By NKIRUKA NNOROM
On the top 10 performing stocks last week were shares of P.Z Cusson Plc, Livestock Feeds Plc, Flour Mills of Nigeria Plc, Costain (West Africa) Plc, Dangote Sugar Refinery Plc (DSR) and May & Baker Plc.
The rest were United Bank for Africa Plc, Diamond Bank Plc, Okomu Oil Palm Company Plc and UBA Capital Plc.
PZ Cusson, a household name in personal care, beauty and home care products, led the pack with 28.38 percent or N6.30 increase, closing at N28.50 from N22.20 it started the week at. PZ Cusson, reputed for rewarding investors/shareholders handsomely for their investments in the company paid out approximately N2. 11kobo as dividends this year.
The company has been paying dividend just once a year, but this year, it added another streak to it by recommending an interim dividend, which was followed by a special dividend. Specifically, the company paid out N0.1992kobo as interim dividend and promptly followed it up with another N1.30 special dividend and later crowned the 2013/2014 financial year with declaration of 61 kobo dividends.
As part of efforts to remain a market leader, and continue to improve stakeholders’ value, the company last month unveiled an innovative Morning Fresh Antibacterial variant into the Nigerian market. According to the Marketing Director, Family Care, Ms Sandy Griffiths, the new addition was as a result of the company’s commitment to responding to customers’ needs with innovative and exciting products.
Its available six months financial statement showed that it posted a growth of 4.7 percent in revenue for the half year ended November 30, 2013, rising from N31 billion in 2012 to N32.46 billion in 2013. Profit before tax rose by 53 percent to N3.1 billon from N2 billion, while profit after tax went up by the same margin, rising from N1.515 billion to N2.317 billion.
PZ has equally not done badly in delivering value to shareholders in terms of capital appreciation as it has delivered 147.4 percent and 71.8 percent 52 week and year-to-date returns respectively.
Livestock Feeds Plc followed with 22.50 percent or N0.45 price appreciation to close at N2.45 from N2.00 per share.
The company became a subsidiary of UAC of Nigeria Plc in 2013 through the acquisition of 51 percent equity stake in the company by later. Listed on the Livestock/Animal Specialties sub-sector of the Nigerian Stock Exchange, NSE, Livestock Feeds engages in manufacturing and marketing of animal feeds and concentrates in Nigeria.
Its half year financial statement for the period ended June 30, 2014, showed a growth of 24 percent in revenue to N3.36 billion as against N2.70 billion recorded in the same period in 2013. Its profit before tax rose by 32 percent, rising to N125.61 million from N95.21 million in the previous year.
The post tax profit also rose by the same margin, rising to N85.41 million from N64.75 million achieved in equivalent period in 2013. The 52 week return on investment stands at 151. 3 percent as the share price had previously risen to N4.90 from N1.95 per share.
Flour Mills Nig. Plc was the next with 21. 20 percent or N8.80 increase, as the share price rose to N50.31 from N41.51 at the beginning of the week. Just last month, the company divested its 30 percent stake in United Cement Company of Nigeria Ltd (UNICEM) formerly Calabar Cement, selling the shareholding to Lafarge Africa.
“FMN’s exit from the cement sector, solidifies our group strategy of divesting non-core, non-operating assets and focusing resources for the expansion and growth of our principal branded consumer and wholesale food and integrated agro-allied operating businesses, where we are the market leader,” the company had said in a statement.
For the year ended March 31, 2014, FNM achieved 8.9 percent growth in turnover to N245.701 billion from N225.629 billion recorded in the same period in 2013. The profit before tax grew to N12.46 billion compare to N11.63 billion in the year ended March, 2013, representing 7.1 per cent increase.
In the same vein, the company posted 17.3 percent increase in post tax profit, as the figure rose to N10.44 billion from N8.90 billion in the previous year. Consequently a 21 kobo and one for 10 bonus were declared for the year.
Costain recorded 20.24 percent or N0.17 price appreciation, closing at N1.01 from N0.84; DSR’s shares went up by 19.76 percent or N1.15 to close at N6.97 from N5.82 per share; May & Baker advanced by 18.88 per cent or N0.27 to close at N.70 from N1.43; UBA added 17.39 percent or N0.76 to close at N5.13 from N4.37; Diamond Bank followed with 12.73 percent or N0.70 gains to close at N6.20 from N5.50; Okomu Oil advanced by 11.94 percent or N3.20 to close at N30.00 from N26.80, while UBA Capital appreciated by 11.80 per cent or N0.19 to close at N.80 from N1.61 per share.