Investor's ALERT: Stocks that made headlines today - 140612
Category: Investors NewsBeat
Thursday, June 14, 2012 / The Analyst / Proshare Research
Companies in the NEWS Today – Dangote Cement, Vitafoam Nigeria Plc, Skye Bank Plc , NASCON Plc and Total Nigeria Plc
DANGOTE CEMENT PLC - The Dangote Obajana Cement plant is expected to become the single largest plant for that product in the world, having a combined production capacity of 13.25 million mtpa when the fourth line would have been completed by 2015, BusinessDay can reveal. The production capacity of the plant was raised to 10.25 million mtpa with the commissioning of the new line 3.
The stock share price closed negative in 2010 and 2011 with -11.11% and -7.69% in that order while it also recorded -2.50% loss in 2012 so far. The company also recorded positive growth performance in its Q1 2012 financials while the strategic positioning by the company to be the single largest plant for cement products in the world will encourage investors to take position for long term investment in the stock.
VITAFOAM NIGERIA PLC - Manufacturer of flexible and reconstituted foam products, Vitafoam Nigeria plc, has commenced consumer promotions to the tune of N15 million, to reward existing and potential consumers, Peter Folikwe, the company’s director of sales and marketing has said.
Vitafoam recorded -54.90% declines in 2008 while part of the losses was erased in subsequent years as the stock recorded +20.21% and +24.02% in 2009 and 2010 respectively. The stock has performed pessimistic in 2011and 2012 as it has recorded -22.15% and -40.87% declines so far. The 2011 Audited result of the firm reflects it witnessed positive growth in turnover and PAT.
Skye Bank Plc - has said it would finalize its divestment from its non-core banking subsidiaries this year. Group Managing Director/Chief Executive Officer, Durosinmi-Etti said in a statement that the move would enable the commercial bank focus more on its intermediation role in the Nigerian economy, as well as on its three foreign banking subsidiaries.
The stock share price recorded -50.03% and -32.80% losses in 2008 and 2009 while the stock recorded +60.58% price appreciation in 2010 with another +4.63% gain in 2011. The stock has so far recorded -27.18% price depreciation in 2012.
NASCON Plc - National Salt Company of Nigeria Plc has declared a gross profit of N1.26bn for the first quarter result ended March 31, 2012, an increase by 52.1 per cent when compared to N824.9m recorded in the same period of 2011.
The stock share price recorded -66.35% and -23.82% losses in 2008 and 2009 while the stock recorded +40.13% price appreciations in 2010 with -34.15% loss recorded in 2011. The stock has so far recorded +5.41% price appreciations in 2012.
TOTAL NIGERIA PLC - Total Nigeria Plc has restated that its first mission in Nigeria is to create jobs. The quoted Oil and Gas Company’s Corporate Social Responsibilities (CSRs) will be the vehicle for achieving this goal.
Total share price recorded +7.51% gains in 2008 while it went down by -23% in 2009. It resumed uptrend as it recorded a whopping +57.05% gains in 2010. The stock sheds -19.62% in 2011 while it further went down by -29.82% in 2012
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