Top 3 performing Consumer Goods stocks in April 2022

The Nigerian Exchange Limited (NGX) closed April on a strong note, with buy-interests and sell-pressures in the market, as the bulls dominated proceedings.

According to data from the Exchange, the ASI (All share Market Index) appreciated by 5.69% to close the month of April at 49,638.94 points, trading at an All-Time High from 46,965.48 points at the end of March and the Market cap increased by N1.5 trillion during the month.

Month-on-month, MEYER Plc led 63 advancers, surpassing 29 losers led by NPFMCRFBNK Plc, taking the market breadth to 2.17x and reflecting a bullish market.

Consumer Goods Performance

Mirroring the broad market, the Consumer Goods Index (CGI) also appreciated by 11.54% during the period under review, from 554.16 points to 618.11 points. The positive performance of the Index can be attributed to the general positive sentiments of investors towards the equity market in the period, as well as the fact that some of the companies posted impressive profit growth for the full-year 2021, as well as dividend announcements and payment.

Focusing on the performance of stocks in the Consumer goods sector, we see that out of the 23 companies under the CGI, fourteen (14) increased in share price while four (4) declined and 5 remained unchanged.

We have placed focus on the top 3 performing consumer goods stocks in the month under review. These stocks were selected based on their price-performance from month-to-date and are represented by the percentage gained.

Nigerian Breweries Plc – 41.16%

  • The shares of Nigerian Breweries Plc have enjoyed positive run since the beginning of the year. The most capitalized brewery on the exchange has gained 41.16% in price in April, from N40.45 to N57.10. The company enjoyed buy-interests which drove up the market capitalization by N134.46 billion to stand at N461.13 billion.
  • Recently, the company posted its Q1 2022 result, reporting a 30.37% growth in revenue from N105.68 billion in Q1 2021 to N137.77 billion in the current period. The brewery company reported a profit after tax of N13.61 billion from N7.66 billion in the corresponding period of 2021.
  • The shares of Nigerian Breweries Plc currently trades at N57.10 and has a year-to-date value of 14.20%.

Guinness Nig Plc – 30.62%

  • Guinness Nig Plc’s share price enjoyed investors’ positive sentiment as it appreciated by 30.62% during the period under review, from N71.20 to N93.00 at the end of April.  The company is the second most capitalized brewery after Nigerian Breweries, with its capitalization currently at N203.71 billion.
  • The company’s most recent 9-months financial result for the period ended March 31st, 2022, revealed that its revenue grew by 38.70% from N114.96 billion to N159.44 billion in the period being reviewed.
  • However, the company recorded astounding growth in profit of 731.23%, from N1.84 billion in 2021 to N15.28 billion at the end of the nine-month period. The shares of the company currently trades at N93.00 and has gained 138.46% from year-to-date.

Cadbury Nigeria Plc – 22.02%

  • The share price of Cadbury Nig Plc, grew by 22.02% during the period under review, from N8.40 per share to N10.25 per share, taking the market capitalization up by N3.47 billion within the month to stand at N19.25 billion.
  • The growth in the share price of the company can be attributed to positive sentiment toward the company’s impressive FY results.
  • Cadbury Nig’s Q1 2022 result revealed a 43% growth in revenue from N8.92 billion in 2021 to N12.79 billion in the current period. In addition, the company reported a 538% growth in net profit of N1.54 billion in Q1 2022 from N242 million in the corresponding period of 2021.
  • The shares of the company trades at N10.25 and year-to-date has appreciated by 16.48%.

Other companies that performed above 10% m-o-m were;

  • Champion Breweries Plc – 17.21%
  • International Breweries Plc – 15.91%
  • FTN Cocoa Processors plc – 15.63%
  • Livestock Feeds Plc – 10.83%

For the decliners, UNION DICON SALT Plc took the lead to lose 9.60% month on month, closing the month at N8.95 per share.

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