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WEEKLY REPORT
STOCK MARKET REPORT FOR OCTOBER 24, 2014
EQUITIES
A turnover of 1.413 billion shares worth N17.038 billion in 24,427 deals were traded this week by
investors on the floor of The Exchange in contrast to a total of 1.885 billion shares valued at N23.733
billion that exchanged hands last week in 24,705 deals.
The Financial Services Industry (measured by volume) led the activity chart with 1.053 billion shares
valued at N9.498 billion traded in 13,526 deals; thus contributing 74.51% and 55.75% to the total equity
turnover volume and value respectively. The Conglomerates Industry followed with a turnover of
156.680 million shares worth 857.655 million in 1,558 deals. The third place was occupied by Services
Industry with 62.401 million shares worth N196.893 million in 856 deals.
Trading in The Top Three Equities namely- Transnational Corporation of Nigeria Plc, Mansard Insurance
Plc and Guaranty Trust Bank Plc (measured by volume) accounted for 368.622 million shares worth
N3.933 billion in 2,886 deals, contributing 26.09% and 23.08% to the total equity turnover volume and
value respectively.
Equity Turnover- Last 5 days
Date
Deals
Turnover
Volume
Turnover Value (N)
Traded
Stocks
Advanced
Stocks
Declined
Stocks
Unchanged
Stocks
20-Oct-14
5,221
353,801,373
4,151,028,663.23
113
35
19
59
21-Oct-14
6,171
352,909,058
3,282,252,847.73
110
33
15
62
22-Oct-14
4,302
193,242,715
2,663,961,122.62
108
26
19
63
23-Oct-14
4,693
304,380,694
3,102,627,538.90
114
30
18
66
24-Oct-14
4,040
208,635,995
3,838,276,054.48
113
15
30
68
Distribution of Quantity Traded
FINANCIAL SERVICES
4%
CONGLOMERATES
SERVICES
OTHERS
10%
11%
75%
For Further Inquiries Contact: Market Operations Department
Page 1
WEEKLY REPORT
ETPs
Also traded during the week were a total of 702,099 units of Exchange Traded Products (ETPs) valued
at N12.971 million executed in 19 deals compared with a total of 5,407 units valued at N316,261.62
transacted last week in 15 deals. (See summary in the table below).
S/N
Security
Deals
Volume
Value
1
VETGRIF30
11
701,759
12,299,117.27
2
NEWGOLD
8
340
671,764.00
19
702,099
12,970,881.27
RETAIL BONDS
Similarly, a total of 4,600 units of Federal Government Bonds valued at N4.768 million in 1 deal were
traded this week compared with a total of 200 units valued at N215,666.23 transacted last week in 2
deals.
S/N
Security
Deals
Volume
Value
1
FG102016S1
1
4,600
4,767,756.25
1
4,600
4,767,756.25
INDEX MOVEMENT
The NSE All-Share Index and Market Capitalization rose by 2.33% to close on Friday at 39,087.10 and
N12.906 trillion respectively.
Similarly, all the indices appreciated during the week with the exception of the NSE Lotus II Index that
sheds 0.31% to close at 2,533.50. (See summary of Index movements in the table below)
WEEK
OPENING
WEEK
CLOSE
WEEKLY
CHANGE
WtD
MtD
QtD
YtD
% Change
The NSE All-Share Index (ASI)
38,197.73
39,087.10
889.37
2.33
-5.15
-5.15
-5.42
NSE 30 Index
1,728.41
1,762.57
34.16
1.98
-6.36
-6.36
-7.58
NSE Banking Index
384.31
398.32
14.01
3.65
-6.31
-6.31
-11.06
NSE Insurance Index
145.33
146.59
1.26
0.87
-1.74
-1.74
-4.11
NSE Consumer Goods Index
960.20
967.41
7.21
0.75
-6.30
-6.30
-12.07
NSE Oil/Gas Index
420.28
437.61
17.33
4.12
-5.04
-5.04
28.75
NSE Lotus II
2,533.81
2,533.50
-0.31
-0.01
-7.06
-7.06
-11.51
NSE Industrial Goods Index
2,535.90
2,610.49
74.59
2.94
-4.62
-4.62
2.51
NSE ASeM Index
951.09
951.14
0.05
0.01
0.01
0.01
-1.16
For Further Inquiries Contact: Market Operations Department
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WEEKLY REPORT
The NSE All-share and NSE-30 Indices
Week Ended October 24, 2014
39,200.00
39,000.00
38,800.00
38,600.00
38,400.00
38,200.00
38,000.00
37,800.00
37,600.00
1,780.00
1,770.00
1,760.00
1,750.00
1,740.00
1,730.00
1,720.00
1,710.00
1,700.00
ASI NSE-30
NSE-30
SUMMARY OF PRICE CHANGES
Fifty-four (54) equities appreciated in prices during the week higher than thirteen (13) equities of the
preceding week. Sixteen (16) equities depreciated in prices lower than sixty-nine (69) equities of the
preceding week, while one hundred and thirty (130) equities remained unchanged higher than one
hundred and eighteen (118) recorded in the preceding week.
