JANUARY 1st PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS | Nigeria Newspaper- Nigeria News| Naija News

1.1.18

JANUARY 1st PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS

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JANUARY 1st PRICE LIST FOR MUTUAL FUNDS, REITS and ETFSInvestors in Dangote Sugar Refinery (DSR) Plc are counting their gains as the stock has recorded the highest price gain in the stock market for 2017. The shares in DSR soared by 227 per cent, from N6.11 to close the year at N20 per share.
International Breweries Plc trailed with a gain of 194.6 per cent, while Fidelity Bank Plc appreciated by 192.8 per cent. Fidson Healthcare Plc and Dangote Flour Mills Plc went up by 189 per cent and 185.8 per cent respectively.
Conversely, Morison Industries Plc led the laggards, shedding 67.8 per cent, trailed by Jaiz Bank Plc with 49.6 per cent. Forte Oil Plc depreciated by 48.5 per cent ,just as University Press Plc and MRS Oil Nigeria Plc closed 36.4 per cent lower.
Some market analysts said the high demand for DSR shares that propelled the price gain may have stemmed from expectation higher results at the end of the 2017 financial year.
DSR has been regular dividend paying company since it became listed on the Nigerian Stock Exchange (NSE) in 2008. The company had paid N7.2 billion dividend that translated to 60 kobo per share. The Chairman of DSR, Alhaji Aliko Dangote had told the shareholders that the company was in a position to pay a higher dividend but it retained some part of its earnings for investment in its backward integration programme.
“Our focus is the actualisation of our backward integration plans, your board will continue with the effective management of resources to achieve this target, sustainable financial future for the company, and in the turn drive sustainable returns to shareholders,” Dangote had said.
And based on the nine months results ended September 30, 2017, shareholders should expect higher dividend.
DSR recorded revenue of N163 billion for the nine months in 2017, showing an increase of 41 per cent above the N115.3 billion posted in the corresponding period of 2016. Cost of sales went up from N96.3 billion to NN121 billion, making the firm to close the period with gross profit of N41.473 billion as against N19 billion in 2016.
Profit before tax (PBT) grew from N15.328 billion in 2016 to N39.251 billion, while profit after tax (PAT) jumped from N16.5 billion to N25.4 billion. Gross profit margin improved significantly from 19 per cent to 41.5 per cent, just as net margin improved from 13 per cent to 24 per cent.
Commenting on the results, Acting Managing Director of DSR, Abdullahi Sule said: “The company’s performance remains promising despite the various economic challenges in the country. Increasing our local market share and achievement of our backward integration sugar production plans, remains our utmost focus.”

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