Business Top 10 performing stocks

jeff juwana

Moderator
On the top ten performing stocks last week were Jos International Breweries Plc, JIB, Vono Products Plc, Thomas Wyatt Nig. Plc, Ikeja Hotels Plc, John Holt Plc and Academy Press. Others are Nigeria Aviation handling Company, NAHCo, Flour Mills Nig. Plc, Paints and Coating Manufacturers Plc and Aiico Insurance Plc.


Despite being the top gainer for the second week in a row, the NSE charged Jos International Breweries for non-rendition of its 2010, 2011 and 2012 audited financial statements. The company, currently undergoing a reconstruction of its activities in order to regularize its post-listing status on the NSE, recently settled a debt of N700 million which it owed local banks.


Vono Products, another top gainer on the list, is also tagged as a company with stocks performing below listing requirements due to its inability to present its six months financial statement for March, 2013.Vitafoam Plc had in 2010 acquired 21.44 percent equity stake in the company through purchase of 64.32 million ordinary shares out of the 300 million total outstanding shares of Vono Nigeria. The acquisition was a long-term strategic investment meant to secure the future of the ailing company. The nine months financial statement for the period ended September, 2012, showed that revenue stood at N525.88 million, while it recorded loss after tax of N4.80 million within the period. The stock price rose by 30.65 percent or N0.19 from N0.62 to N0.81 per share.


Thomas Wyatt, the third top gainer, operates in the printing sector and related support services. The Company, despite its sixty years experience in paper and paper conversion business and the delivery of high quality printing and stationeries supplies, was listed by the NSE as a company performing below listing requirements.


John Holts Plc, which is yet to also submit the six month financial statement and was also, fined N1.7 million last year for late filing of 2011 financial statement, advanced by 8.62 percent or N0.10 from N1.16 to N1.26. The Audited 2012 results showed declining trends with revenues dropping by 53 percent to N2.7billion from N5.9 billion in 2011. Loss before tax was N1.8 billion. However, the company declared exceptional item of N2.4 billion helping it to post a profit after tax of N635 million.

Academy Press advanced by 8.52 percent or N0.15 to N1.26; NAHCO recorded 7.67 or N0.48 capital appreciation from N1.76 to N1.91; Flourmills, 7.67 percent or N0.48 from N78.56 to N83.90; PCMN, 6.47 percent or N0.11 from N1.70 to N1.81, while Aiico Insurance gained 6.38 percent or N0.06 from N0.94 to N1.00.

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