Latest news with #NigerianExchange
Zawya
21-05-2025
- Business
- Zawya
Nigeria: NAHCO's shareholders applaud proposed $7mln dividend
Ahead of the 44th Annual General Meeting of NAHCO scheduled for Friday, May 23, 2025, shareholders for the company have been commending its unprecedented performance. The commendation came on the heels of the declaration of full-year 2024 audited results as profit before tax soared by 115.4 per cent to N18.70 billion in 2024 as against N8.68 billion in 2023. Total revenue rose by 88.5 per cent from N28.40 billion in 2023 to N53.54 billion in 2024. With increased top-line efficiency, gross profit increased by 120.53 per cent to N33.08 billion in 2024 as against N15 billion in 2023. Operating profit also jumped by 123.93 per cent from N8.86 billion to N19.84 billion, underscoring the fact that the groups performance was driven mainly by core business operations. Based on this result, the Dr Seinde Fadeni-led board of directors has recommended distribution of N11.58 billion as cash dividends to shareholders for the 2024 business year, more than double of N4.95 billion distributed for the 2023 business year. The Q1, 2025 unaudited results of the company submitted to the Nigerian Exchange (NGX), has also revealed that the Company is set to outperform the Q1, 2024 results with Q1, 2025 as revenue more than doubled the 2024 figure for the same period. National Coordinator, Independent Shareholders Association of Nigeria (ISAN), Mr. Moses Igbrude, commended the board and management of NAHCO for running the company in a way that delivers increasing values for the shareholders. 'NAHCO has done fantastically well, it has outperformed investors' expectations. The present board and management are running the business very well,' Igbrude said. He urged the company to continue its commendable growth trajectory, by continuing to explore other emerging opportunities. President, Association for the Advancement of Rights of Nigerian Shareholders (AARNS), Dr Faruk Umar said NAHCO has shown very impressive performance, citing the companys results for full-year 2024 and first quarter 2025. According to him, in 2024 had a robust financial performance which was unprecedented. He noted that the dividend of N5.94 per share declared by the board of directors is highly commendable. 'Looking at the 2025 first quarter result that witnessed a tremendous increase, we believe this year will be very impressive for shareholders. 'We commend the board chairman for his effective leadership, as well as the management and staff of the company for their dedication and commitment to the progress of the company,' Umar said. Mr Taiwo Oderinde, Chairman, Proactive Shareholders Association, speaking on the exemplary performance of the Company said that the profit has been awesome. According to Oderinde, Since the new investor came on board, the Company has been on the upward swing. The performance has been excellent. He urged the Board and Management of the Company not to rest on their oars even as he made a case for regular in-person AGM in the near future. In her own comments, the Chairman, Ark of God Shareholders Association, Mrs. Efunyemi Olatunde Obideyi said NAHCO has surprised all shareholders by its performance. Mrs Obideyi said the jump in the share price from N4 per share to N85.00 was unimaginable. Declaring that any shareholder who knew it would be like this would have bought more shares, she said, NAHCO keep surprising all of us with their performance. Contracts renewal with clients had been concluded at the rate of 95 per cent while new clients were onboarded during the period. NAHCO is also taking delivery of new Ground Support Equipment just arriving the Lagos Seaport which will further help service delivery. These series of developments have earned the commendation of shareholders, regulators and other stakeholders.