Top 10 Price Gainers
Company
COSTAIN (WEST AFRICA) PLC
NEIMETH INTERNATIONAL PHARMACEUTICALS PLC
LEARN AFRICA PLC
NATIONAL SALT COMAPNY NIGERIA PLC
N.E.M INSURANCE CO.(NIG) PLC
OANDO PLC
LIVESTOCK FEEDS PLC
DANGOTE SUGAR REFINERY PLC
A. G. LEVENTIS (NIGERIA) PLC
IKEJA HOTEL PLC
Open
0.80
0.98
1.31
8.15
0.69
21.40
2.70
7.05
1.33
2.89
For Further Inquiries Contact: Market Operations Department
Close Gain (N)
0.93
0.13
1.11
0.13
1.45
0.14
9.00
0.85
0.76
0.07
23.56
2.16
2.95
0.25
7.70
0.65
1.45
0.12
3.12
0.23
% Change
16.25
13.27
10.69
10.43
10.14
10.09
9.26
9.22
9.02
7.96
Page 3
WEEKLY REPORT
Top 10 Price Decliners:
Company
UNILEVER NIGERIA PLC
P. Z. INDUSTRIES PLC
PRESCO PLC
CUTIX PLC
R. T. BRISCOE (NIG.) PLC
STERLING BANK PLC
MAY & BAKER NIGERIA PLC
CADBURY NIGERIA PLC
NCR (NIGERIA) PLC
BERGER PAINTS NIGERIA PLC
Open
45.85
30.33
35.50
1.88
0.89
2.35
1.80
52.51
13.50
8.50
Close Loss (N)
40.00
-5.85
26.99
-3.34
32.05
-3.45
1.75
-0.13
0.84
-0.05
2.23
-0.12
1.71
-0.09
49.89
-2.62
12.83
-0.67
8.08
-0.42
% Change
-12.76
-11.01
-9.72
-6.91
-5.62
-5.11
-5.00
-4.99
-4.96
-4.94
PRICE ADJUSTMENT
The below security was adjusted for dividend as recommended by their board of directors:
COMPANY
CLOSURE
DATE
DIVIDEND
BONUS
PAYMENT
DATE
AGM DATE
EX-DIV
PRICE
CUTIX PLC
20/10/2014
N0.12
NIL
17/11/2014
31/10/2014
N1.76
SUPPLEMENTARY LISTINGS:
Equity
A total quantity of 78,446,689,710 newly issued ordinary shares of 50k each in favour of Unity Bank Plc
arising from the concluded rights Issue and Placing were added to its shares outstanding in October 22,
2014. The total outstanding shares of the company now stood at 116,893,379,420.
Bonds
Total Amounts of N18,612,000,000.00,N40,330,000,000.00 and N25,000,000,000.00 were added to the
following bonds 13.05% FGN AUG 2016,14.20% FGN MAR 2024 and 12.1493% FGN JUL 2034
respectively in October 22, 2014.
FINANCIAL NEWS
UNAUDITED ACCOUNT
INTERLINKED TECHNOLOGIES PLC: FIRST QUARTER FINANCIAL RESULTS FOR THE PERIOD
ENDED 30TH SEPTEMBER 2014-N’000 Revenue 2014 N51,607 2013 N23,204 Profit/Loss After
Taxation 2014 N1,773 2013 (N1,645).
