Home Money These Stocks Made Money For People Last Week

These Stocks Made Money For People Last Week


The Nigerian Stock Exchange All Share Index appreciated last week by 10%, with the index closing at 42,898.90 basis points. Year to date, the index is up 12.17%. Sit back and think about this again!! 12% in one week alone.

Here is a list of stocks that topped the gainers list last week, and our thoughts on their price direction this coming week.

Honeywell Flour Mills

Honeywell Flour Mills was the biggest last week, gaining 39.68%. The stock opened at N2.52 and closed at N3.52. Year to date the stock is up 67.62%, so investors would very likely take some profit off the table this week. The rally in the stock’s price is not unconnected to the positive results released so far.

Results for the six months ended September 2017 show a massive jump in top and bottom line. Revenue increased from N24.4 billion in 2016 to N39.1 billion in 2017. Profit before tax also increased massively from N482 million in 2016 to N2 billion in 2017.

Earnings per share also jumped from 4.91 kobo in 2016 to 27 kobo in 2017. Honeywell flour paid 6 kobo as dividend for its financial year ended March 2017. The blistering results suggest the dividend pay out could increase this year.

Skye Bank

Skye bank had the second largest gain in terms of share price this week. The stock gained 37.7% within the week, opening at 0.61 kobo and closing at 0.84 kobo. The rise in the company’s share price is largely due to renewed sentiments for tier 2 banks which were largely left out of the rally last year. Skye Bank is yet to release any results for the 2016 financial year.

Year to date, Skye bank has gained 68%, but may likely dip within the week as investors take profit. Be careful with this one as it is not a fundamental play. We don’t think the ride is sustainable.

Champion Breweries

Champion Breweries gained 36. 57% or 0.79 kobo within the week. The stock opened at N2.16 and closed at N2.95. Further room for upside exists this week as the stock was trading above N3.00 last year before correcting. Champion breweries is up 41.83%, year to date, suggesting room for further upside.  There is also rumour that Nigerian Breweries might soon consolidate. Champion Breweries is a subsidiary of Nigerian Breweries.

Sterling Bank

Sterling bank gained 35.46% last week, opening at N1.41 and closing at N1.91. Year to date, the stock has gained 71%. Investors could thus decide to take some profit this week.

Sterling Bank’s results for the 9 month ended September 2017 were largely flat. Interest income increased from N78.2 billion in 2016 to N78.8 billion in 2017. Profit before tax increased from N6.53 billion in 2016 to N6.56 billion in 2017. The bull ride last week was also as a result of sentiments for tier 2 banks. People still think stocks that are priced below N2 are cheap.

Diamond bank

Diamond bank gained gained 34. 39% last week, opening at N1.89 and closing at N2.54. Diamond bank was one of the few tier 2 banks that made significant gain last year, and has carried on gaining in 2018. Year to date the stock has gained 69.33%.

Diamond Bank’s 9 months result ended 2017 show a massive improvement compared to the prior year. Interest income increased from N107 billion in 2017 to N131 billion in 2017. Profit before tax increased massively from N3.8 billion in 2016 to N6.6 billion in 2017. Earnings per share also increased from 15 kobo in 2016 to 25 kobo in 2017.

There is also speculations that the bank might be raising capital soon.

Eterna Oil Plc

Eterna Oil opened the week at N4.92 and closed at N6.60, gaining 34.15%. Year to date, the stock is up 62.56% and is part of Nairametrics list of stocks to watch in January.

For the 9 months ended September 2017, revenue increased from  N72 billion in 2016 to N140 billion in 2017. Profit before tax increased from N2.4 billion in 2016 to N2.9 billion in 2017. Earnings per share also increased from N1.29 in 2016 to N1.55 in 2017.


Conoil opened gained N10 during the week. Opening at N29.40 and closing at N39.41. Though Conoil’s results for the 9 months ended September 2017 declined compared to the corresponding period in 2017, the downstream sector has had renewed optimism due to a planned special FX window to enable them import petroleum products. Conoil has gained 40% year to date, leaving room for further price appreciation.


FCMB gained 33.68% or 64 kobo within the week. The stock opened at N1.90 and closed at N2.64.  FCMB shares have appreciated 71% year to date, suggesting the price rally may pull back a bit as investors take profit.

Cement Company of Northern Nigeria (CCNN) Plc

CCNN Plc gained 33.40% within the week. The stock opened at N9.94 and closed at N13.26. It  has appreciated by 35% year to date, suggesting room for more upside if market sentiments remain positive.

Unity Bank Plc

Unity Bank Plc gained 32% last week. The stock opened at N0.62 and closed at N0.82 last week. Year to date, the stock has gained 54%.

Subscribe to TN Daily!

Follow us on twitter @topnaija.

Copyright 2017 TopNaija.ng. Permission to use quotations from this article is granted subject to appropriate credit being given to www.topnaija.ng as the source.
Previous articleTwo Soldiers Slump At Armed Forces Day Parade
Next articleDownload+Lyrics: Joe Praize – Mighty God
I'm a proactive and smart problem solver. An accountant by profession, social media savvy and passionate about business development. Find me at the corner where technology meets social impact | Akintunde Oyedokun is a Staff Reporter at TopNaija.ng


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.