Zawya
08-05-2025
- Business
- Zawya
Nigeria: Bulls persist at NGX as investors gain $250mln
The local bourse sustained its winning streak, bringing the benchmark index up 0.45 per cent to settle at 108,849.83 basis points. Basically, at the Nigerian Exchange on Wednesday, gains in Guaranty Trust Holding Company, Zenith Bank, and Honeywell Flour Mills kept the market in the green, having appreciated in values by 3.85 per cent, 2.08 percent, and 9.81 per cent, respectively. Consequently, the year-to-date (YTD) return of the All Share Index (ASI) rose to 5.76 per cent. Market capitalization followed suit, also rising by 0.59 percent to N68.51 trillion, translating to a gain of approximately N403 billion in investors' breadth remained positive, as 48 stocks advanced while 17 declined. On the performance board, top gainers included Meyer, UPDC Real Estate Investment Trust, Beta Glass, The Initiates, and Vitafoam after their respective share prices appreciated by 10.00 percent, 10.00 percent, 9.98 percent, 9.95 percent, and 9.94 per cent. Conversely, the top decliners were Deep Capital Management and Trust, Veritas Kapital Assurance, Linkage Assurance, African Prudential, and UACN Property Development Company. They recorded depreciation in share values by 10.00 percent, 9.09 percent, 6.61 percent, 5.60 percent, and 4.46 per cent. Sectoral performance was mixed. The Banking, Consumer Goods, and Industrial Goods indices recorded gains of 2.12 percent, 2.11 percent, and 0.15 percent, respectively. In contrast, the Insurance, Oil & Gas, and Commodities sectors declined by 0.15 per cent, 0.18 per cent, and 0.25 per cent. Analysis of today's market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 32.25 per cent.A total of 587.47 million shares valued at N18.66 billion were exchanged in 17,496 deals. Guaranty Trust Holding Company led both the volume and value charts with 98.64 million units traded in deals worth N6.57 billion. Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
Zawya
06-05-2025
- Business
- Zawya
Nigeria: Equities market opens week strong as ASI adds 0.6%
Equities trading at the Nigerian Exchange (NGX) opened the trading week on a strong note, as the All-Share Index rose by 0.62 percent to close at 106,698.50 basis points. Market capitalization followed suit, increasing by 0.62 percent to N67.06 trillion, thereby adding approximately N412.3 billion to investors' wealth. Market breadth was positive, with 35 gainers outpacing 29 decliners. On the performance board, top gainers included Beta Glass, The Initiates, Cadbury Nigeria, Caverton Offshore Support Group, and Multiverse, after their respective share prices appreciated by 9.97 percent, 9.90 percent, 9.87 percent, 9.77 percent, and 9.45 percent. Conversely, Ecobank Transnational Incorporated, Meyer, Custodian Insurance, Mutual Benefits Assurance, and Access Holdings led the losers' chart, as their share prices declined by 9.62 percent, 6.70 percent, 4.72 percent, 4.49 percent, and 3.88 percent, respectively. Sectoral performance was largely positive: the Insurance, Consumer Goods, Oil & Gas, Industrial Goods, and Commodity sectors advanced by 2.69 percent, 2.90 percent, 2.58 percent, 0.07 percent, and 1.59 percent, respectively, while the Banking sector declined by 1.62 percent. Trading activity remained robust, with the number of deals, volume, and value traded rising by 1.33 percent, 0.66 percent, and 26.61 percent, respectively. Overall, transactions worth N18.93 billion were recorded across 18,612 deals involving 569.04 million units. On Monday, FBN Holdings was the toast of investors, as its shares topped the activity chart with 106 million units traded. Guaranty Trust Holding Company led in terms of value, with N5.6 billion worth of shares exchanged.
Zawya
21-03-2025
- Business
- Zawya
Nigeria: NGX ASI dips by 0.1% as lull persits for five days
At the close of trading at the Nigerian Exchange (NGX) on Thursday, the local bourse extended its negative trajectory, as the All-Share Index declined by 0.05 per cent to 104,858.77 basis points. The Nigerian equities market declined for the fifth consecutive session, extending its bearish run as sell-offs in Zenith Bank and Access Holdings drove the All-Share Index lower by 0.1 per cent. Market capitalisation also fell by 0.05 per cent to N65.75 trillion, reflecting a N35.3 billion loss in equities by session close. Consequently, the Month-to-Date and Year-to-Date returns moderated to -2.8 per cent and +1.9 per cent, respectively. Investor sentiment remained weak, as indicated by negative market breadth, with 14 stocks advancing against 28 decliners. On the performance board, leading the gainers were Computer Warehouse Group, Veritas Capital, Deap Capital Management and Trust, Wapic Insurance and Wema Bank, while Livestock Feeds, Royal Exchange, Custodian Insurance, UACN Property Development Company and Chams topped the losers' chart. Sectoral performance was mostly muted. The Insurance and Consumer Goods sectors gained 0.13 per cent and 0.39 per cent, respectively, while the banking sector declined by 0.43 per cent. The Oil/Gas, Industrial Goods, and Commodity sectors remained flat at 0 per cent. Trading activity was subdued, with the number of deals, total transaction volume, and transaction value declining by 15.23 per cent, 77.28 per cent and 49.51 per cent, respectively. A total of 10,182 transactions were recorded, amounting to N6.25 billion in value and 310.53 million units traded. Fidelity Bank was the most traded stock by volume, at 40.03 million units, while Zenith Bank was the most traded stock by value, at N1.07 billion. Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. ( by Kehinde Akinseinde-Jayeoba