For Further Inquiries Contact: Market Operations Department
Page 4
WEEKLY REPORT
NPF MICROFINANCE BANK PLC: UNAUDITED RESULTS FOR THE QUARTER ENDED
SEPTEMBER 30, 2014- Gross Earnings - 30/09/2014 N1,579m 30/09/2013 N1,292m. Profit After Tax
30/09/2014 N393m 30/09/2013 N313m.
LIVESTOCK FEEDS PLC: UNAUDITED FINANCIAL STATEMENT FOR THE 9 MONTHS ENDED 30
SEPTEMBER 2014-N’000 Revenue 2014 N5,460,808 2013 N4,290,612 Profit/Loss after Tax 2014
N163,557 2013 N111,655.
ABBEY MORTGAGE BANK PLC:UNAUDITED FINANCIAL STATEMENTS FOR THE THIRD
QUARTER ENDED SEPTEMBER 30, 2014- Revenue 2014 N1.17b 2013 N1.13b Profit After Tax 2014
N86.310m 2013 N32.405m.
LEARN AFRICA PLC:UNAUDITED FINANCIAL STATEMENT FOR THE QUARTER ENDED JUNE
30,2014- N’000 Revenue 2014 N447,479 2013 N358,891 Profit/Loss After Tax 2014 (N185,306) 2013
(N198,585).
GUARANTY TRUST BANK PLC:UNAUDITED FINANCIAL STATEMENT FOR THE THIRD QUARTER
ENDED SEPTEMBER 30 2014 - REVENUE: SEPT 2014 N199bn SEPT 2013 N182bn PROFIT AFTER
TAX SEPT 2014 N67b SEPT 2013 N69b.
PAINTS AND COATINGS MANUFACTURERS NIGERIA PLC:UNAUDITED FINANCIAL
STATEMENTS FOR THE THIRD QUARTER ENDED SEPTEMBER 30, 2014-Revenue 2014
N1,662,803,625 2013 N2,146,118,933 Profit After Taxation 2014 N70,995,551 2013 N283,670,971.
LAW UNION AND ROCK INSURANCE PLC: UNAUDITED FINANCIAL STATEMENTS FOR THE
THIRD QUARTER ENDED SEPTEMBER 30, 2014- N’000 Gross premium Written 2014 N3,588,945
2013 N2,881,191 Loss/Profit After Taxation 2014 N178,879 2013 N302,115
COURTEVILLE BUSINESS SOLUTIONS PLC: UNAUDITED FINANCIAL STATEMENTS FOR THE
QUARTER ENDED 30 SEPTEMBER, 2014- Revenue 2014 N1,116,365,691 2013 N913,963,681Profit
for the Year 2014 N310,830,880 2013 N267,588,369.
FIRST ALUMINIUM NIGERIA PLC:UNAUDITED FINANCIAL STATEMENTS FOR THE QUARTER
ENDED 30 SEPTEMBER, 2014-Revenue 2014 N2,126,629,000 2013 N2,126,611,000 Profit /(Loss)
After Tax 2014 N11,136,000 2013 N5,087,000.
NIGERIAN BREWERIES PLC: Unaudited Financial Statements for the nine months ended
September 30, 2014-N’000 Revenue 2014 N194,739,091 2013 N190,303,589 profit After Tax 2014
N29,826,935 2013 N26,801,891. Closure of Register – Nine Months Ended September 30, 2014
(Interim Dividend) Proposed Dividend N1.25,Proposed Bonus NiL,Closure Date 13th – 19th November
2014,AGM Date N/A ,Payment Date 20th November 2014,AGM Venue ECWA Conference H N/A.
TRANS-NATIONWIDE EXPRESS PLC: Unaudited Financial Statements for the nine months ended
September 30, 2014- N’000 Revenue 2014 N537,007 2013 N529,385 Profit After Tax 2014 N27,417
2013 N50,201.
CADBURY NIGERIA PLC: UNAUDITED FINANCIAL STATEMENTS FOR THE NINE MONTHS
ENDED SEPTEMBER 30, 2014- Revenue: September 2014 N23313m September 2013 N26547m
Profit After Tax: September 2014 N1653m September 2013 N3875m.
