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The SWOOT gain 1.44% in Market Cap to N13.61 trillion


The combined market capitalization of the stocks worth over one trillion (SWOOT) appreciated by 1.44% to close at N13.61 trillion from N13.42 trillion the previous week. Stocks included in this classification are AIRTELAFRICA, BUA CEMENT, DANGOTE CEMENT, NESTLE and MTNN Plc.

Out of the 5 stocks, Airtel Africa Plc appreciated by 5.7% during the week to close at N650.00 from N615.00 per share, while MTNN appreciated by 1.8% to close at N168.00 from N165.00 per share.

Airtel and MTNN Plc fall under the NGX Communications sub-sector, where they make up 42% and 58% of the index respectively. Consequently, their impact led the sector to appreciate by 3.40%.

  • Airtel Nig Plc – N650.00

Airtel Nigeria Plc started the trading week with a market capitalization of N2.31 trillion at N615.00 per share, to close at N650.00 per share with a market cap of N2.44 trillion gaining a total of N131.54 billion at the end of the week.

The communications company, a major competitor of MTN Nig Plc and Chams Plc, contributed to increase the sectoral market cap by 3.40%.

The company’s Q2 2021 unaudited results for the period ended June 30th, 2021 shows a profit before tax of 133% to $259 million while profit after tax went up by 149% to $142 million. Airtel Africa Plc announced a net profit of $142 million in the Q1 period of 2021.

MTNN Plc’s share price ended the week at N168.00 from N165.00 at the beginning of the week. The communications company, a competitor to Airtel Nig Plc, has a total market capitalization of N3.42 trillion from N3.36 trillion the previous week and N977 billion higher than Airtel Nig’s current market value.

The company is the second-highest in market value on the Nigerian Exchange Limited (NGX), right after Dangote Cement Plc.

MTNN Plc has released its Q2 2021 financial result, reflecting a 24.01% growth in revenue for the period, while profit after tax grew by 49.48% from N94.88 billion in Q2 2020 to N141.83 billion in the current period. The company has approved an interim dividend of N4.55kobo to existing shareholders, to be paid on the 27th of August, 2021.

Other companies under the SWOOT classification remained unchanged in share prices and their performances are summarized below:

  • BUA Cement Plc – N68.00

BUA Cement Plc remained unchanged with a market capitalization of N2.30 trillion at N68 per share.

The cement producer, a competitor of Dangote Cement and Lafarge Africa Plc, recently announced plans to increase its capacity for production to meet rising demands. The Chairman of the company, Rabiu Abdulsamad, called for new market participants to take position in the industry to further meet demands within and outside the country.

The company released its financial report for Q2 2021, reporting revenue of N63.09 billion, reflecting a growth of 33.41% from N47.29 billion in 2020.

Similarly, net income increased by N6.16 billion, reflecting a 41.43% increase from N14.87 billion recorded in the corresponding period of 2020 to N21.03 billion in the current period.

  • Dangote Cement Plc – N248.10

Dangote Cement Plc’s share price remained flat week-on-week to close at N248.10. The company, which is a competitor to BUA Cement Plc and Wapco Plc has a total Market capitalization of N4.23 trillion.

Dangote Cement recently announced the commissioning of the new Dangote Cement $1 billion six million Metric Tonnes Per Annum (MTPA) facility located at Okpella, Edo state as part of efforts by Dangote Cement to boost cement production in the state and across the country.

The Q2 2021 financial result revealed that revenue grew by 57.20% while net income for the period appreciated by 55.48% from N65.55 billion in Q2 2020 to N101.92 billion in the current period.

  • Nestle Nig Plc – N1,540.00

Nestle Nigeria Plc’s share price also remained unchanged at the end of the week, to close at N1,540.00. The Fast-Moving Consumer Goods company currently has a market capitalization of N1.22 trillion. Nestle Nigeria Plc is the only company under the NGX Consumer Goods Index to be worth over a trillion.

In July, the Board of Nestle Nigeria Plc approved a final dividend payment of N28.14 billion representing N35.50 per share to be paid to existing shareholders for the 2020 financial year.

The Q2 2021 financial result revealed a 19.07% growth in revenue from N70.7 billion recorded in Q2 2020 to N84.18 billion.

The consumer goods company, reported a profit after tax of N9.33 billion, reflecting a decline of 12.23% from N10.63 billion in the corresponding quarter of 2020.


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