News in brief:
– FTN Cocoa Processors PLC led the stock market last week with a 36.32% surge, despite years of heavy losses, pushing its stock to a 62-week high.
– Other major gainers included Northern Nigeria Flour Mills (32.49%) and Honeywell (24.32%), while Union Dicon Salt and Dangote Sugar saw notable declines.
Nigeria’s cocoa products maker, FTN Cocoa Processors PLC, witnessed a 36.32% rise in its stock price last week. According to the country’s official stock exchange platform, the value went from ₦1.9 to ₦2.59.
The company’s main business involves processing cocoa beans and palm kernel nuts. As a result, it supplies cocoa butter, cocoa cake, cocoa powder, cocoa Liquor, palm kernel oil, and palm kernel cake to local and international partners.
FTN Cocoa reported a loss after tax of ₦10.62 billion in 2024 and ₦10.65 billion in 2023, showing consecutive difficult years. Its stock price performance last year was also poor, losing over 4% of its value by the end of the year.
Additionally, the manufacturer’s woes continued into 2025, losing 17.24% of its stock value in the first quarter of the year. This recent surge has taken its stock price to the highest it has been in more than 62 weeks.
Northern Nigeria Flour Mills PLC recorded a 32.49% surge in its stock value last week, placing it second behind FTN Cocoa in our stock price tracker. The Semovita maker is maintaining its green streak and now has raised its valuation in the market by 155% this year.
Honeywell Allied Industries (24.32%) and Nestle Nigeria (10%) are the only other companies that recorded double-digit rises during the period under consideration.
Meanwhile, Livestock Feeds reported a 4% jump while Okomu Oil Plam’s stock value rose by 3.42%. There was a decent surge of 1.3% in Nascon Allied Industries’ stock price after it announced a 515% year-on-year growth in pre-tax profit dor the first quarter of 2025.
Union Dicon Salt was the biggest loser of the week, posting an 11.83% drop in its stock price. The salt producer had led equity performance among food makers in recent weeks, and this slight slump could be seen as levelling.
Dangote Sugar Refinery recorded a 4.76% loss after its double-digit surge the previous week. Cadbury Nigeria’s stock price lost 2% during the same period.