For Further Inquiries Contact: Market Operations Department
Page 5
WEEKLY REPORT
NIGERIA AVIATION HANDLING COMPANY PLC: CONSOLIDATED STATEMENT OF
COMPREHENSIVE INCOME FOR THE PERIOD ENDED SEPTEMBER 30 2014-Turnover/Revenue
30/09/2014 N 6.02b 30/09/2013 N 5.79b.Profit after Tax 14 N597.15m 13 N585.02m.
AFRICA PRUDENTIAL REGISTRARS PLC:UNAUDITED ACCOUNT FOR THE THIRD QUARTER
ENDED SEPTEMBER 30 2014- Revenue 2014 N1,505m 2013 N1,172m Profit After Tax 2014 N828m
2013 N611m.
ALUMINIUM EXTRUSION INDUSTRIES PLC: UNAUDITED FINANCIAL STATEMENTS FOR THE
PERIOD ENDED SEPTEMBER 30, 2014- Revenue: September 2014 N1.53b September 2013 N1.41b
Profit After Tax September 2014 N37.57m September 2013 N91.95m.
UBA CAPITAL PLC: UNAUDITED RESULT FOR NINE MONTHS ENDED 30TH SEPTEMBER 2014REVENUE 2014 N3.20bn 2013 N3.23bn Profit After Tax 2014 N1.69bn 2013 N1.72bn.
AUDITED ACCOUNT
INTERLINKED TECHNOLOGIES PLC:AUDITED ACCOUNT FOR THE YEAR ENDED 30 JUNE 2014N’000 Revenue 2014 N216,816 2013 N203,749 Profit After Tax 2014 N5,910 2013 N3,696.
Please visit http://www.nse.com.ng/Issuers-section/corporate-disclosures/company-results for full
details of Financial News.
OTHER MARKET NEWS
MULTIVERSE PLC: Joint Venture with Anhui Huishang Metal Corporation Ltd- Multiverse Plc
notified The Nigerian Stock exchange that the company has signed a Joint Venture Agreement with its
Technical Partner, Anhui Huishang Metal Corporation Ltd of China (AHMCL), a leading Lead and Zinc
mining company in China.
The collaboration agreement involves the geological exploration, mine development and production of
Lead and Zinc Ores, non-ferrous metals with worldwide market demand, in one of its mine properties
Exploration License EL 16879 in Abuni, Awe, Local Government of Nasarawa State.
Multiverse Plc and AHMCL have created a Special Purpose Vehicle (SPV) to explore, develop and mine
the huge deposit of Lead and Zinc ores in the said mine property. AHMCL is committed to spend about
USD111 million (One hundred and eleven million US Dollars) in terms of equipment, exploration and
mine technology over a period of 4 years effective from 2014.
The company also notified The Exchange that the result of the Resource Study to determine the
Reserve Estimate of Lead and Zinc carried out by the Geological Institute of China will be made
available in due course.
PRESCO PLC: Presco Plc Announces Proposed Rights Issue- Presco Plc announced that it has
commenced the process to raise up to N3 billion by way of Rights Issue following shareholders’ approval
at the Annual General Meeting held on 22 July 2014.
For Further Inquiries Contact: Market Operations Department
Page 6
WEEKLY REPORT
The Directors believe that the proposed Rights Issue presents an excellent opportunity for existing
shareholders to increase their investment in the company, which has consistently recorded impressive
results and also paid dividends to its shareholders over the years.
Mr. Uday Pilani, Managing Director of the Company, explained that the Directors have decided to
undertake the Rights Issue to give the Company financial flexibility and reorganise its capital structure.
The net proceeds of the Rights Issue will be used to reduce the Company’s debt and foreign exchange
exposure.
BERGER PAINTS NIGERIA PLC: Appointment of Non-Executive Directors- Berger Paints Nigeria
Plc notified The Exchange of the appointment of following; Mr Raj Mangtani, Mr Adekunle Olowokande
and Engr. Patrick Buruche as Non-Executive Directors of the Company as approved by the Board of
Directors of the Company.
