On the top 10 performing stocks last week were the shares of R.T Briscoe Plc, Dangote Flour Mills Plc, UACN Property Development Plc, Ikeja Hotels Plc, Champion Breweries Plc and National Salt Company of Nigeria (NASCON) Plc.

Others were Access Bank Plc, N.E.M Insurance, Seplat Petroleum Development Co. Plc and Diamond Bank Plc.

R.T Briscoe, which recently has become investors toast, rose by 34.43 percent or N0.21 to close at N0.82 from N0.61 it started the week at. Last year, the company secured shareholders approval to raise additional N10 billion to support its operations. The shareholders also authorized an increase in the company’s share capital from N2 billion divided into 4.0 billion ordinary shares of 50 kobo each to N3.25 billion divided 6.5 billion ordinary shares of 50 kobo each. For the past two years, the company has been suffering from losses arising from high interest expenses. For instance, the 2013 audited financial statements and accounts showed that the automobile and Real Estate Company posted loss before tax of N151.60 million, thereby consolidating the loss streak in 2012.

The company had in 2012 recorded loss after tax of N228.50 million. However, with tax gains of N59.59 million in 2013, net loss after tax dropped from N280.72 million in 2012 to N92.02 million in 2013. The turnover also dropped from N21.98 billion in 2012 to N21.77 billion in 2013, while the gross profit slipped from N2.68 billion in 2012 to N2.56 billion. Similarly, the operating profit dropped from N941.78 million in 2012 to N801.81 million. However, the company’s finance expenses rose from N1.26 billion in 2012 to N1.47 billion in 2013.

The depressed bottom-line also impacted on shareholders’ funds, which slipped from N3.13 billion in 2012 to N3.05 billion in 2012. Also, as a result of the negative performance, value creation for shareholders has taken a downturn, which warranted a reduction of about 25 kobo in the underlying value of dividend paid in 2012 in contrast with dividend per share of 10 kobo received in 2011 and 2010 respectively. The company did not pay any dividend in 2013 financial year, due to the negative bottom-line.

Dangote Flour Mills followed closely behind with 33.33 percent or N1.00 price appreciation to close at N4.00 from N3.00. Analysis by a London based firm, Baker & McKenzie had through its analysts led by Chris Hogan said in a Jan. 29 in a interview that Dangote Flour mills is the second worst performing stocks on the Nigerian stock Exchange, NSE, this year, having declined by 34 percent just behind Diamond Bank Plc, which has retreated by 37 percent.

The company released its three months financial result to March, 2015 with the revenue rising by 28 percent to N10.67 billion as against N8.34 billion posted in the previous year. However, it recorded loss after of N2.92 billion, 18.51 percent increase over N2.81 billion loss recorded in the previous year in continuation of its losing streak.

ARM Research, an equity research firm, said in an analyst note that the 28 percent growth in revenue, which was seven percent higher than its forecast, marked the second consecutive quarterly rise in revenues, adding that the company linked the sustained improvement to volumes, which given the subdued pricing environment and declines in receivable days outstanding (-28% YoY to 67days) points to increasing geographical diversification of revenues away from the North.

UACN Property was the next with 30.78 percent or N2.81 increase, closing at N11.94 from N9.13. UPDC Real Estate Investment Trust (UPDC REIT), recently announced the payment of N1.4 billion interim dividend to the unit holders for the period ended June 30, 2014. The dividend, which translates to 56kobo per unit, will be paid to holders whose names appear on the register of the UPDC REIT on November 20, 2014.