For the second year running, Dangote Sugar and FBN Holdings maintained their status among the best performing stocks on the Nigerian Stock Exchange (NSE) in 2017 in percentage terms.
Dangote Sugar was the best performing stock in percentage terms during the review period.
It improved by 227.33 per cent to close at N20 per share against the opening price of N6.11.
International Breweries trailed with a growth of 194.59 per cent to close at N54.50 compared with N18.50 and Fidelity which opened at 84k rose by 192.86 per cent to close at N2.46 per share.
Fidson increased by 189.06 per cent to close at N3.70 against opening price of N1.28 and Dangote Flour Mills inched 185.88 per cent having closed the year at N12.15 per share against N4.25 opening price.
Stanbic IBTC improved by 176.69 per cent to close at N41.50 in contrast with N15, while May & Baker garnered 176.60 per cent to close at N2.60 against 94k it opened for the year.
FBN Holdings increased by 162.69 per cent to close the year at N8.80 per share against N3.35, while C & I Leasing rose by 158 per cent to close at N1.29 compared with the opening year’s figure of 50k.
The Chief Operating Officer, InvestData Ltd., Mr Ambrose Omordion, linked Dangote Sugar growth to improved numbers and 50k interim dividend as a result of backward integration that reduced operating cost due to sugarcane farms.
He also attributed the International Breweries gain to its merger with Intafact Beverages Ltd and Pabod Breweries Ltd as the major factor that move the price as earnings remained weak
He said that infusion of the three major players would boost numbers as market share increases.
Omordion said that Fidelity Bank’s growth was due to oversubscription of its Eurobond, which boosted investors’ confidence and as well improved positive numbers.