Mr Raj S. Mangtani is an Indian by Nationality and holds a Bachelor in Commerce from the University
of Bombay. He is also a member of Indian Professionals, Nigeria.
Mangtani started his professional career with Akzo Nobel in Stenunsungd, Sweden and still the major
principal of the Company till date. In 1985 he joined Emychem, formerly Emmyson Ltd, a company that
deals with the distribution of chemical raw materials in Nigeria/West Africa and other 20 leading
European and American Manufacturers, as Managing Director. A position he holds till date.
He is a member of Nigerian Institute of Management.
Mr. Adekunle O. Olowokande (ACCA, MA (International Finance). A qualified professional Accountant,
Mr. Olowokande holds HND in Accountancy & Finance from the College of Technology, Yaba, Lagos (
1997 – 2000) and obtained a Masters Qualifying Programme from the Bellerbys College, Hove, UK in
2001. He later obtained MA in International Finance from London Metropolitan University in 2003 and
became ACCA Certified in 2009.
He started his working career with Berger Paints Nigeria Plc as an Assistant to the Cost Accountant of
the Company (2000 – 2001) before moving to A.E.T.C Ltd, a Training Centre in the United Kingdom
(2003 – 2009).
He returned to Berger Paints Nigeria Plc in July 2010 as the Corporate Strategy & Risk Manager,
reporting to the Managing Director with responsibilities for overall business risk assessment and asset
Management, Management and Financial statutory compliance, Qualitative and Quantitative analysis of
strategic business plans and regular liaison with business units and heads.
Engr. Patrick Nnamdi Buruche: Attended The Institute of Management and Technology (IMT) Enugu
where he obtained his National Diploma in Building Engineering (1984 – 1986) before proceeding to
Nnamdi Azikiwe University, Awka from 1992 to 2001 obtaining a Bachelor of Engineering Degree
(B.Engr).
For Further Inquiries Contact: Market Operations Department
Page 7
WEEKLY REPORT
His professional work started with the Anambra State Water Corporation (1998 – 2000) as a Senior
Technical Officer/Assistant Zonal Manager Onitsha Zone. He became the Zonal Manager in
Njikoka/Oyi/Abagana and Ihiala Zones respectively in the same Corporation (2000 – 2001)
Patrick has in the course of his professional career participated in several huge water and construction
projects.
From June 2007 to September 2007, in conjunction with Anambra State Government, he was among
the team of Engineers and Geologists under the European Union assisted Water Supply and Sanitation
Sector Reform Programme. Also in July 2010, he supervised the construction of a 246 meters deep
industrial water borehole at Nnewi. From November 2011 – December 2011, he was Project Engr in the
design and Construction of a 4km Ihe-Agbudu erosion Project in Agwu L .G. A for Anambra-Imo River
Basin Development Authority. He has also served as Project Engineer in the construction of many other
projects both in Enugu and Anambra States. He is currently the Managing Director/Chief Executive
Officer of Pangoc Global Services Limited.
MRS OIL NIGERIA PLC: – Notice of Board Meeting- MRS Oil Nigeria Plc notified The Nigerian Stock
Exchange that its Board meeting earlier scheduled for to hold on 30 October 2014 to consider the 3 rd
quarter unaudited results of the company has been re-scheduled to 12 November 2014.
This change becomes inevitable to accommodate the Chairman, whose inability to attend previous
board meetings, was observed by shareholders at the last Annual General Meeting of the Company.
BETA GLASS PLC: Frigoglass to Explore Strategic Options for its Glass Operations- Beta Glass
Plc notified The Exchange that Frigoglass SAIC in Attens, the parent company of Frigoglass Industries
Nigeria Limited, which is the core investor in Beta Glass Plc has announced that it is commencing an
exploratory process relating to strategic options for its Glass business. The Company holds a marketleading position as a Glass bottle manufacturer in West Africa and the Middle East, both prime targets
for investments by top-tier international beverage brands. Because of the long-term high growth
potential of the glass packaging business and the Company’s strong position and solid manufacturing
base in Nigeria, Frigoglass has been approached by a variety of investors expressing their interest in a
wide range of strategic options, such as joint ventures, minority participations or even full acquisition of
the business. As such approaches may represent significant value creation potential, the Company has
resolved to evaluate those options in a structured manner and has retained Citigroup Global Markets
Limited as its exclusive financial advisor to this effect.
