The Nigerian Exchange Limited (NGX) ended the month of October 2021 on a positive note amidst buy-interests and sell-pressures as the bulls dominated proceedings to suppress sell-pressures in the market.
According to data from the Exchange, the ASI (All Share Index) appreciated by 4.52% to close the month of October at 42,038.60 points from 40,221.17 points at the end of September and the Market Cap increased by N982.97 billion during the month.
Month-on-month, University Press Plc led 56 gainers surpassing 29 losers led by Regency Assurance Plc, taking the market breadth to 1.93x and reflecting a bullish market. Consumer Goods Performance
In the same vein, the Consumer Goods Index (CGI) appreciated by 0.41% during the period under review, from 567.17 points to 569.51 points. Focusing on the performance of stocks under the Consumer goods sector, we see that out of the 18 companies under the CGI, seven (7) increased in share price while seven (7) declined and 4 remained unchanged.
In our usual style, Nairametrics, in this article, will focus on the five best-performing consumer goods stocks in the month under review. These stocks were selected based on their price-performance month-to-date and are represented by the percentage gained. Presco Plc – 10.90%
The share price of Presco Plc, an industry peer with Okomu Oil, enjoyed the positive sentiment around the market as it increased by 10.90% from N80.25 per share to N89.00 per share at the end of October 2021.
Presco Plc’s third quarter result showed that top and bottom-line income performed impressively as revenue grew significantly by 133.77% from N5.46 billion to N12.77 billion. In the same vein, profit after tax surged by 469.76% from N640.37 million in Q3 2020 to N3.65 billion in the current period.
In addition, the company’s share price has grown by 25.44% from year-to-date and currently trades at N89.00 per share.
___________________________________________________________________________________________________________________________________________________ Cadbury Nig. Plc – 18.13%
Cadbury Nig. Plc share price grew from N8.00 per share to N9.45 per share at the end of October, reflecting a percentage growth of 18.13%. The growth in the price of the company’s shares can be attributed to positive sentiment towards the company in anticipation of positive results.
The company’s Q3 result for the period ended September 2021 filed with the exchange revealed that revenue for the period appreciated by 16.66% from N9.88 billion in Q3 2020 to N11.52 billion in the current period. Also, gross profit grew by 74.74% […]
