A Techy Week

Good morning and welcome to this week’s edition of 4 Customs Street, our weekly newsletter on the stock market. How was your weekend? 

Green White Green Last Week 

It was a good trading week as the NSE All-Share Index gained 1.27% closing at 39,301.82 basis points. 

The index measures the average performance of stocks on the exchange. Some stocks will do better than the index. Some stocks will do worse than the index. 

PZ Cussons Nigeria led last week’s gainers. It gained 21.1% opening at ?4.50 and closing at ?5.45. FTN Cocoa led last week’s losers. It fell 22%, opening at 50 kobo and closing at 39 kobo. 

A couple of companies released their Q1 2021 results. Q1 2021 means the first three months of the 2021 financial year. 

On a quarter-on-quarter basis, some firms did better while others dipped.

UBA Q1 2021 numbers

There was an increase in both the top line and bottom line. 

UBA grew its gross earnings by 5.6% from ?147 billion in 2020 to ?155 billion in 2021. Profit after tax rose by 26.8% from ?30.1 billion in 2020 to ?38.1 billion in 2021.

Nigeran Breweries had surprisingly good Q1 2021 numbers. Revenue rose by 27% from ?83.2 billion in 2020 to ?105.6 billion in 2021. Profit after tax rose by 38.6% from ?5.5 billion in 2020 to ?7.6 billion in 2021.

GTBank had a slight dip in both topline and bottom line in Q1 2021. Gross earnings fell by 5.9% from ?112 billion in 2020 to ?106 billion in 2021. Profit after tax fell by 9% from ?50 billion in 2020 to ?45.5 billion in 2021. 

Stanbic IBTC had a sharp dip in both topline and bottom line in Q1 2021

Gross earnings fell by 25.5% from ?61.4 billion in 2020 to ?45.7 billion in 2021. Profit after tax PAT fell by 45.3%  from N20.6 billion in 2020 to N11.2 billion in 2021. 

The key driver behind the lower numbers was a drop in trading income. 

Green White Green This Week 

It is a fairly busy week in terms of Annual General Meetings ( AGMs).

Transcorp Plc and Transcorp Hotels Plc will hold their AGMs on April, 2021. 

FBN Holdings will hold its AGM on April 27, 2021.

Fidelity and Access banks will hold their AGMs on April 30, 2021.

Many shareholders look towards AGMs as they get the opportunity to quiz management and approve the proposed dividends. 

Star-Spangled Banner Last Week 

Last week was a poor one in terms of performance. All 3 key indices closed in the red. The Dow fell by 0.46%. The S&P 500 dipped by 0.13%. NASDAQ Composite dropped by 0.25%

Star-Spangled Banner This week 

It is a techy week in terms of earnings. Alphabet (parent company of Google), Microsoft, and Apple will be releasing their first-quarter earnings during the week. 

The stocks are key components of the S&P index. A good performance will drive up the index, and vice versa. 

Electric car makers Tesla and NIO will also drop their earnings during the week. 

Did you find this newsletter useful? Please feel free to share it.

Have a great day.