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NGX Becomes First African Exchange To Galvanize Private Sector Participation In Closing Gender Gaps
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Nigerian chief executives among highest paid in sub-Saharan Africa -- PwC
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By Darasimi Adebisi
The Nigerian stock market closed the transaction for the second trading day in August on a positive note, as price appreciation in MTN Nigeria, Airtel Africa and 10 others drive investors gain by N163.22 billion.
Bargain hunters buying interest, particularly in the telecommunication sector majorly led to the positive performance in yesterday’s trading period.
In summary, overall market capitalisation value grew by N163.22 billion or 0.81 per cent to close at N20.277 trillion from N20.114 trillion the stock market opened for trading.
Consequently, the Nigerian Exchange Limited All-Share Index (ASI) grew by 313.27 basis points or 0.81 per cent to close at 38,917.99 basis points from 38,604.72 basis points it closed yesterday.
Gains in MTN Nigeria, Airtel Lift Stock Market by N163 22bn |
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Dangote Sugar Refinery in its half-year ended June 30, 2021, has recorded 27.8 per cent increase in its group revenue to N131.95 billion in contrast to N103.23 billion recorded at the same period in the preceding year.
According to the refinery’s unaudited results for the period submitted to the Nigerian Exchange Limited (NGX), Gross profit grew double-digit at 37.3 percent to N28.59 billion compared to N20.82 billion in the preceding year due to better topline performance.
Group sales volume increased to 388,589 tonnes while production volume also increased by 7.6 per cent to 403,846 tonnes driven by operations optimization drive.
Commenting on the Company’s half-year 2021 performance, the Group Managing Director/CEO, Ravindra Singhvi said; “We commenced the year on a strong footing with impressive performance in first half as the financial results have shown, with a stronger Q1 topline growth and a robust Q2 topline growth year on year.”