No assurances can be given that the Company will enter into any transactions as a result of this
process. Frigoglass will not be making any further announcements relating to this process unless and
until this is necessary or appropriate.
NIGERIAN AVIATION HANDLING COMPANY PLC: Appointment of Acting Managing DirectorNigerian Aviation Handling Company Plc notified The Nigerian Stock Exchange of the appointment of
Mr. Norbert Bielderman as the Acting Managing Director of the Company effective 23rd October 2014.
For Further Inquiries Contact: Market Operations Department
Page 8
WEEKLY REPORT
The appointment was done in line with the Company’s succession plan and corporate governance as
the current Managing Director/CEO, Mr. Kayode T. Oluwasegun Ojo whose contract expires on 31st
March 2015 is proceeding on leave effective 23rd October 2014.
The Acting Managing Director, Mr. Bielderman, joined the Company as Chief Operating Officer in May
2010 and rose to become an Executive Director, Operations in December 2013. He is a tested aviation
practitioner with 29 years hands-on experience in ground handling operations, project management,
strategy implementation, logistics chain management amongst others.
HONEYWELL FLOUR MILLS PLC: Appointment of Non-Executive Director- Honeywell Flour Mills
Plc notified The Nigerian Stock Exchange of the appointment of Mr. Alan Palmer to the Board of the
company. Mr. Palmer has close to 40 years’ experience in the Fast Moving Consumer Goods (FMCG)
space; and brings on board a robust blend of knowledge of the local, regional and international FMGC
industry with a sound appreciation and application of leading practices across key value chain areas.
Mr. Palmer has worked with global organisations such as Kraft Foods Incorporated, Cadbury Plc and
Trebor Bassett Limited. He was the immediate past Managing Director and CEO of Kraft West Africa
and Cadbury Nigeria Plc and the Managing Director, South-East Asia for Cadbury Schweppes Plc. He
has also held several strategic roles including board positions, locally and internationally.
DIAMOND BANK PLC: Retirement and Appointment Managing Director- Diamond Bank Plc
notified The Nigerian Stock Exchange of the appointment of Mr. Uzoma Dozie as its new Group
Managing Director/CEO following the voluntary retirement of the Group Managing Director/Chief
Executive Officer, Dr. Alex Otti.
Mr. Dozie’s appointment is subject to the approval of Central Bank of Nigeria (CBN). The Bank states
that Mr. Dozie’s appointment was in recognition of his extensive managerial capabilities and in
consonance with the Bank’s succession strategy and in recognition of Mr. Dozie’s wealth of banking
knowledge.
Dr. Alex Otti, OFR is a 1988 graduate of the University of Port Harcourt where he finished with a First
class honors degree in Economics. He subsequently received an MBA from the University of Lagos in
1994 as well as honorary Doctorate degrees from Babcock University and the Universities of Port
Harcourt (UNIPORT) and Nigeria (UNN) in 2009, 2012 and 2013 respectively. Prior to his appointment
as the Group Managing Director/CEO of Diamond Bank Plc in March 2011, Dr Otti worked in a number
of financial institutions in various capacities. He started from Nigeria International Bank Limited, a
subsidiary of Citibank N.Y. in 1989 and thereafter moved to United Bank for Africa Plc as Principal
Manager and Head, Corporate Banking Sector, South. In May 2001, he joined First Bank of Nigeria Plc
as an Assistant General Manager with responsibility for the Bank’s Energy Group. In April 2004, he was
promoted to Deputy General Manager and in September 2005, he was appointed Executive Director
Commercial Banking. In October 2006, he was re-designated Executive Director (South), and given the
responsibility to oversee the bank’s businesses in both South-South and South Eastern geo-political
zones of Nigeria.
For Further Inquiries Contact: Market Operations Department
Page 9