Shares of Guinness Nigeria Plc increased by a whopping 78% following an increased and sustained buying pressure in the company shares, translating to an increase of over N32 billion in the market value of the brewing giants in the first three months of the year (Q1, 2021).
According to data tracked from the Nigerian Stock Exchange website, the market capitalization of the aforementioned firm rose from N41.62 billion as at 4th of January, 2021 (the first official trading day of the year) to N74.25 billion by the close of trading on the 31st of March, 2021.
It is pertinent to note that a larger percentage of the surge (approximately 73%) was recorded in the month of March alone when the brewing giant gained N23.8 billion.
The month of March was generally bearish for most listed brewing and consumer goods firms at the NSE as depicted by the NSE Consumer Goods Index which declined by 3.71%. This bearish situation was influenced by a decline in the share prices of most of the listed consumer goods firms.
The gains recorded by Guinness Nigeria Plc in Q1,2021 when compared to other market competitors ranks it as the second most appreciated brewing stock, only less than Champions Breweries Plc which gained about 162% for the period under review.
Nevertheless, other rivals such as Nigerian Breweries Plc and International Breweries Plc all suffered a dip in value, while Golden Guinea Breweries Plc closed flat.
What you should know:
- Guinness Nigeria Plc in its last quarterly filings reported a profit of N524.2 million for Q2, 2021. It is yet to release its FY 2020 result so far.
- As at the period of reporting this, Guinness Nigeria Plc share price currently trades at N33.