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INVESTORS SPEAK: Top 10 performing stocks

BY NKIRUKA NNOROM

On the top 10 stocks last week are McNichols Consolidated Plc, Neimeth International Pharmaceuticals Plc, Union Bank, Ikeja Hotels plc, Livestock Feeds, and IPWA.

Others that garnered enough patronage to make it to the top ten performing list include Evans Medicals, UTC Nigeria Plc, Jos International Breweries and Champion Breweries.

McNichols plc, recorded 31.40 percent price appreciation or N0.54 gains to emerge the highest price gainer during the week. It started the week at N1.72 and closed at N2.26 per share.

Listed in the food product sector of the Nigerian Stock Exchange, NSE, under the Alternative Securities Market, AseM, McNichols manufactures, packages and distributes vitamin A fortified sugar,chocolate powder, powdered milk, cereals and other food products.

Of the 11 companies quoted in the emerging market segment of the NSE, McNichols is one of the four stocks which share prices trade above two digit level, while the rest still lurk around the nominal price (50 kobo)s. Starting the year at 72 kobo, McNichols, has therefore achieved 213.89 percent return on investment when compared with the current market price. At the end of transaction on Friday, investors bought 160,100 shares of the company. Determined to keep up the pace of returns to shareholders, the company said it plans to increase its installed capacity by 300 percent during the year. Avaliable financial statement from the company showed that it posted a turnover of N389 million for the year ended December 31, 2009, as against N388 million in 2011, while profit after tax stood at N9.2 million, up from N6.01 million in 2011.

Neimeth added 25percent or N0.20 to its share price from N0.80 at the beginning of the week to N1.00 to emerge second on the list of top ten gainers. Listed in pharmaceutical sector, Neimeth is involved in the manufacturing and sales of pharmaceuticals, chemicals and animal health products. Already, the share price has risen by 72.4 percent y-t-d from N0.52 at the beginning of the year to N1.00 at the close of  transactions on Friday. The company’s financial position both in top and bottom line has not been encouraging in recent time. The company recorded a loss after tax of N69.3 million for the year ended 30th September, 2012 compared with a profit t of N113.1 million in the previous year. Though there was a 22.74 percent growth in turnover for the period from N1.89 billion in 2011 to N2.33 billion in 2012, operating profi t dipped from N241.14 million in 2011 to N48.18 million in 2012.

The third highest price gainers, Union Bank, rose by 22.49 percent or N2.08 to close at N11.33 from N9.25. Union Bank, one of the eight banks rescued by the central bank in 2010, managed to escape bridged bank status and was later recapitalised on stand-alone basis, though under very controversial circumstances. As at date, the share price has risen by 384.19 percent from N2.34 at the beginning of the year to N11.33 at the close of business on Friday. The 2012 financial statement for the year ended 31st December, 2012 showed that gross earning rose by 35 percent to N96.5 billion, while profit before tax for the period stood at N8.1 billion, up from a loss of N102.6 billion the previous year. Also, the earning per share improved, rising to 46 kobo in 2012 compared to negative N12.51 kobo in 2011.

Ikeja Hotel Plc garnered 21.13 percent or N0.15 capitalgain to emerge the fourth on the list. It started the week at N0.71 and closed at N0.86 per share. Ikeja Hotel has enjoyed some level of patronage in the year, as it opened the year at N0.62 and had risen to N1.72 before declining to the present price. Investors have, therefore gained 32.25 percent from their investment in the company. The share price has been on continuous decline since it hit N1.72 sometime this year.

Livestock Feeds Plc appreciated by 20.54 percent or N0.68 from N3.31 to N3.99 to emerge the fifth in the list. Livestock is the only company quoted on the livestock/animal specialties sector of the NSE, and it has enjoyed as much price rally as other blue chip stocks within the year. Starting the year at N0.68, the share price has rallied 486.76 percent increase compared with the closing price on Friday. The company recorded an improved turnover of N5.43 billion in 2012, a 50 percent increase over N3.62 billion reported in the previous year. Its profit after tax was N139.1million; earnings per share improved by 42 percent at 11.59 kobo compared with 8.16 kobo in 2011.

Others are IPWA, which gained 20 percent or N0.12 to close at N0.72. Evans Med garnered 19.23 percent or N0.50 to close at N3.10; UTC added 18.06 percent or N0.13 to close at No.85, while Jos International Breweries and Champion Breweries added 15.04 percent or N0.17 and 10 percent or N0.44 capital gains to close at N1.30 and N4.84 respectively.

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