Fourty-nine stocks depreciated in price during the week, lower than the 58 of the preceding week. Guinness Nigeria Plc led on the price losers’ table, dropping by N10.13 or 5 per cent to close at N192.62 per share, Oando Plc followed with a loss of N3.00 or 4.29 per cent to close at N67.00 per share and Unilever Nigeria Plc dipped by 2.46 or 8.2 per cent to close at N27.54 per share.

Other share price losers include: Conoil Plc N2.00, African Petroleum Plc N1.25, May and Baker Nigeria Plc N0.54 per share, Ashaka Cement Plc N0.50, Okomu Oil Palm Plc N0.44, Skye Bank Plc N0.36, Intercontinental Bank Plc N0.34, among others.

Nestle Nigeria Plc led 24 other stocks on the gainers’ table with a gain of N20.55 or 5 per cent  to close at N431.55 per share, appreciated in price during the week, lower than the 27 of the preceding week, Nigerian Bottling Company Plc followed with a gain of N3.36 or 9.20 per cent to close at N39.90 per share and Nigerian Breweries Plc garnered  2.50 or 3.25 per cent to close at N79.50 per share.

Other share price gainers’ include: Flour Mills Nigeria Plc N1.39, Honeywell Flour Mill Plc N0.60, Diamond Bank Plc N0.40, First Bank of Nigeria Plc N0.37, RT Briscoe Plc N0.27,  Eterna Oil and Gas Plc N0.24, Guaranty Trust Bank Plc N0.24, among others.

OTC MARKET FOR FGN BONDS
A turnover of 199.35 million units worth N174,788.43 million in 1,466 deals was recorded this week, in contrast to a total of 191.8 million units valued at N180,595.5 million exchanged in 1,366 deals during the week ended Thursday, February 10, 2011.

The most active bond (measured by turnover volume) was the 10.00 per cent FGN July 2030 (7th FGN Bond 2030 Series 3) with a traded volume of 94.7 million units valued at N76,851.52 million in 771 deals.

This was followed by the 4.00 per cent FGN April 2015 (7th FGN Bond 2015 Series 2) with a traded volume of 33.7 million units valued at N26,416.93 million in 323 deals. Twelve of the available 33 FGN Bonds were traded during the week compared with 14 in preceding week.

COMPANIES RESULTS

JOHN HOLT PLC: Unaudited result for the first quarter ended 31st December 2010 shows Turnover of N1,657million, as against N3,157million in the comparable period of 2009. Loss after tax stood at N185million compared with N13million in 2009. The Net Asset Value stood at N3,777 million compared with N3,962 million in September 2010.

IHS PLC: Audited result for the year ended 30th April 2010 shows turnover of N17,247.9 million, as against N11,340.39 million in the comparable period of 2009. Profit after tax stood at N553.71 million compared with N1,047.72 million in 2009. The Net Asset Value stood at N10,578.45 million compared with N9,492.53 million in April 2009.

AVON CROWN CAPS PLC: Unaudited result for the third quarter ended 31st December 2010 shows Turnover of N8,836.87 million as against N8,845.65 million in the comparable period of 2009. Profit after tax stood at N91.76 million compared with N82.67 million in 2009. The Net Asset Value stood at N1,961.21 million compared with N1,869.46 million in March 2010.

POLY PRODUCTS NIGERIA PLC: Audited result for the year ended 31st  March 2010 shows Turnover of N2,415.95 million, as against N2,096.25 million in the comparable period of 2009. Profit after tax stood at N60.67 million compared with N58.3 million in 2009. The Net Asset Value stood at N350.33 million compared with N308.86 million in March 2009. The date of closure of register of members is 16th March 2011. The Annual General Meeting is scheduled to hold at Ilupeju Recreational Hall, Ilupeju Industrial Avenue Ilupeju, Lagos on Wednesday, 30th
March, 2011.

NESTLE NIGERIA PLC: Audited result for the year ended 31st December 2010 shows turnover of N82,726.23 million, as against N68,317.3 million in the comparable period of 2009. Profit after tax stood at N12,602.11 million compared with N9,783.58 million in 2009. The Net Asset value stood at N14,865.35 million compared with N10,543.93 million in December 2009. The Board of Directors is recommending a dividend of N10.60 per share and bonus of 1 for 5. The date of closure of register of members is April 18, 2011 while payment date is April 27, 2011 The Annual General Meeting is scheduled to hold at MUSON Center Onikan, Lagos.

COMPANY FORECASTS STARCOMMS PLC: The company forecasts turnover of N9,698 million and loss after tax of N2,027 million during the first quarter ending March 31, 2011.

ROYAL EXCHANGE PLC: The company forecasts Gross Premium of N1,075.33 million and profit after tax of N130.88 million during the first quarter ending March 31, 2011.

INTERCONTINENTAL WAPIC INSURANCE PLC: The Company forecasts Gross Premium of N1,660.64 million and profit after tax of N187.85 million during the first quarter ending March 31, 2011.

ETERNAL OIL & GAS PLC: The company forecasts Turnover of N4,088.24 million and Profit after tax of N211 million during the first quarter ending March 31, 2011.

BERGER PAINTS NIGERIA PLC: The company notified the Exchange of the appointment of Mr. Tor Nygard as its Executive Director, effective 2011.

GUARANTY TRUST ASSURANCE PLC: The company notified the Exchange of its Board meeting scheduled to hold on Tuesday, February 22, 2011 to consider its audited financial statements for the year ended December 31, 2010. Issues relating to payment of dividend may be discussed at the meeting.

GLAXOSMITHKLINE CONSUMER NIGERIA PLC: Board Meeting – The company notified the Exchange of its Board Meeting scheduled to hold on Monday, February 28, 2011 to consider and approve its 2010. Audited financial statements, fix the date and venue of its Annual General Meeting and also consider the amount to be recommended to members as dividend.

IHS NIGERIA PLC: Equity Investment with IFC – The Company notified The Exchange that it has concluded agreement with Investec Asset Management (via its African private equity funds) the International Finance Corporation (IFC) a member of the World Bank Group, and the Netherlands Finance Development Company (FMO) for US$79 million equity investment in I H S.

The investment which is subject to regulatory approvals will help the company build and acquire mobile phone towers in sub-Saharan Africa, thereby increasing mobile phone coverage and reducing communication cost in the region. The Company intends to add the IFC, FMO and Investec Asset Management’s private equity fund to its shareholders’ base.

The additional financing package also includes up to $115 million of IFC led senior debt, Mezzanine and syndicated loans, which will allow the company to continue providing managed and co-location services to mobile operators and users in Africa.

PINNACLE POINT GROUP PLC: The company notified the Exchange that further to the cautionary announcement of December 24, 2010 vide Market Bulletin of January 7, 2011 No. 006. Shareholders are advised that the negotiations referred to therein are still in progress. Accordingly shareholders are to exercise caution until further announcement is made.

PINNACLE POINT GROUP PLC: Results of General Meeting – The Company wishes to advice its shareholders that, at its General Meeting held on Friday January 28, 2011 at the registered office of the company, Acray House 11, Number 3, Anerley Road, Parktown, Johannesburg, the resolution presented in the notice of the General Meeting was passed by the requisite majority of the shareholders.