The Moment (London)
Ngozi Amuche
28 December 2011
DESPITE the fact that the market will close the year with an aggregate decline of over 10 per cent in 2011, investment in Roads Nigeria Plc and Capital Hotels will close 2011 with the highest growth in investment.
The Nigerian Stock Exchange (NSE) All-Share Index, which measures the aggregate performance of equities in the market closed last Friday at 20,763.26, indicating a year to-date decline of 16.9 per cent.
With three trading days before the end of 2011, analysts said the index would close the year with a decline of over 10 per cent compared with a growth of 18.9 per cent in 2010.
However, while the index and some stocks are closing the year on a negative note, Roads Nigeria Plc is set to put a smile on the faces of its shareholders with a growth of over 170 per cent.
Investigations revealed that by the close of trading last Friday, Roads Nigeria, which is construction firm, had recorded a capital appreciation of 175 per cent.
The equity had opened in January at N3.01 but rose to N8.28 per share last Friday. This showed a growth of 175 per cent and the highest in the market in 2011.
Roads Nigeria is said to be dominant player in the construction industry in the Northern part of Nigeria with head office located in Sokoto State. The company paid a dividend of 50 kobo per share for the year ended March 31, 2011.
Capital Hotels Plc is set to close the year as second highest in terms of capital appreciation.
Capital Hotels Plc, which owns Sheraton Abuja Hotel, has recorded a growth of 105 per cent as at last Friday. It rose from N3.30 at the beginning of the year to N6.78 per share.
Champion Breweries Plc posted a growth of 80.7 per cent, rising from N2.23 to N4.03 to occupy the third position.
Okomu Oil Palm Plc has recorded an appreciation of 44.7 per cent to close as the fourth highest price gainer in percentage terms.
A leading brewing firm, Nigerian Breweries Plc posted a growth of 42.8 per cent with equity rising from N77.10 to close at N110.10 per share.
NCR Nigeria Plc appreciated by 34.2 per cent while Airline Services and Logistics Plc chalked up 32.5 per cent.
Other equities that made the top 10 gainers for the year include: Guinness Nigeria Plc (28.5 per cent); Seven-Up Bottling Company Plc (25 per cent) and Goldlink Insurance Plc (22 per cent).
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