Top 10 performing stocks

On the top 10 performing stocks last week were shares of Honeywell Flourmills Plc, A.G Leventis Plc, Forte Oil Plc, Courteville Business solution Plc, University Press Plc sand R.T Briscoe Plc. File photo: The floor of Stock exchange The rest were Ikeja Hotels Plc, Access Bank of Nigeria Plc, CAP plc and Vitafoam Nig. Plc. Honeywell led the pack with 11.30 percent or N0.40 price increase to close at N3.94 from N3.54 per share. At the tail end of last year, the company made some changes in the management position with appointment of three executive directors into the Board. Lanre Jaiyeola, who was appointed Acting Managing Director, will fully assume the role before the end of this month when the incumbent, Mr. Folaranmi Odunayo, retires his position. Jaiyeola is a graduate of Mathematics & Statistics from the then University of Ife, now Obafemi Awolowo University, Ile-Ife Oyo State. Also, Rotimi Gbenga Fadipe was appointed to the Board as Supply Chain director, while Mr. Benson Evbuomwan was appointed to the Board as marketing director. During the year, the company realized its objective of increasing the milling capacity to a 1000mt/day, which has taken the milling capacity to 2,610mt/day. The full impact of the increase, according to information from the company, will be fully felt in the financial year ending March 2014. Already, it has reported turnover of N46 billion, representing 20 percent increase over N38 billion posted in March 2012. The profit for the year rose marginally to N2.844 billion from N2.7 billion the previous year, representing six percent increase. A.G Leventis followed with 10.49 percent or N0.15 appreciation to close at N1.58 from N1.43 per share. Listed on conglomerates sector under diversified industries, A.G Leventis focuses on eight business units, which include power, FMCG, logistics and real estate among others. A.G Leventis is second to the least priced stock out of six companies listed on diversified industries sub-sector of the Nigerian Stock Exchange, NSE, after John Holts Plc, which trades at N1.25 per share. The company issued 1:5 bonus shares in 2008 and paid N0.14kjobo dividend in 2013. Available third quarter financial statement for September, 2013 showed 11/61 percent increase in turnover from N12.091 billion in 2012 to N13.495 billion. Profit before tax rose by significant 156.03 percent to N689.71 million as against N249.86 million in the same period of 2012. It recorded profit after tax of N242.68 million as against loss after tax of N68.95 million in equivalent period of 2012. Petroleum and petroleum products distributors’ company, Forte Oil, was the next as it rose by 10.14 percent or N13.72 to close at N148.99 from N135.27 per share. It had led the pack the previous week with27.37 percent or N29.07 price appreciation. Over the last few months, Forte Oil has been among the stocks commanding investors’ patronage as it has severally led on the gainers’ chart. It acquired substantial interest in Geregu Power Plant during the power sector privatization last year. Shareholders had at Annual General Meeting, AGM, just held last month, approved the N4.00 dividend recommended by the board of directors after about three years of non-dividend payment. The unaudited first quarter result for March, 2014, just released was a consolidation of profitability recorded in 2013 financial year end. Its profit after tax rose to N1.1 billion from N530 million in the same period of 2012. The revenue grew to N34.8 billion compared to N26.6 billion posted in the same period in 2013, representing 31 percent increase, while the gross margin increased by 72 percent to N4.6 billion as against N2.7 billion in first quarter of 2013. A computer-based system listed security, Courteville Business Solution, CBS, followed with 9.84 percent or N0.06 price increase to close at N0.67 from N0.61 per share. Activity has reduced considerably on the stock in comparison to 2013 when it was investors’ delight. It is yet to break into two digit region. Others were University Press, which rose by 9.46 percent or N0.35 to close at N4.05 from N3.70; R.T Briscoe advanced by 9.09 percent or N0.10 to close at N1.20 from N1.10; Ikeja Hotel trailed behind with 7.02 percent or N0.04 appreciation to close at N0.61 from N0.57; Access Bank went up by 6.17 percent or N0.48 to close at N8.26 from N7.78; CAP added 5.96 percent or N2.25 to its share price to close at N40.00 from N37.75, while Vitafoam appreciated by 5.00 percent or N0.20 to close at N4.20 from N4.00 per share.