By InvestAdvocate

Lagos (INVESTADVOCATE)-Paint manufacturer, Berger Paints Plc said on Thursday pretax profit for the period ended December 31, 2015 climbed up to N565.21 million from N249.25 million recorded a year ago.

Similarly, profit after tax (PAT) rose 122 percent to N330.31 million from N148.80 million posted the corresponding period of 2014.

However, revenue of BERGER dragged from N3.08 billion in 2014 end to N3.02 billion declared in the review period of 2015; showing a slight decline in revenue of two (2) percent, the paint producer said in a filing with the Nigerian Stock Exchange (NSE).

In its corporate action to the NSE, the board of directors of the company said it has proposed a dividend of 75 kobo per share to its shareholders compared to 70 kobo per share paid in 2014 end.

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By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) on Monday
opened the week on a positive note as all-share index (ASI) gained 0.58 percent
to close at 23,963.64 basis points.

Similarly, market capitalisation increased by 47.16 billion
to N8.24 trillion, reducing the Month and Year-to-Date losses each to 16.33
percent, according to Cordros daily market update.

The report affirmed that two (2) of the five (5) sector indices recorded gains. The Banking and Oil & Gas indices led the gainers list with gains of 3.45 percent and 1.06 percent respectively; following growths in the shares of Nigeria’s top tier lender, Zenith Bank Plc by 7.79 percent and first
dual listed Nigerian oil and gas upstream firm, Seplat
Petroleum
Development Company Plc by 5.00 percent.

On the contrary, the Industrial Goods and Insurance sectors dipped by 0.54 percent and 0.27 percent according on the dismay performance recorded in the sharesof cementmanufacturer, Lafarge
Cement
WAPCO Nigeria Plc by 1.22 percent and insurer, AIICO Insurance Plc losing by 0.27 percent.

Similarly, the Consumer Goods index also declined as beer
maker, Nigerian Breweries dipped 4.81 percent.

According to Cordros, at the close of today’s session on the Nigerian bourse, market breadth was positive, with 25 gainers and 16 losers posted. Brewer, Guinness Nigeria Plc emerged the top gainer with a gain of N10.43 per share; while paint producer, Berger Paints Plc topped the losers chart with a loss of 0.96 kobo per share.

In terms of turnover, total volume traded decreased by 78.59
percent to close at 215.18 million shares, valued at N2.10 billion in 3,853
total deals.

“We expect gains to persist in the coming sessions as market breadth remains indicative of strong positive sentiments,” the Cordros update affirmed.

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Lagos (INVESTADVOCATE)-Equities on Tuesday extended its losses as all-share index (ASI) dipped 1.20 percent on declines in the Banking and Consumer Goods sectors of the Nigerian Stock Exchange (NSE).

The ASI at the close of trading on the local bourse closed at 26,034.93 basis points, while market capitalisation decreased by N108.42 billion to N8.95 trillion.

Cordros daily market update affirmed that all sector indices declined, it reported that the Banking and Consumer Goods sectors depreciated 3.07 percent and 1.66 percent respectively to drag the market following losses in the shares of top tier lenders, Zenith Bank Plc and Guaranty Turst Bank Plc by 4.96 percent and 3.63 percent respectively.

On the Consumer Goods, soap and detergent maker, PZ Cussons Nigeria Plc and brewer, Nigerian Breweries Plc went down by 4.86 percent and 3.97 percent respectively to close the day.

Similarly, the Insurance sector closed 0.57 percent down on the declines in the shares of NEM Insurance Plc by 4.41 percent and Continental Reinsurance Plc 2.91 percent.

In the same vein, a decrease in the shares of oil marketing major, Oando Plc by 4.87 percent led the Oil & Gas index to a loss of 0.45 percent, while the Industrial index shed 0.01 percent on marginal losses the shares of paint producer, Berger Paints Plc and cement maker, Ashaka Cement Plc both going down 4.76 percent and 3.81 percent accordingly.

At the close of Tuesday’s business on the Nigerian bourse, market breadth was negative with eight (8) gainers and 32 losers recorded. Drugmaker, May and Baker Nigeria Plc emerged the top gainer with a gain of 0.05 kobo per share; while animal feeds company, Livestock Feeds Plc topped the losers chart with a loss of 0.12 kobo per share.

In terms of turnover, the Nigerian equities market reported total volume traded increased by 74.96 percent to stand at 223.39 million shares valued at N2.51 billion in 2,776 total deals.

“With all sector indices in red and the absence of a positive catalyst, we anticipate a loss in the upcoming session, albeit lower than today,” the Cordros update affirmed.

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