By NKIRUKA NNOROM

Investors’ preference for mid and small cap stocks saw nine of such companies emerging on the top ten performing table last week. Apart from PZ Cussons, that featured in the eight position, the rest were low priced stocks.

These include Jos International Breweries, JIB, Vono Products Plc, DN Meyer Plc, Paints and Coating Manufacturers Plc, IHS Plc and Wapic Insurance Plc.

Others are Cutix Plc, Vitafoam Nigeria Plc and Learn Africa Plc.

Jos Int Breweries again led the pack of other gainers in the week, rising by 60.07 percent or N1.76 to close at N4.69 from N2.93 per share. JIB has consistently led the gainers for the past one month. It rose by 60.11 percent or N1.10 penultimate week. Though the company has not furnished the investing public with any financial information in the last four years following inactivity since 2009, possibility is that it is about to make a big come back after Plateau State government liquidated the debt it owed a local bank.

It was indebted to a local bank to the tune of N700 million. According to the company, the settlement of the debt was the first step to its revival. Available financial statement for the year ended 2009 showed 61.07 percent decline in revenue from N524 million to N204 million. It recorded loss before tax of N431million and loss after tax of N432 million, while working capital was in negative position of N1.3 billion as at the time. So far, the stock price has risen by 485 percent from year low of N0.81 to the present market price.

Vono Products again clinched the second position just like in the previous week. The stock price rose by 43.30 percent or N0.42 from N0.97 at the beginning of the week to N1.39. It had risen to N2.88 before sliding to the present market price. The company is presently listed among stocks performing below the NSE’s post-listing rules requirement for its failure to render its six months financial statement for March, 2013.

Vitafoam Plc had in 2010 acquired 21.44 percent equity stake in the company through purchase of 64.32 million ordinary shares out of the 300 million total outstanding shares of Vono Nigeria. The acquisition was a long-term strategic investment meant to decide the future of the ailing Vono Nigeria. The nine months financial statement for the period ended September, 2012 showed that revenue stood at N525.88 million, while it recorded loss after tax of N4.80 million within the period. Though it has recorded 43.3 percent price appreciation year-to-date, it still remains the least priced stock in the household durable sub-sector of the Nigerian Stock Exchange, NSE, Nigerian Enamelware being the highest.

DN Meyer, an industrial good listed company, trailed behind with 31.47 percent or N0.45 price appreciation from N1.43 to N1.88 per share. Though the company has been in the woods since the last three years, posting losses consistently, the most recent financial statement for the half year ended 30th June, 2013, indicated that it has started breathing fresh air.

Breakdown showed that it has risen to profit position of N83.45 million from loss position of N2.52 million in the same period of 2012. Revenue increased marginally to N396.69 million from N323.031 million, while gross profit also moved up slightly to N139.74 million from the previous N136.58 million. DN Meyer is a manufacturer of paints, tiles, adhesives, carpet tiles and allied products.

Paints and Coating Manufacturers plc, another industrial good listed equity, advanced by 25.29 percent or N0.43 from N1.70 to N2.13 per share at the end of the week. The half year result for the period ended June, 2013, showed that revenue stood at N1.61 billion as against N1.25 billion in the preceding year. Profit after tax increased to N140.07 million as against N130.06 million in the same period of 2012.

IHS Plc advanced by 19.15 percent or N0.45 to close at N2.80 from N2.35; Wapic Insurance went up by 14.53 percent or N0.12 to close at N0.94 from N0.82; Cutix gained 13.10 percent or N0.22 to close at N1.90 from N1.68; PZ Cussons added 11.90 percent or N4.50 from N37.80 to N42.30; Vitafoam advanced by 10.53 percent from N3.99 to N4.41, while Learn Africa’s share price appreciated by 10 percent or N0.15 from N1.50 to N1.65 percent.