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Top 10 performing stocks


Among the top 10 performing stocks in the previous week were Academy Press, Paints & Coating Manufacturers Nigeria, PCNM, Neimeth International Pharmaceuticals, Berger Paints Plc, Vitafoam Nigeria Plc, and IPWA Plc. Others are Cutix Plc, Forte Oil, Evans Medical, and Champion Breweries Plc.

Printing/Publishing listed company, Academy Press, added 40 percent or N0.70 to its share price to top the gainers in the week. It started the week at N1.75 and closed at N2.45 per share. Academy Press, involved in security printing, had in 2012 announced that it would take advantage of ban on importation of security and sensitive print materials by the Central Bank of Nigeria to upgrade its facilities to full blown security printing outfit.

Unlike other stocks that have been experiencing huge investors’ patronage, Academy Press has not enjoyed as much support from investors just like others in the same sector. So far, the stock price has risen by paltry 56.05 percent, from N1.57 at the beginning of the year to the present market price. It had risen to N4.10 before falling back to N2.45 at the close of transactions on Friday. The company paid 7.5 kobo as dividend in 2012.

PCNM listed in the building materials sector recorded 32.14 percent or N0.45 increase from N1.40 at the beginning of the week to N1.85 to emerge the second highest gainer in the week. PCNM, which manufactures paints and coatings, recently said that it was awarded the sole manufacturing rights for the manufacture of protective coatings by International Paints in Nigeria.

So far, the stock price has risen by 270 percent from N0.50 at the beginning of  the year to the present market price. It had also risen to N2.41 before relapsing to N1.85. A total of 773,100 shares of the company were traded last Friday, while its dividend was 8 kobo. The company posted N2.91 billion turnover in 2012, as against N1.79 billion recorded in 2011, while its profit before tax rose to N275.03 million from the previous N122.97 million in 2011.

The third highest gainer, Neimeth, has over the last few months been featuring on the top ten gainers list. Last week, it rose by 32 percent or N0.40 from N1.25 to N1.65 per share. Listed in the pharmaceutical sector, Neimeth is involved in the manufacturing and sales of pharmaceuticals, chemicals and animal health products. Already, the share price has risen by 217.31 percent year to date from N0.52 at the beginning of the year to N1.85 at the close of the 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 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 profit dipped from N241.14 million in 2011 to N48.18 million in 2012.

Berger Paints gained 20.30 percent or N1.92 price increase from N9.46 at the beginning of the week to N11.38 per share. Berger Paints will soon embark on rights issue to raise N850 million having received approval from the shareholders. The share price has risen by 66.86 percent year to date from N6.82 at the beginning of the year to N11.38. it had risen to N12.20 before relapsing to the present market price.

Berger Paints Nigeria Plc engages in the manufacture of decorative and industrial paints, marine and protective coatings, automotive /vehicle refinishes and allied products.

Vitafoam’s share price rose by 16.53 percent or N0.61 per share from N3.69 to N4.30 on Friday. Year-to-date, the share price has risen by 47.77 percent from N2.91 to N4.30, after rising to N5.54 earlier in the year.

Other gainers include IPWA, which gained 13.33 percent or N0.08 price appreciation to close at N0.68 from N0.60. Cutix recorded 12.50 or N0.25 price gain to close at N2.25 from N2.00 at the beginning of the week. Forte Oil rose by 10.45 percent or N1.61 from N15.40 to N17.01, while Evans Medicals and Champion Breweries gained 10.03 or N0.31 and 9.92 percent or N0.48 from N3.40 to N3.09 and N4.84 to N5.32 per share respectively.


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