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Top 10 performing stocks

By NKIRUKA NNOROM

Courteville Business Solution Plc, CBS,Beta Glass Plc, Academy Press, NPF Micro-Finance Bank Plc, Multi-Trex Integrated Foods Plc and Northern Nigeria Flourmills Plc, were among the stocks that pooled enough investors’ patronage last week to make it to the list of the top 10 performing stocks.

The rest are Champion Breweries Plc, Cutix Plc, OkomuOil Plc and United Bank for Africa Plc, UBA.

A computer-based system listed security, Courteville Business Solution, for the second week running has led the list of the top 10 gainers on the Nigerian Stock Exchange, NSE. The company’s shares went up by 30.88 percent or N0.21 to close at N0.89 from N0.68 it started the week with. Though there has been commendable activity on this stock in the last three months since the Managing Director, Bola Akindele, made strong case that the share was under-priced, it has been difficult for it to break into two digit region.

The highest it has climbed to this year was N0.96 and for the stock, it has been a continuous circle of upward and downward movement. Only recently, the company said it has extended its AutoReg services to the Kogi State government with the plan of including other states of the federation to the platform. It was also among the 13 companies recently commended by the NSE for compliance to good corporate governance by filing their 2011 year end results well ahead of stipulated submission date.

Available financial statement of the company for the first quarter ended 31st March, 2013, showed that its turnover rose by 33.78 percent from N233.97million in the first quarter of 2012 to N313.01million. Shareholders’ fund rose marginally by 3.08 percent from N2.82billion in the first quarter of 2012 to N2.90billion in the corresponding period of 2013, while retained profit grew by 63.21 percent to N86.84million in 2013, from N53.21million in 2012.

Beta Glass, listed on the packaging/container sub-sector advanced by 20.92 percent or N2.28 to emerge second during the week. It started the week at N10.90 and closed at N13.18 per share. Beta Glass is involved in the manufacturing, sale and distribution of hollow Glassware in Nigeria. The revenue rose by two percent to N12.93 billion from N12.73 billion for the year ended 31st December, 2012. Profit after tax dropped by 25 percent from N1.77 billion in 2011 to N1.33 billion in 2012. To-date, the share price has risen by 45.8 percent from year low of N9.04 to the present market price.

Academy Press’ share price went up by 20.37 percent or N0.33 to close at N1.95 from N1.62 per share. Of the four companies listed in the printing/publishing sub-sector of the NSE, Academy Press ranks second in terms of pricing after University Press Plc. It had last year announced plans to veer into security printing. Available financial statement of the company for the third quarter ended 31st December, 2013, showed that revenue was up by 1.3 percent to N1.54 billion as against N1.52 billion in 2011.

There was slight improvement in cost management as the cost of sales reduced to N799.93 million from N900.07 million in the previous year, indicating 11.1 percent improvement over the previous figure. Profit before taxation declined by 41 percent to N29.94 million from N50.79 million impacted by high administrative expenses, distribution expenses and high finance cost. Consequently, the profit after tax dropped by 42.6 percent from N35.55 million in 2011 to N20.42 million. Already, the share price has risen by 24.2 percent from N1.57 at the beginning of the year to the present market price.

NPF Micro-Finance Bank advanced by 17.07 percent or N0.14 to close at N0.96 from N0.82 per share. It was the first micro-finance bank to be listed on the Nigerian Stock Exchange. The second quarter financials for the period ended 30th June, 2013 showed that gross earnings increased by 16 percent to N842 million from N726 million in 2012.

Profit before tax declined by 14.15 percent to N253 million from N295 million, while profit after tax also slumped by 35.62 percent from N295 million in 2012 to N190 million in the review period. There has not been much capital appreciation on share price as it has just risen by 2.5 percent from N0.80 to the present market price. It had gone up to N1.22 per share before sliding.

Multi-Trex and NNFM share prices appreciated by 10 percent apiece from N0.50 to N0.55 and N27.00 to N29.70 per share respectively. Champion Breweries went up by 9.99 percent or N1.33 from N13.31 to N14.64; Cutix’s share price increased by 9.95 percent or N0.20 from N2.01 to N2.21 per share, while Okomu Oil and UBA advanced by 7.87 percent and 7.80 percent from N44.50 and N7.82 to N48.00 and N8.43 per share respectively.


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