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The SWOOT gain 2.56% in market cap to N13.96 trillion


The combined market capitalization of the stocks worth over one trillion (SWOOT) appreciated by 2.56% to close at N13.96 trillion from N13.61 trillion the previous week. Stocks included in this classification are AIRTELAFRICA, BUA CEMENT, DANGOTE CEMENT, NESTLE and MTNN Plc.

Airtel Africa Plc appreciated by 15.40% during the week to close at N750.00 from N650.00 per share, while MTNN appreciated by 2.4% to close at N172.10 per share from N165.00.

However, Dangote Cement Plc depreciated by 2.6% during the week to close at N241.60 from N248.1 per share.

The NGX Communications sub-sector, to which Airtel and MTNN Plc belong, felt the impact of both stocks. The sector appreciated as well by 7.83%.

Airtel Nig Plc – N750.00 per share

Airtel Nigeria Plc started the trading week with a market capitalization of N2.44 trillion at N650.00 per share, to close at N750.00 per share with a market cap of N2.82 trillion gaining a total of N375.82 billion at the end of the week.

The telco, a major competitor to MTN Nig Plc and Chams Plc, contributed 81.83% to increase the sectoral market cap.

The company’s Q2 2021 unaudited results for the period ended June 30th, 2021 showed a profit before tax of 133 per cent to $259 million while profit after tax went up by 149 per cent to $142 million.

MTNN Plc – N172.10 per share

MTNN Plc’ share price ended the week at N172.10 from N165.00 at the beginning of the week. The telco has a total market capitalization of N3.50 trillion from N3.42 trillion the previous week; N680 billion higher than Airtel Nigeria’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.

Dangote Cement Plc – N241.60 per share

Dangote Cement Plc’s share price declined week-on-week to close at N241.60 from N248.10 per share in the previous week. The company, which is a competitor with BUA Cement Plc and Wapco Plc has a total market capitalization of N4.12 trillion.

During the week, the FMDQ Exchange admitted Dangote Cement Plc Series 1 Bond on its platform. The exchange approved the listing of the Dangote Cement Plc ₦3.64 billion Series 1 (Tranche A), ₦10.45 billion Series 1 (Tranche B) and ₦35.91 billion Series 1 (Tranche C) Fixed Rate Bonds under its ₦300.00 billion Multi-Instrument Issuance Program on its platform.

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.

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

BUA Cement Plc – N68.00 per share

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.

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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