Dangote Cement, MTN, 3 others market capitalization hit N18.92trn

The combined market capitalization Bua Cement, MTN Nigeria, Airtel, Dangote Cement, Bua Foods appreciated by 0.83 per cent to close at N18.92 trillion from N18.76 trillion the previous week, reflecting a profit of N155.78 billion.

Bua Cement’s share price appreciated by 8.85 percent at the end of the trading week while its market cap stood at N1.92 trillion from N1.76 trillion losing a total of N155.78 billion.

MTNN Plc’s share price, at the end of the trading week, appreciated by 0.40 per cent to close at N199.00 per share. Its market capitalization closed at N4.05 trillion at the end of the trading sessions of the week. As a competitor of Airtel Nig Plc, MTN’s total market capitalization is N2.71 trillion lower than Airtel Africa’s current market value.

Airtel Africa Plc’s share price was down by 10 per cent to stand at N1800.00 from N2,000.00 at the end of the trading week. Its market capitalization also fell from N7.52 trillion to a valued N6.76 trillion this week.

Airtel Africa Plc ended the week as the most capitalized company on the exchange once again, leading the SWOOTS strongly, with MTNN, its competitor, the third-most capitalized stock, far behind.

READ ALSO: Host communities protest over exploitation, negligence by Dangote Cement

The telecom giant released its Unaudited Financial Statement for the quarter that ended June 2022 revealing a 13 per cent growth in revenue from $1.11 billion in 2021 to $1.26 billion in the current period.

The profit after tax for the period also appreciated significantly by 25.3 per cent from $142 million in 2020 to $178 million.

Dangote Cement Plc share price was unchanged at N245.00 at the end of the trading week.

The company, which is a competitor of Bua Cement Plc and Wapco Plc, and the most capitalized cement producer on the NGX, has a total Market capitalization of N4.17 trillion as at market close this week.

Dangote Cement Plc is currently the second most-valued company quoted on the exchange and makes up roughly 22 per cent of the total market capitalization of all the stocks worth over one trillion.

The first half result of 2022 financial result revealed a profit of N172.10 billion, representing a 33.83 per cent increase Y-o-Y. Meanwhile, revenue for the period stood at N808.04 billion, a 17.01 per cent increase from the corresponding period of 2021.

BUA Foods Plc share price remained unchanged at the end of the trading week. Its market capitalization also remained at N1.05 trillion.

BUA Food posted a net profit after tax of N39 billion in the first half of 2022, a 13.7 per cent increase from the N34.56 billion in the first half of 2022. Turnover for the period was N168.85 billion from N151.73 the same period last year.