Business

Equity markets close week on positive note

Published

8 years ago

June 30, 2018

The NSE All-Share Index and Market Capitalisation appreciated by 1.10% to close the week at 38,278.55 basis points. Year to date, the index remains positive at 0.09%.

National Daily gathered that 32 equities appreciated in price during the week, while 39 equities depreciated in price, and 98 equities remained unchanged.

Unity Bank led the gainers chart this week, appreciating by 10.23%. Honeywell Flour Mills gained 9.57%. Law Union and Rock Plc rounds up the top 3 gainers this week with a 9.30% gain.

On the flip side, Japaul Oil and Maritime Plc shed 23.40% this week. Prestige Assurance was next on the losers chart, down 16.67%. Equity Assurance Plc had the third largest loss this week, as it dropped by 8.70%.

Honeywell Flour Mills released its audited financial statements for the full year ended March, 2018, late Friday.

Revenue increased from N53.2 billion in 2017 to N71.4 billion in 2018. However, profit before tax dipped from N5.4 billion in 2017 to N4.8 billion in 2018. Profit after tax rose slightly from N4.3 billion in 2017 to N4.4 billion in 2018.

The company also declared a dividend of 6 kobo per share, same as the prior year.

University Press Plc released its unaudited results for the first quarter of 2018. Revenue increased from N1.6 billion in 2017 to N1.8 billion in 2018. Profit before tax jumped massively from N164 million in 2017 to N354 million in 2018.

Profit after tax surged from N118 million in 2017 to N207 million in 2018.

Redstar Express, released its financial statements for the full year ended March 2018. Revenue increased from N7.2 billion in 2016 to N8.4 billion in 2017. Profit before tax dropped from N653 million in 2016 to N610 million in 2017.

Profit after tax fell from N426 million to N347 million in 2017. The company has declared a dividend of N0.40 per share.