Despite double-digit inflation hinged on a challenging business environment, Dangote Cement, MTN Nigeria, and BUA Foods have earned their places in the listed companies’ trillion-naira market cap companies.
In the eight months to August, Nigeria’s equities market capitalisation garnered about N8.5trillion. The stock market, which saw sections of profit-taking and bargain hunting reached a 15-year high ahead of last month’s end.
BusinessDay analysis showed Dangote Cement earned the top spot on the list with N6.22 trillion market capitalisation, MTN Nigeria followed suit with N5.76 trillion market capitalisation and BUA Foods recorded N3.33 trillion market capitalisation.
BUA Cement recorded N3.26 trillion market capitalisation, Zenith Bank’s market capitalisation stood at N1.16 trillion, GTCO (N1.15 trillion), and Seplat Energy (N1.08 trillion).
Findings show that these firms are defying the odds by tightening their belts, and applying cost optimisation strategies and innovative solutions to navigate Nigeria’s weak macroeconomic environment and optimise the risk attached to it.
Here is a ranking analysis of Nigeria’s trillionaire-listed companies.
Dangote Cement
Dangote Cement’s market capitalisation stands at N6.22 trillion as of Friday. The firm’s share price amounted to N365 with a trading volume of 816,823 as of September 8, 2023.
The cement company’s revenue stood at N950.83 billion in H1 2023 from N808.04 billion in the same period of 2022.
Profit after tax stood at N178.6 billion in H1 2023 from N172.1 billion in the same period of 2022.
Earnings per share stood at N10.39 per share in the first half of 2023 from N10.10 per share in the same period of 2022.
Dangote Cement Plc is a Nigerian publicly traded multinational cement manufacturer headquartered in Lagos. The company is engaged in the manufacture, preparation, import, packaging, and distribution of cement and related products in Nigeria, and has plants or import terminals in nine other African countries.
Read also: Here are 10 Nigerian companies with highest earnings per share
MTN Nigeria
MTN Nigeria’s market capitalisation stands at N5.76 trillion as of Friday. The firm’s share price amounted to N274.5 with a trading volume of 684,817 as of September 8, 2023.
The telecommunication recorded gross earnings of N1.16 trillion in H1 2023 from N950.09 billion in the same period of 2022.
Profit after tax stood at N128.69 billion in H1 2023 from N181.63 billion in the similar period of 2022.
Earnings per share amounted to N6.33 per share from N8.95 per share in the comparable period.
MTN Group Limited is a South African multinational mobile telecommunications company, operating in many African and Asian countries. Its head office is in Johannesburg. As of December 2020, MTN recorded 280 million subscribers, making it the 7th largest mobile network operator in the world, and the largest in Africa.
BUA Foods
BUA Foods’ market capitalisation stands at N3.33 trillion as of Friday. The firm’s share price amounted to N185 with a trading volume of 13,028 as of September 8, 2023.
The consumer goods turnover stood at N320.93 billion in H1 2023 from N168.85 billion in the same period of 2022.
Net profit after tax grew to N95.2 billion in H1 2023 from N39.31 billion in the same period of 2022.
Earning per share stood at N5.29 per share from N2.18 per share in the comparable period.
BUA Foods is a food and fast-moving consumer goods business, which processes, manufactures, produces, and distributes food materials such as sugar, flour, pasta, rice, and edible oils as well as packaged foods. The Company’s products currently include fortified and non-fortified sugar, flour for large and small-scale use, and pasta.
Read also: Businesses’ outlook for Nigeria’s job market near 3-yr low
BUA Cement
BUA Cement’s market capitalisation stands at N3.26 trillion as of Friday. The firm’s share price amounted to N96.15 with a trading volume of 295,601 as of September 8, 2023.
The cement company recorded a revenue of N221.07 billion in H1 2023 from N188.56 billion in the same period of 2022.
Profit after tax rose to N63.62 billion in H1 2023 from N61.36 billion in the similar period of 2022.
BUA Cement’s basic earnings per share stood at N1.88 per share from N1.81 per share in the reviewed period.
BUA Cement PLC is a publicly listed firm headquartered in Nigeria, it produces and markets cement products in the country. It is the second largest producer in Nigeria after Dangote Cement.
Zenith Bank
Zenith Bank’s market capitalisation stands at N1.16 trillion as of Friday. The firm’s share price amounted to N36.95 with a trading volume of 4.7 million as of September 8, 2023.
In the absence of Zenith Bank’s half-year result on NGX as of when this article was written, the bank’s first-quarter gross earnings stood at N269.99 billion from N191.52 billion.
The bank’s profit after tax rose to N66.01 billion in the first half of 2023 from N58.2 billion in the same period of 2022.
Basic and diluted earnings per share stood at N2.10 per share from N1.85 per share in the comparable periods.
Zenith Bank Plc is a large financial service provider in Nigeria and Anglophone West Africa, headquartered in Victoria Island, Lagos. It is licensed as a commercial bank by the Central Bank of Nigeria, the national banking regulator.
Read also: MTN Nigeria targets net zero emissions with clean energy investment
Guaranty Trust Holding Company (GTCO)
GTCO’s market capitalisation stands at N1.15 trillion as of Friday. The firm’s share price amounted to N39 with a trading volume of 4.84 million as of September 8, 2023.
The holding company’s gross earnings amounted to N672.6 billion in H1 2023 from N239.29 billion in the same period of 2022.
Profit for the period amounted to N280.48 billion in H1 2023 from N77.56 billion in the same period of 2022.
GTCO’s basic earnings per share to N9.94 per share from N2.70 per share in the comparable period.
Guaranty Trust Holding Company PLC also known as GTCO PLC is a multinational financial services group, that offers retail and investment banking, pension management, asset management, and payments services, headquartered in Victoria Island, Lagos, Nigeria. GTCO Plc was created in July 2021 following the corporate reorganisation of Guaranty Trust Bank PLC (or GTBank) into a holding company.
Seplat Energy
Seplat Energy’s market capitalisation stands at N1.08 trillion as of Friday. The firm’s share price amounted to N1837 with a trading volume of 2,911 as of September 8, 2023.
The energy firm recorded revenue of N278.33 billion in the first half of 2023 from N219.20 billion in the first half of 2022.
Profit after tax increased to N42.03 billion in H1 2023 from N35.45 billion in the same period of 2022.
Earnings per share dropped to N37.60 per share from N58.19 per share in the period reviewed.
Seplat Energy is a Nigerian independent oil and gas company listed on both the London and Nigerian Stock Exchanges with assets in the Niger Delta. It was formed as Seplat Petroleum Development Company in June 2009 through the partnership of Shebah Petroleum Development Company Limited and Platform Petroleum Joint Ventures Limited to specifically pursue upstream oil and gas opportunities in Nigeria, and in particular divestment opportunities arising out of the incumbent Major IOC’s portfolios.
