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Share value soars by N51bn

Michael Eboh and Providence Obuh
The value of listed equities on the Nigerian Stock Exchange (NSE) appreciated further, Monday, by N51.04 billion.
In particular, equities’ value, represented by the market capitalisation and the All share index both rose by 0.77 percent.

The capitalisation which opened at N6.652 trillion closed at N6.703 trillion, while index rose by 211.03 bases point to 27,714.39 point from 27,503.36 point at which it opened.

Meanwhile, International Breweries Plc announced a loss after tax of N285.54 million in its December 31, 2009 financial statement released to the investing community.

This is in comparison to a profit after tax of N63.5 million recorded in its 2008 financial statements.
The company’s gross earnings grew by 73.41 per cent to N1.62 billion from N931.92 million recorded in 2008, while it recorded a loss before tax of N285.54 million.

However, in its March 31, 2010, first quarter audited financial statements, the company recorded a profit after tax of N390.28 million compared to a loss after tax of N1.44 billion recorded in similar period in 2009.

It recorded a turnover of N777.52 million, rising by 127.73 per cent from N341.43 million recorded in 2008, while it posted a profit before tax of N390.28 million compared to N1.44 billion recorded in 2008.|

The upswing in the market was occasioned by gains on the share price of blue chip companies, led by Total Nigeria Plc, with a gain of N10.15 to close at N214.90 per share, followed by Julius Berger Nigeria Plc with a gain of N2.70 to close at N56.70 per share and Lafarge WAPCO Cement Plc N2.10 to close at N44.10 per share.

Other share price gainers include: Guinness Nigeria Plc N2.02, Unilever Nigeria Plc N1.40, Cadbury Nigeria Plc N1.36, Benue Cement Company Plc N1.00, Dangote Flour Mill Plc N0.85, Stanbic IBTC Bank Plc N0.51, UAC Nigeria Plc N0.48, among others.

On the contrary, Mobil Oil Nigeria Plc recorded the highest share price loss, shedding N7.94 to close at N150.90 per share, followed by Northern Nigeria Flour Mills Plc with a loss of N1.85 to close at N35.34 per share and Flour Mills Nigeria Plc dipped by N1.30 to close at N71 per share.  Other share price losers include: Ecobank Transnational Incorporation N1.03, Okomu Oil Palm Plc N0.79, Oando Oil Plc N0.55, Chellarams Plc N0.54, Nigeria Breweries Plc N0.49, May and Baker Nigeria Plc N0.39, RT Briscoe Plc N0.29, among others.

However, equities trading dipped by 52.05 per cent, as a turnover of 353.75 million shares valued at N3.243 billion was recorded in 8,423 deals, as against the previous day’s turnover of 737.82 million shares valued at N8.539 billion in 11,201deals.


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