Nigeria Stock Market review and corporate news for the week ended July 12, 2019

By Financescape


Sentiments remained bearish in the NSE equities market, as the benchmark index went down by -2.41% WOW.
The All Share Index closed the week at 28,566.79 basis points, down 0.51%. Year to date, the index is down 9.11%. sell pressure persisted across all sectors of the market,

Top Gainers: at the end of trading on Friday, July 12, 2019, Consolidated Hallmark Insurance gained 10% top the gainers’ chart to close at N0.33, followed by CCNN N14.50, Sovereign Trust Insurance Plc N0.23, Courteville closed at N0.24. UACN rounds up the top five gainers to closed at N6.

Top Losers: Ikeja Hotel Plc lead the losers chart declining by 8.67% to close at N1.37, followed by UAC-Properties to close at N1.28, Vitafoam closed at N3.54, NB closed at N58 and Japaul rounds up the top five losers at N0.22.



Flour Mills of Nigeria release full-year financials for the year ended March 31, 2019, Revenue has decreased by 2.82% from N542,670,409,000 in 2018 to N527,404,567,000 in 2019, Profit before tax has decreased to 10.2 billion compared to 16.5 billion in 2018. The Board is proposing a dividend of N1.20



Red star express has released its result for the financial year ending March 31. 2019, Revenue has increased from N8.4 billion in the financial year 2018 to N10 billion in the financial year 2019 or an increase of 19.73%. Profit before tax increased from N610.5 million in 2018 to N743.4 million in 2019. The profit after tax increased from N347 million in 2018 to 466 million in 2019 representing a 34.15% increase. Propose a dividend of 43 kobos per share. The qualification date for the dividend is July 16. 2019, AGM will be held on August 8. 2019, while dividends will be paid on August 15. 2019.


Lasaco Assurance Plc has released its financial results for the year ended December 2018. Gross Premium Written increased from N6.6 billion in 2017 to N9 billion in 2018. Profit before Tax increased from N854 million in 2017 to N958 million in 2018. Profit after Tax also increased from N661 million in 2017 to N736 million in 2018. Propose a dividend of 5kobo per share.

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