trillion gaining a total of N52.61 billion at the end of the week.

The communications company, a major competitor of MTN Nigeria Plc and Chams Plc, increased the sectoral market cap by 0.94%. The company is yet to release its Q2 2021 result.

Other companies under the SWOOT classification remained unchanged in share prices. Their performances are summarized below.

Dangote Cement Plc – N248.10 per share

Dangote Cement Plc’s share price remained flat week-on-week to close at N248.10. The company, which is a competitor to BUA Cement Plc and Wapco Plc has a total market capitalization of N4.23 trillion.

Dangote Cement recently announced the commissioning of the new Dangote Cement $1 billion six million Metric Tonnes Per Annum (MTPA) facility located at Okpella, Edo state as part of efforts by the cement company to boost cement production in the state and across the country.

The Q2 2021 financial result revealed that revenue grew by 57.20% while net income for the period appreciated by 55.48% from N65.55 billion in Q2 2020 to N101.92 billion in the current period.

Nestle Nigeria Plc – N1,540 per share

Nestle Nigeria Plc’s share price also remained unchanged at the end of the week, to close at N1,540. The fast-moving consumer goods company currently has a market capitalization of N1.22 trillion. Nestle Nigeria Plc is the only company under the NGX Consumer Goods Index to be worth over a trillion.

Earlier in the month, the Board of Nestle Nigeria Plc approved a final dividend payment of N28.14 billion representing N35.50 per share to be paid to existing shareholders for the 2020 financial year.

The Q2 2021 financial result revealed a 19.07% growth in revenue from N70.7 billion recorded in Q2 2020 to N84.18 billion.

The consumer goods company, reported a profit after tax of N9.33 billion, reflecting a decline of 12.23% from N10.63 billion in the corresponding quarter of 2020.

MTN Nigeria Plc – N165 per share

MTNN Plc’ share price remained at N165.00 at the end of the week. The communications company, a competitor to Airtel Nigeria Plc, has a total market capitalization of N3.36 trillion, N1.05 trillion higher than Airtel Nigeria’s current market value.

The company is the second-highest in market value on the Nigerian Exchange Limited (NGX), right after Dangote Cement Plc.

MTNN Plc has released its Q2 2021 financial result, reflecting a 24.01% growth in revenue for the period, while profit after tax grew by 49.48% from N94.88 billion in Q2 2020 to N141.83 billion in the current period. The company has approved an interim dividend of N4.55kobo to existing shareholders, to be paid on the 27th of August, 2021.