JULY 31, 2017: DANGOTE CEMENT DOWN N11.76.
At the Nigerian stock exchange today, July 31, 2017,Nigeria's top capitalised equity, Dangote Cement lost N11.76 per share or 4.99% and recorded 88 deals for 0.377m shares worth N85.223m.
It does dragged Premium index down by 4.63% to 2438.39 and helped fuel the continued punctuation of almost week long daily All shares index increase. The ASI recorded higher 2.69% drop to 35,844 after last Friday's 1.02% decrease which made week 30 less and all round daily increase one.
Brokers must be unhappy with Dangote Cement's drop in profit margin to 36.2% by half year , according to latest figures, compared to 37% in the first half of 2016.
Dangote Cement's major headache remains its debt servicing load and corresponding drop in finance income. The 62.2% decrease in finance income to N16,487m and 46% increase in finance cost to N24,404m rubbish the robust 66.8% increase in operating profit Dangote Cement had recorded as it administration cost grew by only 9.8% to N20,950m despite 27.7% increase in total income to N430,374m.
The 39.4% increase in selling and distribution cost to N51,890m it reported also posed a challenge although cost of sale behave better by growing almost in tow with income to N177,549m.
Other najor sectoral drops in indices were Industrial index's 4.69% decline to 2152.88; consumer index decline by 3.84% to 847.88 and the 3.79% drop in banking index to 445.33.; most of them as brokers reacted to the harvest of results, mainly interim, since July 25, 2017 especially an avalanche on July 28.
Generally, though, trading was down when compared to Friday level which was an improved on a giddy Thursday. The traded value dropped by 35.3% to N5.265bn as only Zenith bank recorded above N1bn traded value; traded volume also decreased by 6.74% as only FCMB reocrded offlload above 100m units and number of deals dropped by 4.15% to 5558.
The lead traded value was recorded as Zenith bank closed down N1.29 per share or by 4.98% with day high 492 deals for 4th placed 45.78m shares worth N1.148bn.
It was trailed GTB, down N2.05 per share or by 4.99%, with 5th ranked 251 deals for 18.32m shares worth N715.94m and Nigerian Breweries, down 2nd placed N4.62 per share or 2.69%, with 163 deals for 2.787m units worth N415.19m.
Lead volume though was recorded as 127.6m units changed hands in FCMB, down N0.06 per share or 4.58%, with 3rd ranked 410 deals worth N154.2m followed by FBN Holdings with 2nd placed 489 deals for 58.34m units worth N347.19m while closing up N0.22 per share or by 3.81%.
There were 23 gainers led in Naira terms by Okomu Oil's N5.62 per share or 7.55% and in % terms by Dangote sugar, up 10.22% or by N1.11 per share and NASCON up N0.96 or 10.15%.
Leading the losers in % terms was Cement company of Northern Nigeria, down 9.65% or N0.89 per share followed by a cluster of three equities down 4.99%: Dangote Cement, GTB and La Farge Africa.
It does dragged Premium index down by 4.63% to 2438.39 and helped fuel the continued punctuation of almost week long daily All shares index increase. The ASI recorded higher 2.69% drop to 35,844 after last Friday's 1.02% decrease which made week 30 less and all round daily increase one.
Brokers must be unhappy with Dangote Cement's drop in profit margin to 36.2% by half year , according to latest figures, compared to 37% in the first half of 2016.
Dangote Cement's major headache remains its debt servicing load and corresponding drop in finance income. The 62.2% decrease in finance income to N16,487m and 46% increase in finance cost to N24,404m rubbish the robust 66.8% increase in operating profit Dangote Cement had recorded as it administration cost grew by only 9.8% to N20,950m despite 27.7% increase in total income to N430,374m.
The 39.4% increase in selling and distribution cost to N51,890m it reported also posed a challenge although cost of sale behave better by growing almost in tow with income to N177,549m.
Other najor sectoral drops in indices were Industrial index's 4.69% decline to 2152.88; consumer index decline by 3.84% to 847.88 and the 3.79% drop in banking index to 445.33.; most of them as brokers reacted to the harvest of results, mainly interim, since July 25, 2017 especially an avalanche on July 28.
Generally, though, trading was down when compared to Friday level which was an improved on a giddy Thursday. The traded value dropped by 35.3% to N5.265bn as only Zenith bank recorded above N1bn traded value; traded volume also decreased by 6.74% as only FCMB reocrded offlload above 100m units and number of deals dropped by 4.15% to 5558.
The lead traded value was recorded as Zenith bank closed down N1.29 per share or by 4.98% with day high 492 deals for 4th placed 45.78m shares worth N1.148bn.
It was trailed GTB, down N2.05 per share or by 4.99%, with 5th ranked 251 deals for 18.32m shares worth N715.94m and Nigerian Breweries, down 2nd placed N4.62 per share or 2.69%, with 163 deals for 2.787m units worth N415.19m.
Lead volume though was recorded as 127.6m units changed hands in FCMB, down N0.06 per share or 4.58%, with 3rd ranked 410 deals worth N154.2m followed by FBN Holdings with 2nd placed 489 deals for 58.34m units worth N347.19m while closing up N0.22 per share or by 3.81%.
There were 23 gainers led in Naira terms by Okomu Oil's N5.62 per share or 7.55% and in % terms by Dangote sugar, up 10.22% or by N1.11 per share and NASCON up N0.96 or 10.15%.
Leading the losers in % terms was Cement company of Northern Nigeria, down 9.65% or N0.89 per share followed by a cluster of three equities down 4.99%: Dangote Cement, GTB and La Farge Africa.
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